NGL Energy Partners: Distributions Might Not Return Until 2029 Or Later
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NGL Energy Partners has not declared common distributions since 2020 and may not resume them until 2029 or later due to financial obligations, including a potential $600 million redemption of Class D preferred units in 2028 and a $300 million cash shortfall over the next three years.
November 05, 2024 | 9:30 pm
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NGL Energy Partners has not declared common distributions since 2020 and may not resume them until 2029 or later due to financial obligations, including a potential $600 million redemption of Class D preferred units in 2028 and a $300 million cash shortfall over the next three years.
The lack of common distributions since 2020 and the potential $600 million obligation in 2028, along with a $300 million cash shortfall, indicate financial strain. This is likely to negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100