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Yep. ET should just rename itself EBT (energy battery transfer). Then we’d be trading around $425 a unit.
When this bubble bursts, it’s going to be one of the greatest tragedy’s in investment history. It will cause so many millennials to move back home with parents. (If they weren’t already there) If you are riding this bubble, get out now. Find value stocks and stay independent. TSLA will never fulfill the dreams that this valuation has risen to.
$ET Seems to me all these green idiots need a reminder of what a world without US oil/gas looks like. Shut off the taps for a few days. Let’s see how they like no electric, cooling, heating, etc. When their phones are dead and they can’t recharge them, maybe they will understand.
New movement.........#shutthetap
I jumped ship AH at $4.92. May get back in after the dust settles following these ugly earnings.
Somebody put the spurs to this pony and get it over $5 before the earnings release tonight.
Looks like the market wants to see earnings before any movement. However, it’s good to see NGL adding more long term water agreements. That’s 2 in the last month. One being a super major.
Likewise. Estimates are pretty crappy, so hoping for the best.
Good to hear from you WSR! Let’s hope for a surprise earnings release Monday.
Thanks Jugs! Wishing you well on your endeavors.
Hello???? Any of the old gang still here????
I finally pulled the trigger and got back in at $3.75 a few weeks back. Hoping for a better than expected Earning Report early next week.
Hope everyone is doing well.
Does anyone know if NGL has any exposure to the DAPL?
As expected, NAV up to $1.45. We are now trading at a large discount.
Down 11.5% today, but the NAV will increase. I’m telling you, the RS is not a bad thing. Assured they won’t be delisted and opens up the ability for institutions to once again own it. I’m just going to let all the noise dissipate.
If the market would have hated this news, you would have seen much higher after hours volume. Is it a reverse split? Yes. Is it necessarily horrible news? No.
NAV currently sits at $1.36. So we are trading at a small premium at $1.40. If the reverse split would happen today, we would open trading at $14 and NAV would be $13.60. You would just have one tenth of the shares you originally had. But your overall value remains the same.
The big boards act much differently than the OTC. OTC reverse splits are usually followed by continued share dilution via the company or CEO. The big boards tend to reverse split to avoid delisting because of the $1 share rule to stay listed. (Various other reasons as well). CEN is not going to dilute the share count. They do need to get their share price away from that $1 threshold though. Thus this reverse split.
I do believe there is going to be some volatility. However, what matters is NAV. Just keep your eye on that and monitor if we are trading close to it.
From the form N filed on Friday. (all numbers as of 3/31) Total assets of $75.5M. Total liabilities of $22.2M. Leaving net assets of $53.3M. As they alluded to earlier, the private equity in KKR Eagle now makes up 56% of the total fund. The value of this private equity dropped from $44.3M on 12/31 to $29.9M as of this report.
My glimmer of hope.......they only value the KKR Eagle holding every Quarter. With the improving environment in the energy & MLP space, we should see a somewhat significant jump in the value of the KKR Eagle assets and the funds NAV for 6/30. (that assumes the improving outlook continues) Take it for what it's worth. Just my opinion.
NAV sitting at $1.01. Currently trading at a 40% discount. The largest discount in the funds history.
I’m fine with the 3 cent divy. Just need the fund to survive. Getting very ugly.
10% under NAV and still a 20% divy even after the cut. Yes please! I’ll take 70,000 shares. CEN
Guess I should have waited one more day to load up. Oh well, plan on holding this for quite a long time. Today is just insanity though! Algo’s are having a field day.
I bet you found that next rung on the buy ladder today???
As of yesterday, I am in! $22.50 is just too good to resist for a best in class MLP like EPD.
NAV up to $6.81 and div maintained at $0.135 for another 3 months. Good report overall. OXLC
Look for an announcement after market close today. Historically they announce the 1st Friday of each quarter.
Look for a marked improvement to NAV in the next quarterly report. LSTA index pricing to par value has really turned around since the end of November. The NAV on these CLO based tickers are very dependent on that pricing.
Someone/something is really loading up down in this $8.15-$8.25 range. OXLC is wound as tight as a spring.
I just had to get out. Had over 120k shares here. Couldn’t afford to take the hit that would come if they cut the divy.
I’m currently loading up on cheap OXLC and OXSQ. I believe they are both about to see their NAV turn back up. Yield is great as well. I also drip OXLC for an extra 5% on the divy.
Good luck to you my friend!
Tapped out at $6.35 today. Going to stay on the sideline until after the next divy announcement. (Around 1/3) A little afraid of a divy cut after MIE slashed there’s yesterday.
Just being safe. These CEFs don’t handle divy cuts very well.
Good luck to all!!
NAV $6.39. Currently selling at a discount at $6.38.
NAV $6.33. Should be a decent day. TGE bought out at a 20% + premium. CEN holds $10mill of TGE. These buyouts usually have a positive effect across the whole sector as well.
Right there with you. Sticking this out. Going to see where this can go. Really does seem like MLPs have crawled out of their deep holes finally.
If crude can just stay around this level, and gas would get a boost, these MLPs will be some of the best performers for years to come. I think we are seeing the bottom of this multi year pummeling.
Have a good one!
Yesterday - CEN $6.28, NAV $6.21
I think we are seeing funds begin to flow back into the whole midstream sector. Both EPD and ET, 2 of the largest holdings, are starting to really run. As long as CEN stays within 3% or so of NAV, I’m content. As of yesterday we were priced a little over 1% of NAV.
I think he meant $6.20 or $6.30. This usually runs up before ex-div. But with NAV at the level it is now, that would be quite a big premium. CEN rarely trades at more than a 3% premium to NAV.
I use https://www.cefconnect.com/fund/CEN to track daily NAV. In case you’re interested.
It was the annual report he was pointing out. Fiscal year end was 9/31. NAV at that time was $7.21. NAV as of Friday was $5.84.
Yep. Just watch EPD, ET, and PAA. They will tell you were CEN is going.
Updated NAV is $5.86. So we are still at a discount as of now. Looks like ET and EPD are going higher today as well. Should see another bump to NAV.
Yes, very odd. I can’t say I’ve ever seen heavy premarket action on this. I looked for any new hit articles, but haven’t found anything. The only thing I can think of is DRIP shares. Maybe a brokerage is using the premarket to get better pricing??
You nailed it. I’m retired now, at age 46, and living off dividends. Set up my IRA account to disperse monthly for that “mail box money”. The only thing I hate is paying the extra 10% early withdrawal penalty.
I just try to maintain my capital with dividends for income. MLPs can be a great source of income. CEN helps me avoid the K-1s in my IRA while giving me exposure to some of the best MLPs out there.
God I hope the bottom is here! My boat is so full and now it has holes in it. At least tomorrow’s huge dividend will help.
Looks like our second largest holding, EPD, is having a nice day today. Should see a NAV increase. Currently trading under NAV.