NGL Energy Partners' Class B Preferred Shares Cross 11.5% Yield Mark

NGL Energy Partners LP's 9.00% Class B fixed-to-floating cumulative preferred (NGL.PRB) was yielding above 11.5% based on a quarterly dividend annualized to $2.8648. Shares traded as low as $24.82 on the day, a price that drives the elevated yield and likely reflects market pricing of credit/risk rather than new company-specific announcements.

Analysis

NGL Energy Partners LP's 9.00% Class B fixed-to-floating cumulative preferred (NGL.PRB) was yielding above 11.5% based on a quarterly dividend annualized to $2.8648. Shares traded as low as $24.82 on the day, a price that drives the elevated yield and likely reflects market pricing of credit/risk rather than new company-specific announcements.