NGL Energy Partners LP (NGL)

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So, I have a thought that may not be so popular. NGL was unable to eliminate all the Preferred Convertible A’s. That is a fact via the recent SEC filings. They are going to continue to unload those converted units. (End of Day today- that was a sell of converted units).

We will have to eat these for quite some time. (They converted the whole preferred share position.) However, it becomes advantageous because NGL didn’t have to add more debt to settle the remainder of the balance.

My one hope is that management is using their buyback funds to eat up the remainder of converted shares. They have the ability.

Once again, just my thoughts.