Boy, it's damned good to know you're as enthusiastic as some of us others are! Pete807, Wall Street Rocker and I have loaded up big time for sure. And there are others here for whom I have special feelings and they, too, have added to their conviction. It is a joyful moment when reflecting on the happiness NGL's eventual success promises each of us.
This is a Fortune 500 company. There's not an infinite number of those, certainly. And the company has a number of irons in the fire that aren't necessarily touted in PRs as the company is very close-mouthed until such time as it's necessary to file a mandated SEC document because of a bottom-line effect coming into view. It's the:"oil-patch" style for sure.
Even at the currently printed $10.40, $1.56/annum amounts to (numerically speaking only) 15%. That places the yield at somewhere in the range of 15.3% or greater from a back-of-the napkin perspective. 8% is above the median MLP yield (Alerian index) so even a most conservative number-crunching would have us boasting a valuation of $20 as you point out.
It is so gratifying to find NGL and ALDW moving strongly to the upside. We know they must, not only because of the approaching ex-distribution days but also because I'd bet my life on there being a growing sense of urgency in the investment community that has people realizing they'd better jump on the Wagon of Profits now, before the well dries up for them when valuations are driven too high for them to afford.
Be happy, Father of the Cats!
