|Bid||3.4900 x 3100|
|Ask||3.5800 x 900|
|Day's Range||3.4400 - 3.6100|
|52 Week Range||1.1500 - 14.2200|
|Beta (5Y Monthly)||2.97|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.80 (21.51%)|
|Ex-Dividend Date||Aug 05, 2020|
|1y Target Est||N/A|
Moody's Investors Service ("Moody's") downgraded NGL Energy Partners LP's (NGLEP) senior unsecured notes to B3 from B2 and changed the company's rating outlook to negative from stable. Moody's concurrently affirmed NGLEP's B1 Corporate Family Rating (CFR) and B1-PD Probability of Default Rating (PDR). "The company will face elevated counterparty risks, increased uncertainty around crude and water volumes and high financial leverage through 2021", said Sajjad Alam, Moody's Senior Analyst.
As a reminder, this conference call includes forward-looking statements and information. Words such as anticipate, project, expect, plan, goal, forecast, intend, could, believe, may, and similar expressions and statements are intended to identify forward-looking statements. While NGL Energy Partners believes that its expectations are based on reasonable assumptions, there can be no assurance that such expectations will prove to be correct.
The midstream energy player tried to highlight the positives, but investors weren't buying it when the market opened.