Well, well, welllllll................look at whut the cat brung in!! (Not you, catdaddy!)
We are sinking on no news specific to NGL. This is probably a mix of stuff circulating today that may affect refiners adversely plus the usual other stuff foisted upon us in an attempt to sway our judgment so as to make grievous investment errors.
We now know that RINs aren't likely to be reduced this year and perhaps not even going into early 2018 quarters. Does it spell doom for the refiners? Of course not!
NGL is dropping because there are forces out there capable of controlling market perception. It's not for me to know for dead sure what those forces might be but as a moderator I believe my main responsibility is that of addressing opportunity to gain. I'll leave the worrying to others better predisposed that way.
NGL is going to have a hellacious year in 2018. I have zero doubts when it comes to that determination. Everything that could possibly enter into the critical equations has been factored in by the company...from the purchase of assets to completing very highly accretive pipeline adds to setting up ever more efficient credit facilities to the retirement of debentures originally set at less attractive rates than are available today. And there's more, of course, but this is enough for me.
It looks like I'm going to have to pick up a couple of hundred units although I wish I weren't feeling so compelled as said buy will have to be on margin. Then again, my margin rate is 5.4% and I'm certain I'll exceed that very easily.
In a nutshell, folks---this is the time to be adding and/or starting a position. The company itself is very strong with wonderful yield cash going to us every quarter. At $13.60 with a payout rate of $1.56/year, we're getting better than 11.5% for a fabulous yield. A $100,000 investment here will bring in a minimum of $11,500 yearly and we will likely find the distribution basis increase going forward.
Always do as you believe will have you comfortable. Never let anybody decide things for you. I brung me to the dance and that means I've got to live with and within myself, no matter what.
So ignore everything I've just said and buy the crap out of NGL at these bargain-basement prices! lol
I'm a buyer, myself.
