RE:RE:RE:RE:RE:RE:RE:RE:Phew, am I ever relieved...Hey BS
How she go?
Back on Oct 26, 2021, I posted the note below. I still think this is a really bad purchase but also still think it is much different than ALA. Since the post. I have softened my view a bit and have decided to hang on to our full position. I think the debt will be much more manageable than what I initially thought. I also don't think AQN will cut their divy but who the heck knows.
One thing I do know is that the new CEO is a total flake and I'm sad Robertson retired. He sure knew what he was doing and did such great stuff for AQN.
Anyway, I'm going to be patient and hold on (it's obviously too late to sell anyway).
Take her easy and all the best
Sarge
PS - Those midstreamers still look fantastic to me. My ratings order for what we own is still PPL, TRP, KEY, ENB.,
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My Oct 26 post:
RE:KPC Acquisition
Total bummer!! I had really hoped they wouldn't go ahead with this. What a mess and what a totally stupid thing to do.
AQN had been one of my all time favs having first bought at $5.55 in Nov, 2011. It no longer is and after it bounces back a bit after tomorrow's massacre, I'll be trimmig it from a full position to a mid-position. This is quite significant for us as we currently only have 16 full posisiotns and 3 mids.
I saw someone say that this seems a lot like ALA buying WGL which was the all time stupid take-over. I think it's a tad different because WGL was about the size of ALA so that was like swallowing a whale. This is not quite that but is still really bad and I sure am disappointed.
The two take-overs do have another thing in common in that both WGL and Kentucky Power are cr*ppy companies,
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BSdetector2016 wrote: "AQN seems to be unsure of what their long term business plan should be." Those words are pretty much what SargeX was saying about AltaGas. Grab a garbage can before you look at the LT chart....
bttmfischer wrote: AQN seems to be unsure of what their long term business plan should be.
While the oil was over $100/ barrel, the so called "green energy" could be viable,
but with WTI under $80? Definately not, even with tax payer subsidies.
Now that WTI may become a $100/barrel commodity, AQN may recover, at least partially.
I only have 2k of AQN(which I bought 4 yrs ago) thank God, so I really don't care, I view it as a case study of how the "all knowing" analysts can be so wrong, so often.