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UAN - The variable distribution MLP that could go a long way
An SI Board Since March 2021
Posts SubjectMarks Bans Symbol
772 32 0 UAN
Emcee:  Elroy Type:  Moderated
This board is to discuss CVR Partners (ticker - UAN).

CVR partners is a maker of UAN and ammonia fertilizers.

The entity is a Master Limited Partnership (MLP). It pays quarterly distributions based on an internal formula of cash for distribution.

What’s interesting and good about the current UAN story?

1. Least interesting. Congress recently passed a law granting tax credits for a certain type of carbon capture. UAN has been doing this type of carbon capture for a few years. They are researching how best to monetize this new tax credit, and may tell us the result in the Q1 or Q2 2021 conference calls.

2. The fertilizers which UAN sells have moved up in price significantly since January 2021, and are now near decade high price levels. The unit price of UAN has moved up in 2021, but not to a level which one would expect if fertilizer prices are going to stay near their current levels for an extended period. Earlier in about 2012-2013 when fertilizer prices were at similar levels to where they are today, UAN was distributing about $12 per year, and the unit price was above $200.

That’s the story in a nutshell.

Here’s a page that appears to show the futures price for UAN fertilizer.

UAN the company generally doesn’t produce much news beyond quarterly financial results. I’d expect this board to become fairly quiet outside of the quarterly results. Recently there have been 3 to 4 articles per month on various agriculture web sites that discuss fertilizer price trends. UAN’s two main fertilizers for sale are UAN32 and anhydrous/ammonia. There are also a few articles per week that discuss changes in the price of corn. Higher corn prices = both more corn planting and more incentive to use fertilizer to improve yields on corn acreage. High corn prices per bushel are very good for fertilizer demand.

Feel free to discuss anything fertilizer or agriculture related. My expertise in both subjects is nil, so we will accept any wild corn conspiracy theories as facts, and eat corn, and wait to see the financial results that UAN may produce in a high priced fertilizer environment.
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772These prices are retail, and backward looking. But....the price declines in ferElroy-March 22
771Exponent Set to Join S&P MidCap 400; CVR Energy and Certara to Join S&P Elroy-March 15
770<I>I entered my UAN K-1 data into turbotax and it did reduce the box 1 incElroy-March 10
769<< Can use historical negative Business Income from previous years in CVR Area51-March 10
768UAN K-1's are out. For the first time I've got an MLP (CVR) that has poElroy-March 10
767UAN investors, there's a new MLP in town...... Subject 60344Elroy-March 6
766UAN trades ex-dividend today on $10.50 distribution. The next distribution willElroy-March 3
765Thursday is the last day to buy UAN and still receive the $10.50 distribution. Elroy-March 1
764I got an option question. Anyone have an idea about this question..... I am shoElroy-March 1
763If you want to get the coming $10.50 UAN dividend, you gotta buy UAN Thursday orElroy-March 1
762DTN Retail Fertilizer Trends All Fertilizer Prices Lower Again https://www.dtnElroy-March 1
761New NGL board for "loopy MLP investor" class.... Subject 60344Elroy-February 26
760Ya know, I've been here saying for months and months that UAN is going to paElroy-February 24
759The Q1 model is a work in progress, and has been moving around as more data comeElroy-February 22
758Your estimates for last quarter were spot on Geezer. I hope for similar this quFJV1February 22
757UAN conference call tidbits: Q4 tons sold were lower tElroy-February 22
756Pat yourself on the back Elroy. Diegodiegosan-February 21
755CVR Partners Reports Fourth Quarter and Full-Year 2022 Results and Announces a CElroy-February 21
754DTN Retail Fertilizer Trends UAN Fertilizers Push Prices Down https://www.dtnpElroy-February 21
753Some tidbits from CF's conference call today. The main takeaway for me is tElroy-February 16
752US fertilizer giant CF reported Q4 Their prices per ton Elroy-February 15
751DTN Retail Fertilizer Trends UAN Fertilizers Again Lead Prices Lower https://wElroy-February 15
750The coming UAN Q4 2022 financial release is very backward looking. CVR probablyElroy-February 15
749That's a fair supposition. In exactly 1 week we should find out whether its Area51-February 15
748I don't think the idea that margin calls are pushing the price of CVR in eitElroy-February 14
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