NGL Energy Partners LP Board Authorizes $100 Mln LP Common Unit Repurchase Program

The general partner board of NGL Energy Partners authorized a common unit repurchase program to buy up to $100 million of outstanding limited partnership units. The program signals management support for the units and could be accretive to remaining unitholders, though the announcement provided no details on timing, duration, or funding. This is likely to be modestly supportive of the stock/unit price and per-unit metrics.

Analysis

The general partner board of NGL Energy Partners authorized a common unit repurchase program to buy up to $100 million of outstanding limited partnership units. The program signals management support for the units and could be accretive to remaining unitholders, though the announcement provided no details on timing, duration, or funding. This is likely to be modestly supportive of the stock/unit price and per-unit metrics.