RE:JP Morgan says SPB is going to cut the divyDoesn't make sense. Inventories and gas prices would matter for a producer, which SPB is not. SPB contractually delivers through long contracts and has minimal to no reliance on commodity prices.
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Management has stated numerous times that the dividend is well supported by cash flow, no changes to capital allocation, earnings are growing at 5%, and Interest rates are dropping fast which also supports the distribution.
NikoDoughski wrote: put out a note today. not surprised to see a jp morgan accoutn sell nearly a million shares in the past week. think they'll switch to buybacks and announce it into q3. can't afford growth capex. propane inventories in the US astronomical. priecs low. more competition then expected.
i got hurt on this one folks. believed the wrong people.
cutting the divy into the tax loss selling will be a blood bath