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Thanks. Sent you an email
Bought more at 8.08. Will add every .25 down.
I will be a buyer at 8.50, if it gets there
I feel good about the purchase today.
As far as the move, closed our restaurant here in Maine. My wife travels to France next week to meet with relocation company and meet with Banks and local Chamber of Commerce. We then both head back at the end of December. Will keep you up to date
Just picked up another 350 @ $7.33
I started reducing my position after the last earnings and got out around $14.25, only have a few shares left at this point. I did roll it into some NGL preferred as well as other preferred stocks and baby bonds. It was less a reflection on NGL and more about limiting volatility and getting stable divs.
NGL did great for me and I will continue to hold a few shares and of course I am still holding AVMXY/RCEL, which has been a grand slam.
Yes, that is correct. The market punishes NGL when oil drops even if not appropriate. Has been that way for a while
We sold off right before the previous ex-div date and recovered and saw higher stock prices shortly after ex-div. Some are using the rise in to ex-div date as a trading opportunity.
No reason to cancel when you are going to charge BA for your loses. If you cancel, you cant do that but you can always suspend/delay delivery. Economic headwinds on top of all of BA issues will send this below $300.
Well said. Sent you an email
Thanks Len, every thing is good. Looking to go back to France in Nov and will look at moving to Bordeaux first half of next year. Should be around the boards more come mid Sept
Hey everyone, I apologize for not being on, summers is the busiest time of year for our business, plus we are planning a move to France. I just had to take a minute to post that I also picked up some shares today, just could not pass it up. 1,000 $14.81. Good luck to us all.
May be another good short.
Well, if CBIS is all you own, than all of your stock choices are scams
Happy Birthday Jugs. Work is busy so hard to get on the boards as much as I would like. Will be looking to add if we hit 4.90.
Good luck to us all
Overall price action today has been better than I expected with the headline miss. We are only down .15 cents and with oil down, I would expect that anyway. I have the same opinion as Pete that we will sell off a bit during the dead period between earnings, just like we usually do.
While we did not have the clear blowout quarter like the last one, we did have a solid quarter that shows that NGL is not this mismanaged entity like the NGL bears have been pounding the table for over a year.
Big day, waiting for earnings release, premarket. Good luck to all longs.
Did not realize we were in this one together too.
Also pleased that it is holding
Shady is as shady does. Why should boeing hide anything? Because they have something to hide.
https://www.moonofalabama.org/2019/05/boeing-737-max-crash-reveals-a-severe-problem-with-older-boeing-737-ngs.html
Now pilots union is calling Boeing out
https://www.cnn.com/2019/05/23/business/american-airlines-boeing-pilots-union/index.html
She did it, now will she hold it
Thanks for the post
Exciting stuff.
Would not be surprised to see a pullback just before earnings as traders may be playing the push into earnings. We are overbought, regardless, I am just sitting tight. May look at an option play, sell puts/calls. I rarely buy Calls but I am tempted to get some cheap 17.50 calls. If NGL hits it out of the park, they could run. Will post if I do.
Have a great weekend.
On Fire Baby!
Institutional (institutions and insiders) ownership increased recently. Not sure when it happened but for a long time, Institutional ownership was 70% but checked today and it is at 80%, that is a huge difference. Maybe some of it has to do with some of these deals NGL has been doing but my guess is, funds are adding to NGL positions.
Great news!
Jugs, you, Pete and a few others have helped many hold the course. It was only 5 months ago that NGL was around $9 and I am confident that without you guys, some on this board would have sold and lost money.
You were the captain and Pete your first mate, you guys were our "Skipper" & "Gilligan" except our 3 hour cruise was over a year long of rough seas and we found safe harbor on Money island. I know we are not done yet but man, it feels good.
Of course I am kidding, Kirk and Spock would be a better comparison.
I am not one to count my money before I have it but if we have a solid quarter, we are looking at $15+ (IMO). If we have another blow out quarter, we could be looking at $17. Management has made it clear an increased div would not take place until the stock price was high enough to warrant it. This of course makes huge sense as the yearly div was already 11-15%. I do not even want to think where we go with a blowout quarter and a div increase, makes my head swim.
The investorhub boards only has a small number of people posting on it and I personally feel lucky that I found it. What I hope people understand about you is that you care, you care about the people who follow your advice.
Just wanted to take a minute to thank you and Pete.
Same here
Redemption of Its 10.75% Class A Convertible Preferred Units
NGL Energy Partners LP (NYSE:NGL) (the "Partnership" or "NGL") announced today that it has redeemed all 12,473,191 of the remaining issued and outstanding 10.75% Class A Convertible Preferred Units ("Class A Preferred Units") for a total redemption price of $13.2385 per unit, calculated as 110% of $12.035 per unit (the Class A Preferred Unit Price), or $165.1 million in total, plus all accrued but unpaid and accumulated distributions to, but not including, the redemption date of May 11, 2019. The redemption was funded through borrowings on the Partnership's revolving credit facility, resulting in expected annualized cost of capital savings based on current borrowing rates of approximately $9 million.
"NGL is pleased to have partnered with Oaktree over the past three years, including the participation of Jared Parker on our Board of Directors," stated Mike Krimbill, NGL's CEO. "The original equity contribution from funds managed by Oaktree Capital Management, L.P. ("Oaktree") in 2016 helped provide the capital required to complete our Grand Mesa Pipeline and manage a very challenging industry cycle. We appreciate the partnership with the Oaktree team and look forward to future opportunities for our firms to work together."
"Mike, Trey and the entire NGL team have done a terrific job growing value for NGL's unit holders through a particularly challenging market," stated Jared Parker, co-portfolio manager of Oaktree's Infrastructure Investing strategy. "We are pleased to have contributed to the company's success. We value our partnership with NGL and look forward to continuing to work together on new opportunities."
As a result of the full redemption of the Class A Preferred Units, Oaktree will no longer hold Board representation rights and NGL has accepted Mr. Parker's resignation from the Board of Directors of the Partnership's General Partner. The information in this press release shall not constitute a notice of redemption of any of the Partnership's securities.
About NGL Energy Partners LP
NGL Energy Partners LP is a Delaware limited partnership. NGL owns and operates a vertically integrated energy business with four primary businesses: water solutions, crude oil logistics, NGL logistics and refined products/renewables. For further information, visit the Partnership's website at www.nglenergypartners.com.
About Oaktree
Oaktree is a leader among global investment managers specializing in alternative investments, with $119 billion in assets under management as of March 31, 2019. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 950 employees and offices in 18 cities worldwide. For additional information, please visit Oaktree's website at http://www.oaktreecapital.com/.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190513005127/en/
Good info
You are welcome
https://leehamnews.com/2019/05/10/boeing-to-support-max-simulator-training-financial-analyst/
Hey all. As my business gets busy I cant get on the boards as much but wanted to stop by and say hey. As far as NGL goes, we sold off a bit due to a drop in oil price, pullback in the market and anticipated and the post ex-div date.
My only prediction for the short term is to speculate that we will rise right before earnings. Do we drop again before that? No idea but if we do, I will be tempted to add if we get $12.75. My guess is, if we do pullback, it will be directly related to oil prices.
NGL is facing a real turning point this reporting period. Beat up and dismissed by analysts for a long time, last quarter results signaled the beginning of a true recovery in NGL. If it can be followed by another solid quarter, now we get confirmation of a trend or at the beginning of a trend.
Good luck to us all
Just sharing info.
Next level of technical support $330
Senate hearings next week
The below link makes it clear that it will take more than just the FAA to get the 737 Max flying. The new joint task force called TAB will be reviewing the fix and making recommendations to FAA.
Boeing has not even submitted the fix yet and seems to have gone radio silent.
I exited my short position way to early today as I thought it would hold 360. I was wrong.
______________________________________________________________
The board known as TAB will assess Boeing’s proposed fix to the Maneuvering Characteristics Augmentation System (MCAS), the FAA said.
“The TAB is charged with evaluating Boeing and FAA efforts related to Boeing’s software update and its integration into the 737 MAX flight control system. The TAB will identify issues where further investigation is required prior to FAA approval of the design change,” the FAA said.
https://www.reuters.com/article/us-ethiopia-airplane-faa-boeing/faa-convenes-multi-agency-board-to-review-boeing-software-fix-idUSKCN1SD2AZ
Boeing hiding important info from airlines and FAA
https://fox5sandiego.com/2019/05/05/boeing-says-it-knew-about-737-max-issues-year-before-lion-air-crash-didnt-act/
Yesterday was a gift I could not pass up. It is rare for me to buy 1000 shares in one go but @ $13.27, had to do it.
I seem to recall this happening once before. For all anyone knows, it is some firm reducing its position in NGL to do something else coupled with Stoploss orders getting triggered. A return to $14 would not surprise me in the least.
1000 @ 13.27
.39 Div declared
Payable May 15; for shareholders of record May 7; ex-div May 6.
https://seekingalpha.com/news/3453969-ngl-energy-partners-declares-0_39-dividend
yep. Came on here to find out why pre market bid/ask is $5.70/5.90.
Lets see where we go today
Come on Pete, join the party for one day. I agree with you but for today, I am dreaming of a .50 div and a $20 stock