By Marc Lichtenfeld Today, Investment U’s Income Expert, Marc Lichtenfeld, takes a look at NGL Energy Partners’ dividend safety.
It’s been a tough go lately for stocks in the energy sector.
Energy stocks in the S&P 500 have been sliced in half this year. Others, like NGL Energy Partners (NYSE: NGL), have fared even worse. It’s down 64% year to date.
Tulsa, Oklahoma-based NGL is a master limited partnership (MLP) that transports oil and natural gas liquids through its pipelines.
Earlier this year, it slashed its quarterly distribution (MLPs pay distributions, not dividends) from $0.39 to $0.20 per unit (partnerships have units, not shares). But because the …read more
