I'm wondering how the distribution coincides with the offering. Perhaps they will announce once they close the offering.
NGLS up today as is the price of oil. I know NG has nothing to do with the price of oil but it appears someone thinks so.
It was rumored to be in the low $80's and if that was the case they most definitely should have accepted the offer. I'm skeptical there was a real offer placed on the table. If it was the Board had an obligation to reveal the offer and consider it for their shareholders. Otherwise lawsuits would have followed.
Have you looked at the stock price??? Buyout would have been in the $70's (maybe higher) and now $42. Not great in my book.
Brilliant! You tell em.
would be wise during this chaos and will not help the stock price to raise distribution as market wants stability right now
Why does everyone think they should have taken the buyout? NGLS has done great over the past few years and it is a very well run company. BBEP bought out QRE and look at that stock now. Obviously Targa knows what they have and what they are worth. I think it is great that they did not sell out!!
Management and the Board should be fired for rejecting the buyout and making at the worst possible time an acquisition of an oil producer.
Yes this continued price decline of a solid and growing NG processor is surprising. Maybe the fear is that the plants in the Bakken and Canada will shut down completely? This is un-warranted and very unlikely since NG demand is not going anywhere but up. IMO, this is a great time to buy when others are selling.
Sentiment: Strong Buy
This does suck…few months ago thought about switching all my NGLS for CLW when both will trading at about the same level…D'oh bad mistake not making that move.
This is ridiculous...this stock has nothing to do with the price of oil...why is this making a new 52 week low? Just dum S**ts selling who have idea whats going on
NGLS has lost 35% to other MLP's since rejecting buyout. Management owns only .39% and are not buying at these levels.
I agree. They might get a buyout from Kidder. Also it seems that none of the officers has sold their shares when shares are granted to them. So maybe they are holding out for recovery or a buyout.
Maybe they turned down another buyout offer. NGLS/TRGP getting smoked a lot more than others last few days…down 20% in a week after already being down 30%. If KMI is at all interested they need to sell out.
As producers shift focus to sweet spots in Permian Basin, Eagle Ford, (etc) they should need more gas processing capacity, not less. RBN example of NGLS and APL
Look for gathers, processors, transporters, etc who have a preponderance of acreage commitments to the sweet spot producers rather than the fringe producers for the near term would be my observation.
They can have my shares for 50 bucks. KMI is new low cost of capital modal. Days of growth with 9% drop downs are over.