NGL Energy Partners LP

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  • Must-know: How does AmeriGas stack up against its competition?
    Energy & Utilities

    Must-know: How does AmeriGas stack up against its competition?

    APU competes with Suburban Propane (SPH) and Ferrellgas Partners (FGP). APU is the country’s largest retail propane marketer, serving 2 million customers in all 50 states.

    By Keisha Bandz
  • uploads///EBITDA breakdown
    Earnings Report

    Pipeline Segment Will Drive NuStar Energy’s 4Q15 Performance

    The pipeline segment is NuStar’s largest business segment in terms of the EBITDA. It accounted for 50% of the total segment EBITDA in the first nine months of 2015.

    By Kurt Gallon
  • uploads///midstream returns
    Miscellaneous

    Options Traders Should Watch Midstream Stock Returns

    EnLink Midstream rose 63.2% in the past year ending on February 6. It has the highest implied volatility of all the midstream companies that make up AMLP.

    By Rabindra Samanta
  • uploads///Analyst Ratings
    Earnings Report

    What Do Analysts Recommend for NGL Energy?

    ~50% of analysts rate NGL Energy a “hold,” ~40% rate it a “buy,” and the remaining ~10% rate it a “sell.”

    By Kurt Gallon
  • uploads///Propane Stocks
    Macroeconomic Analysis

    Why Was Greater Propane Demand Unable to Push Prices?

    US residential propane demand is 1.5 MMbpd for the week ended December 4. This was 0.24 MMbpd more than the demand in the week ended November 27.

    By Manu Milan
  • uploads///propane inventories
    Macroeconomic Analysis

    US Propane Inventories Up, Residential Prices Down versus 2014

    In the week ended October 9, 2015, US propane inventories rose by 1.8 MMbbls (million barrels) to 102.2 MMbbls.

    By Keisha Bandz
  • uploads///FGPs Organizational Structure
    Energy & Utilities

    Ferrellgas Partners (FGP): An investor’s must-know overview

    Ferrellgas Partners, L.P. (FGP), a master limited partnership (MLP), is the second largest retail propane distributor in the U.S. serving all 50 states, the District of Columbia and Puerto Rico, as measured by the volume of retail sales in fiscal 2013, and the largest national provider of propane by portable tank exchange.

    By Keisha Bandz
  • uploads///Gains
    Basic Materials

    These MLPs Rose More Than 9% in Week Ended January 5

    CVR Partners (UAN) was the top MLP gainer last week, which ended on January 5, 2018. It rose 23.2%.

    By Kurt Gallon
  • uploads///return
    Miscellaneous

    Midstream Stocks: How Returns Affect Implied Volatility

    Teekay LNG Partners (TGP) stock has risen 37.9% in the past year as of March 20, 2017.

    By Rabindra Samanta
  • uploads///Gains
    Energy & Utilities

    These MLPs Rose More than 6.0% in the Week Ended September 29

    Upstream MLPs EV Energy Partners (EVEP), Mid-Con Energy Partners (MCEP), and Legacy Reserves (LGCY) rose 17.6%, 13.7%, and 11.8%, respectively, in the week ended September 29.

    By Kurt Gallon
  • uploads///propane stocks
    Macroeconomic Analysis

    US Propane Inventories Rose in Week Ending August 28

    Propane production is outstripping demand by a considerable margin. This explains the steady build in propane inventories.

    By Keisha Bandz
  • uploads///top losers
    Energy & Utilities

    DMLP, LNG, and NGL: Top MLP and Midstream Losses Last Week

    Dorchester Minerals (DMLP), NGL Energy Partners (NGL), CVR Refining (CVRR), and Hi-Crush Partners (HCLP) were among the top losses last week.

    By Rekha Khandelwal, CFA
  • uploads///analyst recom
    Energy & Utilities

    NGL, CAPL, SRLP, and SPH: Analysts’ Recommendations

    Of the six analysts covering NGL Energy Partners, one rated it as a “strong buy,” three rated it as a “buy,” and two rated it as a “hold.”

    By Rekha Khandelwal, CFA
  • uploads///AMLP
    Macroeconomic Analysis

    AMLP Rose Last Week in a Good Week for Energy Stock ETFs

    AMLP gained almost as much as the VanEck Vectors Oil Services ETF (OIH) in the week ending August 14.

    By Keisha Bandz
  • uploads///Loss
    Energy & Utilities

    Last Week’s Worst MLP Performers

    Summit Midstream Partners (SMLP), a midstream MLP mainly involved in natural gas gathering, processing, and compression, was the worst MLP performer last week.

    By Kurt Gallon
  • uploads///propane
    Macroeconomic Analysis

    Propane Inventories off the Chart: Prices Fell ~8% Last Week

    In the week ended August 21, US propane inventories rose by 1.9 MMbbls (million barrels) to 95.7 MMbbls.

    By Keisha Bandz
  • uploads///propane
    Macroeconomic Analysis

    US Propane Inventories Slow in Some Regions, Weekly Prices Up

    In the week ended September 11, US propane inventories rose 1.1 MMbbls to 97.7 MMbbls. These levels are 20.3 MMbbls greater, or 26.2% higher, than they were in the corresponding period last year.

    By Keisha Bandz
  • uploads///ANR
    Company & Industry Overviews

    What Do Analysts Recommend for NGL Energy Partners?

    62.5% of analysts rate NGL Energy Partners a “buy,” 12.5% rate it as a “hold,” and the remaining 25.0% rate it as a “sell.”

    By Kurt Gallon
  • uploads///propane
    Macroeconomic Analysis

    US Propane Inventories and Prices Rise in Week Ended September 4

    In the week ended September 4, US propane inventories rose 0.2 MMbbls to 96.6 MMbbls. These levels are 20.5 MMbbls greater, or 27% higher, than they were in the corresponding period last year.

    By Keisha Bandz
  • uploads///
    Energy & Utilities

    Why higher natural gas liquids prices help natural gas processors

    Fractionation spreads increased on the back of higher natural gas liquids prices, a positive for natural gas processor master limited partnerships.

    By Ingrid Pan
  • Energy & Utilities

    Why Martin Midstream Partners could grow with Alinda’s support

    Alinda is one of the world’s largest independently owned infrastructure investment firms. It has approximately $7.8 billion in equity commitments for infrastructure investments.

    By Alex Chamberlin
  • uploads///top mlp losers
    Energy & Utilities

    A Look at Last Week’s Worst Midstream Performances

    Hi-Crush Partners (HCLP) fell 5% during the week that ended on August 24. The stock has been on a downward trajectory for over a month.

    By Rekha Khandelwal, CFA
  • uploads///propane stocks
    Macroeconomic Analysis

    Propane Stocks Continued Skyward in Week Ended August 14

    US propane production fell from 1.651 MMbpd (million barrels per day) in the week ended August 7 to ~1.620 MMbpd in the week ended August 14.

    By Keisha Bandz
  • uploads///propane inv
    Macroeconomic Analysis

    US Propane Inventories Rise along with Weekly Prices

    In the week ended October 30, 2015, US propane inventories rose by 0.8 MMbbls to 102.4 MMbbls. This is 27.8% greater than in the corresponding period last year.

    By Keisha Bandz
  • uploads///IV
    Energy & Utilities

    Midstream Stocks with High and Low Implied Volatilities

    As of September 2, 2016, Enable Midstream Partners (ENBL) had the highest implied volatility at 45.6% among all of the midstream companies.

    By Rabindra Samanta
  • uploads///propane prices
    Energy & Utilities

    Energy outlook: Weather forecasts also affect propane prices

    Propane is a natural gas liquid (or NGLs). NGLs are hydrocarbons—in the same family of molecules as natural gas and crude oil. Other NGLs include Ethane, butane, and pentane.

    By Keisha Bandz
  • Energy & Utilities

    Why marine shipping is so important to Martin Midstream Partners

    Martin Midstream Partners’ Marine Transportation segment operates fleets of tows along major inland and seaborne petroleum product transportation routes.

    By Alex Chamberlin
  • uploads///Loss
    Energy & Utilities

    Which MLPs Lost More than 10.0% in the Week Ending February 9?

    NuStar GP Holdings (NSH) and its limited partnership, NuStar Energy (NS), were the top two MLP losers in the week ending February 9.

    By Kurt Gallon
  • uploads///MLP
    Energy & Utilities

    Looking at Energy MLPs with Strong Growth Prospects

    The market sees energy MLPs as defensives due to their relatively higher yields. We’ll look at the energy MLPs with solid yields and robust capital gains.

    By Vineet Kulkarni
  • uploads///Ylds
    Company & Industry Overviews

    Comparing Cheniere Energy Partners’ Yield with Its Peers’

    Cheniere Energy Partners (CQP), Cheniere Energy’s MLP subsidiary, is currently trading at a distribution yield of 5.6%.

    By Vineet Kulkarni
  • uploads///analysts ratings
    Energy & Utilities

    MLP and Midstream Rating Updates Last Week

    On February 19, TD Securities raised its target price for Enbridge (ENB) from 56 Canadian dollars to 57 Canadian dollars.

    By Rekha Khandelwal, CFA
  • uploads///outperformers
    Company & Industry Overviews

    OKE, VNOM, and NGL: Top MLP and Midstream Gains Last Week

    Hi-Crush Partners (HCLP), Viper Energy Partners (VNOM), and Dorchester Minerals (DMLP) were among the top MLP gainers last week.

    By Rekha Khandelwal, CFA
  • uploads///analyst recom
    Energy & Utilities

    Which High-Yield MLPs Do Analysts Recommend?

    Around 40% of the analysts rated Suburban Propane Partners as a “buy.” The stock offers an upside potential of 21% from the current price.

    By Rekha Khandelwal, CFA
  • uploads///featured image
    Company & Industry Overviews

    7 MLPs Offering a Yield above 10%

    NGL Energy Partners is trading at a yield of ~14.1%. NGL Energy Partners’ distributions have been flat for the last ten quarters.

    By Rekha Khandelwal, CFA
  • uploads///top outperformers
    Energy & Utilities

    AM, NGL, AMGP, and SPH Outperformed Last Week

    On October 9, Antero Midstream Partners (AM) and Antero Midstream GP (AMGP) announced a simplification transaction.

    By Rekha Khandelwal, CFA
  • uploads///bull _
    Company & Industry Overviews

    These Five MLPs Offer up to 25% Upside Potential

    NGL Energy Partners (NGL), one of the smallest constituents of AMLP, offers the highest upside potential of 25% for the next 12 months.

    By Vineet Kulkarni
  • uploads///NBL
    Company & Industry Overviews

    Capital World Investors Sold a Major Position in NBL in Q2

    So far in this series, we’ve looked at institutional investments in five major oil-weighted E&P (exploration and production) stocks: ConocoPhillips (COP), EOG Resources (EOG), Occidental Petroleum (OXY), Anadarko Petroleum (APC), and Pioneer Natural Resources (PXD).

    By Kurt Gallon
  • uploads///CVRR
    Company & Industry Overviews

    Is CVR Refining’s 14% Yield Really Attractive?

    Based on its latest quarterly distribution annualized, CVR Refining (CVRR) is trading at a yield of ~14%.

    By Rekha Khandelwal, CFA
  • uploads///NGL
    Company & Industry Overviews

    NGL Energy Partners Has Fallen 16% in 2018: What’s Next?

    NGL Energy Partners (NGL) is trading at a yield of ~12.2%. The stock has fallen 16% so far in 2018.

    By Rekha Khandelwal, CFA
  • uploads///Gains
    Basic Materials

    The Top MLP Gainers as of December 8

    CVR Partners, an MLP involved in nitrogen fertilizer production, was the biggest MLP gainer last week (ended December 8), rising 17.4% during the week.

    By Kurt Gallon
  • uploads///why did snmp outperform
    Company & Industry Overviews

    What’s Driving Sanchez Midstream Partners in 2017

    SNMP’s rise Sanchez Midstream Partners (SNMP) has risen just ~4% year-to-date. However, it still made the list of top ten MLP gainers, as the sector has fallen ~15%. Sanchez Midstream Partners owns oil and natural gas gathering systems, natural gas pipelines, and a natural gas processing facility—all located in the Western Eagle Ford in South Texas. The […]

    By Rekha Khandelwal, CFA
  • uploads///Gains
    Energy & Utilities

    Top MLP Gainers for Week Ended November 10

    CSI Compressco (CCLP), a midstream MLP involved mainly in natural gas compression, was the biggest MLP gainer last week, which ended November 10, 2017.

    By Kurt Gallon
  • uploads///Gains
    Basic Materials

    Which MLPs Rose More than 4% in the Week Ending September 15?

    Dominion Midstream Partners (DM) was the top MLP gainer in the week ending September 22, 2017. Dominion Midstream rose 12.1% during the week.

    By Kurt Gallon
  • uploads///can snmp usdp continue to raise dist
    Company & Industry Overviews

    These Five Midstream MLPs Offer Highest Yield

    In this part, we’ll analyze the distribution growth and coverage of five of the ten MLPs that we are discussing in this series.

    By Rekha Khandelwal, CFA
  • uploads///top ten mlps by dis yield
    Company & Industry Overviews

    These 10 MLPs Offer the Highest Yields

    In this series, we’ll discuss the ten MLPs with the highest yields. We’ll compare the yields they offer, the reasons for the high yields, and if the yields are attractive considering the risks involved for each of these MLPs.

    By Rekha Khandelwal, CFA
  • uploads///p
    Energy & Utilities

    Whiting Petroleum Was the Top Energy Gainer Last Week

    On September 8–15, 2017, upstream company Whiting Petroleum (WLL) outperformed the energy sector stocks.

    By Rabindra Samanta
  • uploads///Gains
    Basic Materials

    These MLPs Rose More than 6% Last Week

    NGL Energy Partners (NGL) was the top MLP gainer last week. NGL rose 17.2% during the week due to the rally in crude oil prices.

    By Kurt Gallon
  • uploads///Loss
    Energy & Utilities

    Top MLPs Losers Last Week, Ended September 1

    Teekay Offshore Partners (TOO) was the top MLP loser last week, which ended September 1, 2017. It fell 6.3%.

    By Kurt Gallon
  • uploads/// Week lows and highs
    Miscellaneous

    MLPs Approach Their 52-Week Lows amid Crude Oil Price Weakness

    MLPs have seen a series of major sell-offs due to significant weakness in crude oil prices. The Alerian MLP ETF (AMLP) has fallen 7.5% since the beginning of June 2017.

    By Kurt Gallon
  • uploads///segment ebitda
    Earnings Report

    Which Segment Will Drive Williams Partners’ 1Q17 Performance?

    Williams Companies (WMB) operates as a GP (general partner) of Williams Partners (WPZ) with very few business assets.…

    By Kurt Gallon
  • uploads///Midstream return
    Miscellaneous

    What’s behind EnLink Midstream’s High Implied Volatility?

    EnLink Midstream rose 48.4% in the past year ending on January 30. It has the highest implied volatility of all the midstream companies that make up AMLP.

    By Rabindra Samanta
  • uploads///image
    Miscellaneous

    Which Midstream Stocks Have the Highest Implied Volatilities?

    On January 23, EnLink Midstream had an implied volatility of 40.1%—the highest among the midstream companies in the Alerian MLP ETF (AMLP).

    By Rabindra Samanta
  • uploads///total returns
    Company & Industry Overviews

    How the Slight Recovery in MLPs Pushed Them ahead of the S&P 500

    During the early-2016 fall in US energy prices, investors dumped anything related to oil and natural gas. Even MLPs saw major sell-offs.

    By Kurt Gallon
  • uploads///Inst ownership
    Company & Industry Overviews

    NGL Energy’s Short Interest is on Par With the Industry Average

    NGL Energy’s (NGL) short interest as a percentage of float has moved dramatically since the beginning of 2016.

    By Kurt Gallon
  • uploads///EV to EBITDA
    Company & Industry Overviews

    What Does NGL Energy’s Current Valuation Mean?

    NGL Energy’s EV-to-adjusted EBITDA ratio, using its trailing-12-month adjusted EBITDA, is 12.0x.

    By Kurt Gallon
  • uploads///EBITDA estimates
    Earnings Report

    Analyzing NuStar Energy’s 1Q16 EBITDA Estimates

    NuStar Energy is expected to release its 1Q16 earnings on April 27. Wall Street analysts’ 1Q16 consensus EBITDA estimate for NuStar Energy is $144.3 million.

    By Kurt Gallon
  • uploads///U
    Macroeconomic Analysis

    NOOA Forecasts Mild Weather, but Will Propane Demand Slide Further?

    US residential propane demand was at 1.03 MMbpd for the week ending January 15. Propane demand was 0.39 MMbpd less than the prior week’s demand.

    By Manu Milan
  • uploads///BPL segment ebitda
    Company & Industry Overviews

    Analysis of Buckeye Partners’ Recent Operating Performance

    Buckeye Partners’ adjusted EBITDA from continuing operations increased to $204.2 million in 3Q15 from $200.6 million in 3Q14—a marginal increase of 1.2%.

    By Kurt Gallon
  • uploads///U
    Macroeconomic Analysis

    A Surge in Propane Demand: Will the Trend Continue?

    The rise in propane demand pushed the price of propane up $0.01 per gallon. Since propane is used for heat in some US households, propane demand generally rises in mid-winter months.

    By Manu Milan
  • uploads///U
    Macroeconomic Analysis

    Propane Demand and Cold Forecasts Pushed Propane Prices

    The EIA’s weekly propane and heating oil update reported that US residential propane demand is 1.3 MMbpd (million barrels per day) for the week ended January 1.

    By Manu Milan
  • uploads///U
    Macroeconomic Analysis

    Propane Inventories and Production Moved in Opposite Directions

    As of the week ended December 11, propane inventories were at 98.9 MMbbls. These levels were 26.2% more than they were in the corresponding period last year.

    By Manu Milan
  • uploads///U
    Macroeconomic Analysis

    Propane Prices Rose a Bit despite Strong Inventory Builds

    US residential propane prices averaged $1.98 per gallon for the week ended December 14, or $0.02 per gallon higher than the prices on December 7, 2015.

    By Manu Milan
  • uploads///Weekly AMLP yr treasury yield spread
    Macroeconomic Analysis

    10-Year Treasury and MLP Yields Diverged Last Week

    The Alerian MLP ETF (AMLP) traded at a yield of 8.3% at the end of the week ending August 21. The yield rose during the week from 8.00% at the end of the previous week.

    By Rekha Khandelwal, CFA
  • uploads///YMLP returns
    Macroeconomic Analysis

    YMLP Outperformed Broad-Market ETF SPY in Week Ended August 14

    The Yorkville High Income MLP ETF (YMLP) rose 3.7% in the week ended August 14. YMLP tracks the Solactive High Income MLP Index, also called the YMLP index.

    By Rekha Khandelwal, CFA
  • uploads///Losers
    Macroeconomic Analysis

    June 22’s MLP Losers: Williams Partners and Energy Transfer Equity

    Williams Partners shares tanked by 7.6% yesterday, apparently due to the rejection of Energy Transfer Equity’s $53.1 billion merger proposal to acquire Williams Companies.

    By Kurt Gallon
  • uploads///NGL Pipelines Services Volumetric Data
    Company & Industry Overviews

    EPD’s Most Profitable Segment: NGL Pipelines & Services

    EPD’s Natural Gas Liquid Pipelines & Services segment involves natural gas processing plants and NGL marketing activities.

    By Victor Cheng
  • uploads///propane stock
    Macroeconomic Analysis

    Key update on propane inventories – prices are lower and steadier

    In the week ending February 13, US propane inventories decreased by 3.5 MMbbls to 61.5 MMbbls. They were ~130% than the same period last year.

    By Keisha Bandz
  • Energy & Utilities

    Why AmeriGas beat estimates but maintained guidance in 1Q14

    APU reported 1Q14 adjusted EBITDA for the three months ended December 31, 2013, as $230 million, compared to consensus EBITDA of $202 million and compared to $193 million for the same period last year.

    By Keisha Bandz
  • Energy & Utilities

    Why Martin Midstream Partners’ sulfur business drives its stock

    MMLP markets molten sulfur using its highly specialized distribution assets to phosphate fertilizer producers and other industrial customers.

    By Alex Chamberlin
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