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Thread: Questions/concerns on company specific issues, ETF's/Mutual Funds/Closed End Funds/BDC's/Bond funds

  1. #11

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    Kickabuck, your question certainly could pose quite a quandary for some potential stockholders/investors. There aren't a lot of easy answers, either. I suppose if we dug deep enough and if we want to nitpick, we could find that many businesses at some time have made decisions we don't always agree with. Say Walmart for instance. Some of them still carry firearms and ammunition and some don't. Some of them sell T shirts that are pro- Democrat, yet also sell ones that are pro-Republican. As long as they weren't just one way or the other and they remain balanced, if you will, then I'm okay with that and I'm conservative in just about every way imaginable. I look at it as them just playing it down the middle and getting business from both sides.

    Your question runs parallel to my choice of not frequenting certain establishments and businesses due to their political stances and affiliations. It is really difficult to decide whether or not a business has become "woke" due to threats from outside forces whether from actual people or online bots meant to threaten and scare the business into submission or because the people running that business really think that way and use their power and influence to get others to think that way. The pandemic has only made things worse too as many businesses are struggling.

    There is a long and ever growing list of talented actors, musicians, artists whose works I'd appreciated before, but will not watch now. The way I look at it is yes, they're entitled to their opinions as individuals, but once they cross the line, use their influence and start telling me how to think or how I should behave ( IE: fall in line with their way of thinking and not resist or else I'm a racist, homophobic, xenophobic, misogynistic, etc., etc.), then I'm out and will most likely never go back. I won't rent/buy their movies or their music. I will not put another red cent in their pockets.

    I left my former car insurance company and told them exactly why (refusing to insure businesses that have conservative and/or 2nd Amendment/NRA ties). Again, it is their right as a private business to decide to do so and I quickly reminded them that it is MY right to disagree with their decision, leave them and find another. That one was fairly easy as the insurance companies are so cutthroat. In the case of telecommunications, that seems much more difficult- ATT, T Mobile, Verizon, Sprint? I don't really want to use any of them due to their views and organizations whom they donate to, but am somewhat stuck and have to pick my battles until something changes.

    I have not watched an NFL football game in years now, not even the Super Bowl (ever since the kneeling/ National Anthem BS and their subsequent lionization of a 3rd string quarterback who alleged numerous lies as truth and was given chances to earn a job with several different clubs, yet declined to do so. I realize that I'm but one small part of it, but I like to think that I'm part of the significant decline in NFL ratings, Super Bowl included. Oh, they can justify it because of things such as Covid-19, but they know the truth and they're scared. I won't buy Nikes either, because they're making him rich and are trying to make him a hero. I just want to add that I love football- I used to watch every Sunday, attend or throw Super Bowl parties and even played in some fantasy leagues, but no longer. They lost me for what looks like forever. So be it. They've made their choice and so have I.

    Quite unfortunately, many, many businesses seem to want to push socialism/communism/extreme leftist viewpoints and wokeness in their business models or at least cow to it or act like they're on board with it. That's the reason why I will not shop at stores like Target- I do not believe that a man should be able to enter a woman's restroom if only for the chance that he may expose himself (or attempt worse) to my wife or daughters or any other female and that's whether he "identifies" as a woman or not.

    There are innumerable stores which I will not shop at any longer and haven't for quite some time. Truthfully, that can make things more difficult and rather inconvenient sometimes, but it IS possible. And until there are enough businesses that are openly against the current pervasive attitude and thought processes and mob mentality group-think, then we kind of have to pick our spots. We have to seek out the businesses that are standing their ground and patronize them (in the good way). I especially go out of my way to support small and local businesses.

    I left Facebook recently and never belonged to Twitter due to their "values" of censorship and editorialization of thoughts and ideas that don't agree with theirs. Not sure where their stock prices are currently, nor do I care, but I do know that other people followed suit and it did have a negative effect, at least initially. I have found other ways to keep in touch with friends and family that aren't quite as convenient, but it'll do at least for now.

    With respect to choosing which stocks you would invest in, I would say that when you do have a difficult choice and you make the decision to buy or keep a particular stock even if/when their politics don't coincide with yours, then use the money you make against them. When you do realize a profit, push that money forward and find and invest in businesses that DO stay in alignment with your beliefs. It isn't a perfect solution, but it's about the best we have right now. Stay positive and remember to use the "power of the individual". One individual against a group doesn't stand much of a chance, but keep in mind that at least half the country believes as you do and this battle isn't over...
    Last edited by bronkster1967; 02-15-2021 at 12:43 PM.

  2. #12

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    Quote Originally Posted by Redrum View Post
    ET still has an UNSAFE dividend rating by SSD so it would be a speculative holding in our retirement accounts and we have chosen to designate the 6% our plan allows to holding oversized positions in T, EPD and SJI. I suggest you use a trailing stop if you are up a significant amount. The legal issues ET faces have not gone away and with President Biden, they will likely become potentially MUCH worse. The good news is currently ET's earnings easily cover the dividend but so do the earnings of EPD and MMP.

    ET's current legal issues are:

    Mariner II East Project
    The Marsh Creek reroute order is now heading toward the courtroom. The cost of the courtroom is not just the legal expenses. It's also the interest (or preferred stock dividends depending upon your view of which financing enabled construction) that needs to be paid while the trial plays out along with any potential appeals.

    Dakota Access Pipeline Project

    This project faces a very different cost threat. Management was successful here by completing the project before issues with the permit from the Army Corps of Engineers were settled. In the original 2016 case, the judge originally felt that the defendants (Energy Transfer and the Corps) had a good chance to fix permit deficiencies with ordering an Environmental Impact Study. In 2020, the court noted that even when the obvious solution left was an environmental impact study, the Army Corps of Engineers did not undertake that study to satisfy the 2016 court decision. Therefore in the 2020 court decision the court ordered an EIS and vacated the permit. Note that the 2016 decision and the original issues are referenced in the 2020 decision.

    There is additional exposure to several possible extra costs that one would not normally associate with cost overruns. By far the largest of these would be the defiance in operating a pipeline without a permit due to the construction of the pipeline without the permit issues being resolved. A worst-case scenario is the last part of the most recent court decision and order. That would be the court finds defiance and therefore puts at risk any and all profits gained through the operation of the pipeline when in fact the permit issues were not resolved. The pipeline has operated for about three years (give or take) so three years of profits and appropriate penalties are at risk. The liability combined with a potential "empty the pipeline" order that the appeals court is now reviewing could potentially result in a liability far larger than any annual profit contribution from the pipeline.

    IN my OPINION, the current run up in the energy sector is due to the overall rise in the S & P 500 and the fact WTI has moved back above $46.00. I do not believe the price run up is temporary but rather a start of the return to prior Covid 19 price/earnings ratios for these pipeline companies. All three are still well below their 5 year P/E averages but EPD and MMP do not have HUGE legal issues. EPD pays practically the same dividend percentage and MMP pays a higher percentage so why would a dividend investor choose ET????

    I just checked Moody's for ET's credit rating and they are currently Baa3 - one step above "junk" status and they have a "Negative" outlook. Their underlying subsidiary Sunoco LP proposed notes are currently rated at B1 which is a "junk" bond rating, one step below investment grade. Sunoco LP is a master limited partnership (MLP) that distributes motor fuels on a wholesale basis to convenience stores, independent dealers, commercial customers and distributors situated in over 30 states. Its general partner is Energy Transfer Operating, L.P. (Baa3 negative), who owns 100% of SUN's Incentive Distribution Rights (IDRs) and 34.4% of SUN's common units.

    With lower drilling in shale formations the need for new pipelines is pretty much gone. If you add into this equation the ability to get pipelines approved is now significantly lower so all existing pipeline companies not bankrupted by legal costs and legally required pipeline closures, should do well.
    I find this post funny at this time. ET kicked out it's dividend, was upgraded by SSD without an economic cycle, and has out performed the pipelines EPD & MMP. I'll may follow up with YTD numbers, but realize you don't like others posting on your personal blog.

  3. #13

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    Quote Originally Posted by Kickabuck View Post
    I find this post funny at this time. ET kicked out it's dividend, was upgraded by SSD without an economic cycle, and has out performed the pipelines EPD & MMP. I'll may follow up with YTD numbers, but realize you don't like others posting on your personal blog.
    What the heck...these numbers may or may not be accurate

    ET ytd up 33%
    EPD ytd up 14%
    MMP ytd up 6%

    All appear to be kicking out roughly 9% annual dividends.

    Back to your normal programming...
    Last edited by Kickabuck; 02-24-2021 at 08:40 PM. Reason: exiting out of the personal blog

  4. #14

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    Quote Originally Posted by Kickabuck View Post
    What the heck...these numbers may or may not be accurate

    ET ytd up 33%
    EPD ytd up 14%
    MMP ytd up 6%

    All appear to be kicking out roughly 9% annual dividends.

    Back to your normal programming...
    Energy Transfer's co-founder and Executive Chairman Kelcy Warren has lost the trust of many investors as well. SL Advisors, an asset manager specializing in midstream energy infrastructure, provided a nice summary of management's past shenanigans.

    Energy Transfer's Borderline Safe rating suggests moderate risk of a dividend cut over a full economic cycle. On February 17, 2021, we upgraded Energy Transfer's rating to Borderline Safe and published a research note.

    And let's not forget DAPL and here is part of the latest:

    February 9, 2021
    The Honorable Joe Biden
    President of the United States
    1600 Pennsylvania Ave, NW
    Washington, DC 20500
    Dear President Biden:
    On behalf of our undersigned Tribal organizations, we write in support of the January 19,
    2021 letter of the elected leaders of the Standing Rock, Cheyenne River, and Oglala Sioux
    Tribes (collectively, the “Tribes”) requesting that you immediately halt the construction
    and operation of the Dakota Access Pipeline (DAPL). We wish to offer our perspective on
    this matter and urge that you take the immediate actions proposed in the Tribes’ letter.
    In their January letter, the Tribes asked that you instruct the Army Corps of Engineers (the
    Corps) to stop the illegal construction of DAPL and order the Corps to conduct a robust
    National Environmental Policy Act (NEPA) process, including meaningful Tribal
    consultation and the completion of a thorough Environmental Impact Study, before any
    future construction on the pipeline can take place. They also asked that you withdraw
    President Trump’s January 2017 “Presidential Memorandum Regarding Construction of the
    Dakota Access Pipeline” and reinstate the December 2016 opinion of the Solicitor of the
    Interior entitled “Tribal Treaty and Environmental Statutory Implications of the Dakota
    Access Pipeline,” which was itself withdrawn by the Department early in the Trump
    administration.
    Since the Tribes’ letter was sent, the D.C. Circuit Court of Appeals has affirmed the D.C.
    District Court’s conclusion that the Corps’ process of approving the necessary easement for
    the pipeline violated NEPA and flagrantly disregarded Tribal rights.


    Lastly - as of today's close these are the current dividend percentage payouts:

    ET 7.51
    MMP 9.87
    EPD 8.14


    I did create a thread for these sort of questions. I will look for it and revive it now. I do want to keep this blog free from these inquiry type postings.
    Last edited by Redrum; 02-25-2021 at 01:08 AM.
    Current investment plan is post #1606, Free S & P sentiment index (Post #564), https://www.ndr.com/invest/infopage/S573 SSD = Simply Safe Dividends Post #1162, http://simplysafedividends.com Sentiment Wave Analysis, https://www.elliottwavetrader.net/ I do a lot of analysis on the Seeking Alpha site. https://seekingalpha.com/ Heck I could be totally wrong!

  5. #15

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    [QUOTE=Redrum;2737529]Energy Transfer's co-founder and Executive Chairman Kelcy Warren has lost the trust of many investors as well. SL Advisors, an asset manager specializing in midstream energy infrastructure, provided a nice summary of management's past shenanigans.

    Do you realize Kelcy Warren stepped down? I don't want to nitpick on your investment ideas, but this is a public forum right, and I do have the right to comment, correct?

  6. #16

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    [BThe fact he stepped down is secondary to the harm he caused in the reputation of ET. You have the right to comment but you are very knowingly disturbing my intentions for this blog which is rude and your attitude about it is condescending.[/B]
    Last edited by Redrum; 02-25-2021 at 03:06 AM. Reason: Shouting (excessively large font)
    Current investment plan is post #1606, Free S & P sentiment index (Post #564), https://www.ndr.com/invest/infopage/S573 SSD = Simply Safe Dividends Post #1162, http://simplysafedividends.com Sentiment Wave Analysis, https://www.elliottwavetrader.net/ I do a lot of analysis on the Seeking Alpha site. https://seekingalpha.com/ Heck I could be totally wrong!

  7. #17

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    Kickabuck - Here is the appropriate thread I created specifically for ET type commentary.
    Last edited by Redrum; 02-25-2021 at 01:07 AM.
    Current investment plan is post #1606, Free S & P sentiment index (Post #564), https://www.ndr.com/invest/infopage/S573 SSD = Simply Safe Dividends Post #1162, http://simplysafedividends.com Sentiment Wave Analysis, https://www.elliottwavetrader.net/ I do a lot of analysis on the Seeking Alpha site. https://seekingalpha.com/ Heck I could be totally wrong!

  8. #18

    Default

    Quote Originally Posted by Kickabuck View Post
    What the heck...these numbers may or may not be accurate

    ET ytd up 33%
    EPD ytd up 14%
    MMP ytd up 6%

    All appear to be kicking out roughly 9% annual dividends.

    Back to your normal programming...
    Energy Transfer's co-founder and Executive Chairman Kelcy Warren has lost the trust of many investors as well. SL Advisors, an asset manager specializing in midstream energy infrastructure, provided a nice summary of management's past shenanigans.

    Energy Transfer's Borderline Safe rating suggests moderate risk of a dividend cut over a full economic cycle. On February 17, 2021, we upgraded Energy Transfer's rating to Borderline Safe and published a research note.

    And let's not forget DAPL and here is part of the latest:

    February 9, 2021
    The Honorable Joe Biden
    President of the United States
    1600 Pennsylvania Ave, NW
    Washington, DC 20500
    Dear President Biden:
    On behalf of our undersigned Tribal organizations, we write in support of the January 19,
    2021 letter of the elected leaders of the Standing Rock, Cheyenne River, and Oglala Sioux
    Tribes (collectively, the “Tribes”) requesting that you immediately halt the construction
    and operation of the Dakota Access Pipeline (DAPL). We wish to offer our perspective on
    this matter and urge that you take the immediate actions proposed in the Tribes’ letter.
    In their January letter, the Tribes asked that you instruct the Army Corps of Engineers (the
    Corps) to stop the illegal construction of DAPL and order the Corps to conduct a robust
    National Environmental Policy Act (NEPA) process, including meaningful Tribal
    consultation and the completion of a thorough Environmental Impact Study, before any
    future construction on the pipeline can take place. They also asked that you withdraw
    President Trump’s January 2017 “Presidential Memorandum Regarding Construction of the
    Dakota Access Pipeline” and reinstate the December 2016 opinion of the Solicitor of the
    Interior entitled “Tribal Treaty and Environmental Statutory Implications of the Dakota
    Access Pipeline,” which was itself withdrawn by the Department early in the Trump
    administration.
    Since the Tribes’ letter was sent, the D.C. Circuit Court of Appeals has affirmed the D.C.
    District Court’s conclusion that the Corps’ process of approving the necessary easement for
    the pipeline violated NEPA and flagrantly disregarded Tribal rights.


    Lastly - as of today's close these are the current dividend percentage payouts:

    ET 7.51
    MMP 9.87
    EPD 8.14


    I did create a thread for these sort of questions. This is it. I want to keep the dividend investment plan blog free from these inquiry type postings.
    Last edited by Redrum; 02-25-2021 at 02:40 AM.
    Current investment plan is post #1606, Free S & P sentiment index (Post #564), https://www.ndr.com/invest/infopage/S573 SSD = Simply Safe Dividends Post #1162, http://simplysafedividends.com Sentiment Wave Analysis, https://www.elliottwavetrader.net/ I do a lot of analysis on the Seeking Alpha site. https://seekingalpha.com/ Heck I could be totally wrong!

  9. #19

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    [QUOTE=Kickabuck;2737532]
    Quote Originally Posted by Redrum View Post
    Energy Transfer's co-founder and Executive Chairman Kelcy Warren has lost the trust of many investors as well. SL Advisors, an asset manager specializing in midstream energy infrastructure, provided a nice summary of management's past shenanigans.

    Do you realize Kelcy Warren stepped down? I don't want to nitpick on your investment ideas, but this is a public forum right, and I do have the right to comment, correct?
    The fact Kelcy stepped down is secondary to the harm he caused in the reputation of ET. You have the right to comment but you are very knowingly disturbing my intentions for this blog which is rude and your attitude about it is condescending.

    Energy Transfer CEO Kelcy Warren will resign from his position and hand over control of the company to executives Mackie McCrea and Tom Long, who will serve as co-CEOs, starting January 1. However, Warren will stay on as executive chairman and chairman of the board of directors and "will continue to be intimately involved in the strategic growth of Energy Transfer," he said.

    So, you do realize his stepping down was basically a "publicity stunt" created to fool the greater fool?
    Last edited by Redrum; 02-25-2021 at 03:06 AM. Reason: Shouting (excessively large font)
    Current investment plan is post #1606, Free S & P sentiment index (Post #564), https://www.ndr.com/invest/infopage/S573 SSD = Simply Safe Dividends Post #1162, http://simplysafedividends.com Sentiment Wave Analysis, https://www.elliottwavetrader.net/ I do a lot of analysis on the Seeking Alpha site. https://seekingalpha.com/ Heck I could be totally wrong!

  10. #20

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    When I followed technical analysis I found MACD to be useful as one indicator - although I never tried to understand it under the hood. As far as Elliott Wave goes I find it to be far too subjective and practitioners constantly change the scenario to the point that it seems of little use. I appreciate the info you post in your main thread - you certainly do post a good deal so the time must be significant.

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