BBEP
BBEP
I really liked what I heard from BBEP today at our luncheon. If you are looking for high yield and low risk (they have over 90% of 2014 production hedged at good prices), this is one to take a hard look at. 10% annual yield + steady growth.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: BBEP
BreitBurn Energy Partners L.P. (BBEP) announced today a cash distribution of $0.4875 per unit for the third quarter 2013, or $1.95 per unit on an annualized basis, for all of its outstanding units. This distribution represents an increase from the second quarter 2013 distribution, which was $0.48 per unit, or $1.92 per unit on an annualized basis. The distribution will be payable on November 14, 2013 to the record holders of common units at the close of business on November 11, 2013.
About BreitBurn Energy Partners L.P.
BreitBurn Energy Partners L.P. is a publicly traded independent oil and gas master limited partnership focused on the acquisition, exploitation, development and production of oil and gas properties. The Partnership’s producing and non-producing crude oil and natural gas reserves are located in Michigan, Wyoming, Oklahoma, California, Texas, Florida, Indiana and Kentucky. See www.BreitBurn.com for more information.
About BreitBurn Energy Partners L.P.
BreitBurn Energy Partners L.P. is a publicly traded independent oil and gas master limited partnership focused on the acquisition, exploitation, development and production of oil and gas properties. The Partnership’s producing and non-producing crude oil and natural gas reserves are located in Michigan, Wyoming, Oklahoma, California, Texas, Florida, Indiana and Kentucky. See www.BreitBurn.com for more information.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: BBEP
From Seeking Alpha:
Breitburn Energy Partners (BBEP) is an E&P concern organized as a master limited partnership and the entity came public in 2006. The company has mature long-lived reserves and has grown through acquisitions as well as organic growth.
The shares yield over ten percent (10.1%) and the company has consistently and incrementally raised its payout since emerging from the financial crisis. Revenue growth should clock in at over 65% this fiscal year and analysts believe another ~25% gain in FY2014 is in order.
After losing money in FY2012, the company should post 70 cents a share of earnings in FY2013. Analysts have $1.10 in EPS pencil in for FY2014. The shares are priced just over book value.
The company just announced it will raise additional funds by issuing 15mm new shares. These proceeds will be used to retire debt. It should be noted that raising additional capital to expand or retire debt are a core part of this type of entity. In addition, insiders have been net buyers of the shares in the last six months, which is a vote of confidence by my perspective. I added more shares to my position today.
Breitburn Energy Partners (BBEP) is an E&P concern organized as a master limited partnership and the entity came public in 2006. The company has mature long-lived reserves and has grown through acquisitions as well as organic growth.
The shares yield over ten percent (10.1%) and the company has consistently and incrementally raised its payout since emerging from the financial crisis. Revenue growth should clock in at over 65% this fiscal year and analysts believe another ~25% gain in FY2014 is in order.
After losing money in FY2012, the company should post 70 cents a share of earnings in FY2013. Analysts have $1.10 in EPS pencil in for FY2014. The shares are priced just over book value.
The company just announced it will raise additional funds by issuing 15mm new shares. These proceeds will be used to retire debt. It should be noted that raising additional capital to expand or retire debt are a core part of this type of entity. In addition, insiders have been net buyers of the shares in the last six months, which is a vote of confidence by my perspective. I added more shares to my position today.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: BBEP
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group