NGL Energy Partners LP (NGL)

[rocket man]

Jugs
This is what gives me confidence in NGL:

As we have stated previously, it does not make sense to raise our distribution at a time when we are yielding an excess of 10%. And we have no intention of reducing it. Investors in NGL are better served by further debt reduction, self funding attractive internal growth projects and purchasing our own common units. To that end, our Board of Directors has approved NGL seeking the consent needed from the banks and our credit facility to undertake a $150 million common unit repurchase program. While such discussions have commenced, no assurance can be given that such a consent will be ultimately granted. Looking at the remainder of this fiscal year, we remain confident in achieving our $450 million EBITDA guidance and leverage at or under 3.25x, assuming no acquisitions. This will happen no later than March 31 of '19, which is our fiscal year-end.

And this is why I am baffled about the share price. When this turns around, there will be hell to pay for anyone short. Hopefully they can cover before they get burned too bad.