Feb. 19 at 6:35 PM
$NGL Where will NGL Energy Partners be after the Series D is taken care of (which is management's #1 focus now). Keep in mind that NGL is currently rated at 7x EBITDA multiple based on TTM of
$643 (this is under this year's guidance and much lower than FY2027 guidance of
$700M+). Once the overhang of the series D preferreds is gone, NGL will be re-rated to 8x-10x EBITDA like ARIS and WaterBridge.
7x
$12 (Today)
after D's taken care of:
7x
$19-20
8x
$24-25
9x
$29-30
10x
$34-35
Now you know why insiders and buying, management has been buying back units, all those warrants were taken out, and why redeeming those series D is so important. Once the Ds are gone, NGL get's re-rated at higher multiple. Those above numbers do not reflect increase in EBITDA either.
This will be a fantastic year for NGL Energy Partners. In Mike Krimbill's words we are now in that "Final Leg" and "Stay Tuned".
