Post by
luscar99 on Feb 15, 2024 1:22pm
Rebounding
The business is going well and growing at a nice pace.
It benefits from expanding US oil and gas production, while the rest of the world seems intent of committing energy suicide.
Kelcy Warren seems to be a visionary with a long term plan and it's very encouraging
he bought $143 million worth of shares on the open market within the last 12 months.
The credit ratings have recently been upgraded therefore allowing the company to refinance part of the debt at lower rates.
In terms of the share price it nicely follows a trend established since the fall of 2020, after it became clear covid its not killing 90% of the population and the end of the world may not come as soon as many feared at the time. Subsequently most of the foreign holders had to divest due to the new onerous taxation introduced by Biden's IRS (39% on distributions, a further 10% on distributions and 10% on gross proceeds of sale).
The share price is about to break through long term resistance at $14.32. Next stop would be $15, easily reachable by fall. This while getting a 9% distribution.
Comment by
luscar99 on Apr 23, 2024 12:56pm
Expect $16 to be left behind by June.