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Friday, October 05, 2018 10:54:06 AM
We don't know the extent of your NGL position nor the cost basis but my sense is that you're heading towards good numbers. We all hope so, I'm sure!
I believe I've now closed out my campaign to acquire a larger position in NGL. Did a number of buys this morning involving margin as well as selling portions of other picks. What I'm doing is weighing the pros & cons based on vacillating parameters. Underlying all is a stark reality: I refuse to go through life owing money.
At this point in time I've exceeded my dry powder, using margin as an offset for the powder stash (in a checking account) plus $36,000 overage. What this boils down to is I may get the urge to sell 2,000 NGL units in a month or so when I'm out from under the wrath of the wash-rule 30-day requirement. I'll be ahead $780 (distribution $$) for my trouble plus however much units will have climbed by that time---following ex-distribution day, of course. I pay just 5.4% in margin interest per year so distributions exceed margin interest by more than 2.5 times meaning a lot of money can be made through leveraging in this way.
So, then---I now hold 52,000 units of NGL with a cost basis of almost $10.29. Never in my life would I ever have thought I'd be investing like this, frankly. Yet I know it's paying off---I'm seeing a gain of nearly $50,000 so something is going right!
And I am definitely out of cash for now so I'll be living with my current position for the indefinite future with no room for expanding holdings as doing so would require that I abandon my personal financial boundaries. I won't do that as it would border on irresponsibility.
I do hope others here are taking advantage of things. srains has consistently pointed out the great opportunity we've been handed with NGL pricing at around $11. It is extraordinary to us but we are of the relative few who know what is actually going on in this company as it redefines itself.
Recent NGL News
- 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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