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Krimbill sold 33,263 on November 10th. Don't see where he bought any recently.
I am looking at starting a position again with ET. I previously held 6500 units about a year and half ago. After listening to the last CC, what could happen if they converted to a C-Corp. Could we see a positive increase in holdings($)? How about the distribution?
I would assume it would decrease % wise and/or $ wise.
My concern here is with future distributions. With the share price so low, they could cut it. I know they said they are defending the current distribution, but after the shellacking I got from EQM when they said their distribution safe and they cut it from 1.16 to .3875, I hope they don't. I currently have over 54,000 units, not too concerned with unit price, more about the distribution.
I got totally screwed today by EQM. They lied at their last conference call stating the distribution would stay until the MVP pipeline came on. Sold all of it and ending up buying 19,823 units of NGL at an average cost of 8.024. I hope NGL is honest with their unit holders. Not a good day for me, other than the .586/unit gain on what I bought today.
Good one. No, I am an Oldsmobile fan. Anyone that knows what Olds called their motors is probably ready for retirement. LOL
Pete
How thick was the ice there. Would love to do some lake trout fishing some day. Ice on our side(Warroad) is 14"-17". Last night and today should add a couple. We had -30F this morning. My step daughter caught a 27" walleye and a 14 3/4" perch on Sunday. Hopefully get out this coming weekend.
Happy New Year to all the NGL longs, looking forward to my 9K payday in February.
Rick
As long as our distributions are safe, I could care less if it sells for $9 or $15. When the day comes when I close my position, I am sure it will be much higher than it is today. In the last conference call, they said the distribution is safe, and wouldn't raise it as it was over 10%. When the share price hits $15 plus, maybe they will raise it. Target coverage is 1.3x according to last call.
I did pick up another 210 at 8.86 yesterday. Looking forward to another 9K come February.
GLTA
Rick
https://www.dividendchannel.com/
Might find some good info here.
Jugs
This is what gives me confidence in NGL:
As we have stated previously, it does not make sense to raise our distribution at a time when we are yielding an excess of 10%. And we have no intention of reducing it. Investors in NGL are better served by further debt reduction, self funding attractive internal growth projects and purchasing our own common units. To that end, our Board of Directors has approved NGL seeking the consent needed from the banks and our credit facility to undertake a $150 million common unit repurchase program. While such discussions have commenced, no assurance can be given that such a consent will be ultimately granted. Looking at the remainder of this fiscal year, we remain confident in achieving our $450 million EBITDA guidance and leverage at or under 3.25x, assuming no acquisitions. This will happen no later than March 31 of '19, which is our fiscal year-end.
And this is why I am baffled about the share price. When this turns around, there will be hell to pay for anyone short. Hopefully they can cover before they get burned too bad.
I don't understand why the share price is discounted so much. I'm not complaining, just adding more units. With all the positive news, it baffles me. Today I added 850@9.38, 854@9.50, & 97@9.58. Now sitting on 22,857 shares at a cost basis of $10.11 before all distributions and a cost basis of $9.13 including distributions. Only been in this since August 2017. I am in this for the long haul as I plan on retiring next spring and will be relying on this for part of my retirement income. Any share price appreciation is just icing on the cake.
I want to thank Jugs and others for their insight on this.
The concern I have with the falling price, can it be because of tax consequences from the propane sale? Thoughts.
I bailed out on CVI for a nice profit & ET with a small loss and bought NGL at the following:9/24 2790 @ 10.99, 10/26 3279 @ 10.15, 10/29 3180 @ 9.71 & 1000 @ 9.72. Currently sitting at 21014.
Everything I have studied tells me to buy more, but for now caution will be my guide.
I am just waiting until I see some positive movement, both in share price and news. I'm down quite a bit, average cost is 15.52, not counting distributions. If the ship gets right, I will pile on a lot more.
Picked up another 623 units yesterday, sitting at 10,531. Average cost is 10.11, not including distributions. I think I will be done adding for the time being and will watch what happens.
Jugs
I know it is an active board, with only one poster in the last 2 years. Other companies have been brought up here. I won't bring it up again.
Rick
I have been buying a few units here and there, currently at 9908. Question for everyone, does anyone own MMLP? It has been in a downward spiral, but they seem to be getting their ducks in a row. Currently have 6701 shares.
Rick
Jugs
I hit a homerun on another stock, OLED. Got in around 32 and is currently at 195ish. Had over 7000 shares, but have been selling off and getting stocks with distributions or dividends. Still have 5663 of OLED. I am 61 and ready to hang it up and enjoy life.
Rick
Pete807
I notice you keep talking about the great north. I am just out of Warroad. Got into NGL a few months ago at 9.48. Have a little over 9000 shares. I kinda stumbled onto this. Have been enjoying the ride.
Rick