Welcome to our dedicated page for NGL ENERGY PARTNERS LP news (Ticker: NGL), a resource for investors and traders seeking the latest updates and insights on NGL ENERGY PARTNERS LP stock.
NGL Energy Partners LP, formed in 2010, is a US-based company that occupies a unique niche in the midstream energy sector. As a vertically integrated full-service Master Limited Partnership (MLP), NGL Energy Partners serves customers at various points along the crude oil and natural gas liquids supply chain, water treatment, and retail propane industry. This diversified platform allows the company to pursue multiple growth strategies effectively.
NGL Energy Partners operates through five main business segments:
- Crude Oil Logistics: This segment handles the marketing, storage, and transportation of crude oil. The company owns crude oil storage terminals and pipeline injection stations, ensuring seamless logistics operations across the United States.
- Water Solutions: NGL Energy Partners provides services for the treatment, disposal, and recycling of wastewater generated from crude oil and natural gas production. The company also manages the disposal of solids such as tank bottoms and drilling fluids.
- NGL Liquids: This segment focuses on the supply of natural gas liquids to retailers, wholesalers, refiners, and petrochemical plants. The company ensures a consistent supply chain for these essential products.
- Retail Propane: NGL Energy Partners sells propane directly to end-users, offering services that cater to residential, commercial, and agricultural needs.
- Refined Products/Renewables: The company is also involved in the marketing and distribution of refined petroleum products and renewable fuels, further diversifying its portfolio.
NGL Energy Partners' asset base spreads throughout the United States, establishing a competitive advantage. While the company is large enough to serve its extensive customer base effectively, it remains agile enough to respond quickly to emerging growth opportunities. This combination of size and flexibility positions NGL Energy Partners as a leader in the midstream energy sector.
The company has recently been involved in several noteworthy projects, enhancing its infrastructure and expanding its service offerings. Financially, NGL Energy Partners maintains a strong position, supported by strategic partnerships and a commitment to operational excellence.
For the latest updates and relevant information about their performance, events, and developments, NGL Energy Partners remains a significant player worth watching in the energy industry.
NGL Energy Partners LP reported mixed Q2 Fiscal 2025 results with net income dropping to $3.4 million from $28.3 million in Q2 Fiscal 2024. Adjusted EBITDA decreased to $147.3 million from $176.2 million year-over-year. The company reduced its SOFR margin from 4.50% to 3.75% and commenced operations on LEX II pipeline. Despite a 9% increase in disposed water volumes, NGL lowered its full-year consolidated Adjusted EBITDA guidance to $640-650 million due to projected warmer weather, lower crude oil prices, and Liquids Logistics performance.
NGL Energy Partners LP (NYSE: NGL) has announced quarterly distributions for its Class B, Class C, and Class D Preferred Units for the quarter ending September 30, 2024. The Class B Preferred Units will receive $0.8004 per unit, while the Class C Preferred Units will receive $0.7947 per unit. The Class D Preferred Units will receive a total distribution of $19,247,689.10. All distributions are set to be paid on October 15, 2024, to unitholders of record as of October 1, 2024. This announcement demonstrates NGL's commitment to providing returns to its preferred unitholders in accordance with the partnership agreement.
NGL Energy Partners LP (NYSE:NGL) reported its first quarter Fiscal 2025 financial results, highlighting net income of $10.5 million and Adjusted EBITDA of $144.3 million. The company declared and paid significant distributions to preferred unit holders, totaling $218.1 million. NGL also sold assets in New Mexico for approximately $81.5 million and authorized a $50 million common unit repurchase program.
The company reaffirmed its Fiscal 2025 guidance, projecting Water Solutions Adjusted EBITDA between $550-$560 million and full-year consolidated Adjusted EBITDA of $665 million. NGL's focus remains on balance sheet improvement through debt reduction and the completion of the LEX II pipeline. Additionally, the company amended its Term Loan B agreement, reducing the SOFR margin from 4.50% to 3.75%.
NGL Energy Partners LP (NYSE:NGL) has announced the availability of its 2023 Schedule K-3s, which contain information on international tax relevance. Unitholders can access their Schedule K-3 online at www.taxpackagesupport.com/ngl. This information is primarily relevant for foreign unitholders, those computing foreign tax credits, and certain corporate and partnership unitholders.
NGL does not plan to mail Schedule K-3s to investors. However, unitholders can request an electronic copy via email by calling Tax Package Support at (877) 222-3208. The Partnership encourages unitholders to review the information on the Schedule K-3 and consult with their tax advisors if necessary for their federal income tax return filing needs.
NGL Energy Partners LP (NYSE: NGL) has announced its plans to release its fiscal quarter earnings report for the period ending June 30, 2024. The report will be issued after market close on Thursday, August 8, 2024. Following the release, NGL's management team will host an earnings call at 4:00 pm CDT on the same day to discuss the financial results.
Interested parties can join the webcast via the provided event link or dial in using the conference code: NGL Energy Partners. An audio replay of the call will be available for 14 days, accessible by dialing a specific number and using the replay passcode 50965.
NGL Energy Partners LP (NYSE: NGL) announced its Board of Directors has declared quarterly cash distributions for its Class B, Class C, and Class D Preferred Units for the quarter ending June 30, 2024.
Class B Preferred Units, with a 12.511% floating rate, will receive $0.7820 per unit. Class C Preferred Units, with a 12.682% floating rate, will receive $0.7926 per unit. Both distributions will be paid on July 15, 2024, to holders of record on July 1, 2024.
Additionally, a distribution of $15,608,478.65 was declared for Class D Preferred Units, to be paid on the same date. These decisions align with the terms of NGL's partnership agreement.
NGL Energy Partners LP (NYSE:NGL) announced its fiscal 2024 fourth quarter and full year financial results, reporting a net loss of $143.1 million for the year, compared to a net income of $52.5 million in fiscal 2023.
The fourth quarter saw a net loss of $236.7 million, increased from a $33.2 million loss in the same period last year. Adjusted EBITDA for the year was $610.1 million, down from $632.7 million, with the fourth quarter at $147.5 million, down from $173.3 million.
Record performance was noted in Water Solutions with a 10% increase in Adjusted EBITDA to $508.3 million and a 4.1% increase in water disposal volumes. NGL also expanded its pipeline capacity and executed a $2.9 billion debt refinancing. Guidance for fiscal 2025 forecasts Water Solutions Adjusted EBITDA at $550-$560 million and consolidated Adjusted EBITDA at $665 million, with capital expenditures projected at $210 million.
Notably, NGL sold non-core assets for $69.3 million and initiated a $50 million common unit repurchase program.
NGL Energy Partners LP (NYSE: NGL) has announced a common unit repurchase program authorized by its Board of Directors, allowing the repurchase of up to $50 million of its outstanding units.
The program does not have a fixed expiration date, enabling NGL to purchase shares discretionarily through open market transactions or privately negotiated deals.
Additionally, repurchases can be made under a Rule 10b5-1 plan, allowing purchases even during periods when insider trading laws or self-imposed trading restrictions apply.
The number and timing of repurchases will depend on market conditions, stock price, trading volume, general business conditions, and capital availability. The program is flexible and can be modified, suspended, or terminated at any time without notice.
NGL Energy Partners LP (NYSE: NGL) will release its fiscal year ended March 31, 2024 earnings report on June 6, 2024, after market close. Following the release, NGL's management team will host an earnings call at 4:00 pm CDT to discuss the financial results. Interested parties can join the webcast or dial in using the provided access code. An audio replay will be available for 14 days post-call.
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