This is a follow up to a previous article I wrote back in June on NGL Energy Partners (NYSE:NGL). Back when I recommended to go long NGL, the stock was at $29.97. Now it's at $35.54, about an 18% gain in around 6 months. The business has been showing great execution of their growth strategy, but the numbers are less than impressive.
A Quick Overview
For those who are unfamiliar with the company, NGL is a propane and natural gas business that operates in the United States. Operations are divided into four segments: Crude Oil Logistics, Water Services, Natural Gas Liquids Logistics, and Retail Propane. The company, founded in 1940, is headquartered in Tulsa, Oklahoma.
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