Midcoast Energy Partners LP ( a New MLP)

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Ticker Symbol           MEP

Market Traded On     NYSE


Minimum Quarterly Distribution       .3125/share

Offering Price   $18.00

Initial Yield   6.9%

Company Website   Midcoast Energy Partners



Midcoast Energy Partners which is sponsored by Enbridge Energy Partners LP.  Midcoast is trading under the ticker MEP on the NYSE and was launched at $18/share.  Midcoast is operating midstream natural gas and natural gas liquids assets (mainly treatment and processing facilities) in Texas and Oklahoma.  They will pay a 31.25 cent/quarter distribution for the first year. They do earn the distribution (contrary to some new MLPs where they do not earn enough to pay the distribution they promise). While the yield is now around 7% we might have an interest a bit higher as we think the need for and growth of natural gas usage in the U.S. at this point in time looks bright.

The original offering documents are below.


Tim McPartland

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Tim McPartland
Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
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