Thursday, August 03, 2017 12:08:17 PM
Coverage for the next two or more quarters stands at better than 1.2 times. This means they've got the next two quarters---at a minimum---already covered. This, it should be noted, had to be approved by banks providing lines of credit facilities critical to daily operations and longer. For the distribution-minded, this is the overriding essential.
As presented earlier, steps have already been taken to stave the bleeding. In fact, Trey, the CFO, humorously noted that their focus of late has been that of establishing safe grounds on which they can now state that the bleeding has effectively stopped. Trey is the IR boss and CFO with whom I spoke several weeks ago. Very sharp fellow, indeed.
The warm winter, second of the last two as a matter of record and fact, accounts for some of the losses incurred. New hedges have been put into place, particularly where the potential for losses depends upon utilization of line space. This is a reference to volumetric issues (using our pipeline space) with up and/or downsides due to difficulties experienced by companies with which we have larger contracts. Cited was the Northeast which, due to winter's above average temperatures, failed to deliver as anticipated. NGL has reworked contracts and now there are hedges in place guaranteeing that NGL will be protected meaningfully should we have another hot winter.
I'll suggest everyone listen to the replay as there's much more than I've reiterated above. I'll be doing the same thing, myself.
As for how I've handled my NGL stock position:
I've added a thousand units and now hold 17,0900 units of NGL. My cost basis is $13.31. I currently show a paper loss of $50,800.
That's a major ouch! but I find it tolerable. This is where an investor has to decide whether or not to stand strong in his convictions or sell out to negative forces in play. And make no mistake, they are definitely out there working their bags of tricks.
So much of today's sour attitude is based on the simple issue of NGL having lost money this past quarter. It doesn't consider steps taken to stave the bleeding. Nor does it begin to recognize that the next couple of quarters paying 39 cents per each) and a reiterated rate of $1.56 per annum means units bought today at, say, $10---are in line to receive a yield of about 16%.
Good luck to all and please----do not jump off a bridge because forces out there are painting things in the most absurdly horrid ways. This is, after all, how shorts make a living. Besides, you won't be the one having to wipe your splatter off the sidewalk. lol
Not so funny but it needed to be addressed.
Recent NGL News
- NGL Energy Partners LP Announces Quarterly Cash Distribution for the Class B, Class C, and Class D Preferred Units • Business Wire • 09/19/2024 10:30:00 AM
- NGL Energy Partners LP Announces First Quarter Fiscal 2025 Financial Results • Business Wire • 08/08/2024 08:35:00 PM
- NGL Energy Partners LP Announces Availability of Its 2023 Schedule K-3s • Business Wire • 08/01/2024 10:30:00 AM
- NGL Energy Partners Announces Earnings Call • Business Wire • 07/26/2024 10:30:00 AM
- NGL Energy Partners LP Announces Quarterly Cash Distribution for the Class B, Class C, and Class D Preferred Units • Business Wire • 06/21/2024 10:25:00 AM
- DocuSign Stocks Drop 8.5%, Braze Surges 15% as 1Q Results Beat Expectations, and More in Earning • IH Market News • 06/07/2024 12:09:36 PM
- NGL Energy Partners LP Announces Fourth Quarter and Full Year Fiscal 2024 Financial Results; Guidance for Fiscal 2025 • Business Wire • 06/06/2024 08:33:00 PM
- NGL Energy Partners LP Announces $50 Million LP Common Unit Repurchase Program • Business Wire • 06/06/2024 08:20:00 PM
- US Index Futures Mixed; Oil Prices Rise • IH Market News • 06/06/2024 11:29:43 AM
- NGL Energy Partners Announces Earnings Call • Business Wire • 05/16/2024 08:33:00 PM
- NGL Energy Partners LP Announces the Payment of All Outstanding Distribution Arrearages for Class B, Class C and Class D Preferred Units as of Payment Date April 25, 2024 • Business Wire • 04/09/2024 09:15:00 PM
- NGL Energy Partners LP Announces Sale of the New Mexico Ranches • Business Wire • 04/05/2024 04:46:00 PM
- NGL Energy Partners LP Announces Cash Distribution of 55.4% of Outstanding Arrearages for Class B, Class C and Class D Preferred Units • Business Wire • 04/04/2024 10:26:00 PM
- NGL Energy Partners LP Announces Status of Investor Tax Packages • Business Wire • 03/04/2024 09:45:00 PM
- NGL Energy Partners LP Announces Third Quarter Fiscal 2024 Financial Results • Business Wire • 02/08/2024 09:33:00 PM
- NGL Energy Partners LP Announces Cash Distribution of 50% of Outstanding Arrearages for Class B, Class C and Class D Preferred Units • Business Wire • 02/06/2024 10:33:00 PM
- NGL Closes $2.9 Billion Debt Refinancing Transactions and Amends and Extends Asset-Based Revolving Credit Facility • Business Wire • 02/02/2024 05:55:00 PM
- NGL Energy Partners Announces Earnings Call • Business Wire • 01/30/2024 09:45:00 PM
- NGL Energy Partners LP Announces Pricing of $2.2 Billion Offering of Senior Secured Notes • Business Wire • 01/25/2024 09:58:00 PM
- NGL Energy Partners LP Announces $2.1 Billion Offering of Senior Secured Notes • Business Wire • 01/23/2024 09:35:00 PM
- NGL Energy Partners LP Announces LEX II Large Diameter Pipeline Supported by New MVC and Extension of Acreage Dedication • Business Wire • 01/22/2024 11:30:00 AM
- NGL Energy Partners LP Announces $700 Million Senior Secured Term Loan Facility and Provides Financial Update • Business Wire • 01/17/2024 10:48:00 PM
- NGL Energy Partners LP Announces 2023 Open Season for Grand Mesa Pipeline Starting December 6, 2023 • Business Wire • 12/06/2023 11:30:00 AM
- NGL Energy Partners LP Announces Second Quarter Fiscal 2024 Financial Results • Business Wire • 11/09/2023 09:23:00 PM
- NGL Energy Partners Announces Earnings Call • Business Wire • 10/20/2023 10:30:00 AM
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