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June 4, 2009 Stock Pick: Eagle Rock Energy Partners, L.P. (EROC)

Stock Price: $3.69

Eagle Rock Energy Partners, L.P., together with its subsidiaries, engages in gathering, compressing, treating, processing, transporting, and selling natural gas, as well as in fractionating and transporting natural gas liquids (NGL). It also involves in acquiring, developing, and producing oil and natural gas working interests in Alabama and Texas; and acquiring and managing fee minerals and royalty interests.

We see EROC as another great way to play a possible increase in natural gas prices. EROC is a stock that we believe would be positively impacted by rising natural gas prices.

EROC has grown revenues the last three years from $478 million in 2006 to $910 million in 2007 to $1.74 billion in 2008. Net income for 2008 came in at $87.5 million.

EROC has significant long-term debt, but total assets outnumber total liabilities by approximately 1.69 to 1. We could see EROC possibly breakout in the near future after moving higher the past three trading days.

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