Following up on my post of yesterday regarding calling the Investor Relations department of NGL.......
Yesterday afternoon I left a message for a call-back at 3:15pm. This morning at 9:45am I got a return call from the gentleman responsible for handling NGL's investor relations responsibility.
We discussed a number of matters, focusing primarily on how to regain the public trust after losing significant credibility due to CEO Krimball's assurances that the company could be depended upon for steady distribution increases going forward. He and I have very similar professional backgrounds and we were completely comfortable talking the jargon and trading ideas.
What we came up with is recognition of the value of a corporate statement acknowledging that it's business as usual at NGL and everything is in the works as before the debacle eviscerating earlier ascribed valuation.
It has not been part of NGL's protocol to issue statements in defense of corporate initiatives but I pointed out that social media are undoubtedly reaching for the jugular and having a grand old time of it.
As things stand, a proposal is being prepared for NGL leadership to consider putting out an official update designed to reassure the investment community that all things are "on go" and company organics are as before the big drop in valuation. It's business as usual.
The company traditionally rides on laurels earned as a direct result of quarterly achievements---be they goals or those in combination with some newly specified as a result of freshly introduced initiatives.
According to IR, the earnings call and transcript convey publicly a somewhat conciliatory tone owing to the discrepancy to be observed in Krimball's tone and the transcript itself. When I mentioned that the audience was far too small to be meaningful, he checked and found that 125 people listened in on the call. Point made as he told me that included brokers, analysts and sector writers. Had I listened in, I'd have been #126. I stated that something is terribly wrong in this for I know well, as a writer on oil and gas in the past--- writers attend such occasions when they smell opportunity to make waves and increase their distributive share of readership. NGL's IR man agreed completely.
So now we wait to see if there's follow-through with some sort of an announcement speaking to an update of actions demonstrating investor concern. I do not think we will be disappointed.
At the same time---if more of us were to call Investor Relations and ask for more clarification on a public scale, I'm betting we will see greater understanding and concern for the welfare of loyal unitholders.
You know what they say about the squeaky hinge being first in line for oiling? Ditto when it comes to public sentiment involving a publicly traded company. This is our company, is it not? Don't we own it, collectively? And if we're not receiving fair and sensible treatment, isn't it our responsibility to make this known to those in charge?
Come on, folks---call NGL at 918-418-1119.
There's nothing to be afraid of. The IR man is very matter of fact, and as logical as could be. I could plainly see that my concerns are his concerns, NGL's concerns. If I've been able to bring NGL a little closer to addressing this issue of distrust among the investment community, then I'll feel I did a good thing for us all. If you people call, you'll help drive the message home to those in position to make good things happen for us all.
Just call and express concern for the public distrust because CEO Krimball failed to deliver on his personal pledge to raise distributions as hoped. You can also express gratitude for the BOD's willingness to be truthful and focused on NGL's job at hand which is to carve profits out of opportunity. Often a BOD will go into hiding and not move sensibly.
Know this---we are on target to have a very strong 2018. It's only six months away, not a long time, certainly. Right now, though, public sentiment is very much an integral part of the cast of characters responsible for NGL's fortunes---and that means our fortunes.
So call, won't you? You don't have to know a lot about stocks, NGL or business. You DO have to know you are concerned about your investment that is currently finding itself at odds because NGL over-promised and under-delivered.
Call now, please! Do it for all of us.
