NGL Energy Partners: Distributions Might Not Return Until 2029 Or Later
Portfolio Pulse from
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