NGL
Market read
No new filing conclusion is available. 0 of 8 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 2 directly disclosed connections are confirming.
Invalidation: The isolated read changes if NGL's group or a disclosed connection begins moving with it.
Research brief
No new filing conclusion is available. 0 of 8 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 2 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
Company research
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
No qualifying supportive evidence was identified.
No credible peer-relative valuation comparison is available yet.
Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
“Due to the nature of these positions, the cash flow and earnings recognized on a GAAP basis differed from period to period depending on the current crude oil price and future estimated crude oil price which were valued utilizing third-party market quoted pric…”10-K · May 28, 2026 ↗
“We define EBITDA as net income (loss) attributable to NGL Energy Partners LP, plus interest expense, income tax expense (benefit), and depreciation and amortization expense.”10-Q · Feb 3, 2026 ↗
“The increase was due primarily to higher recycled water volumes related to timing of water to be used in completions, partially offset by lower pricing for recycled water.”10-Q · Feb 3, 2026 ↗
“Due to lower than expected operating results, it was decided that the goodwill within the Wholesale/Terminal reporting unit should be tested for impairment as of January 1, 2024.”10-K · May 28, 2026 ↗
Valuation discipline
Price/sales — · EV/sales —. Comparisons use only industry-matched filing peers.
No usable price/earnings or price/sales multiple (need a fresh price).
Price action
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:50 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
Jodie has not returned a relevant primary source or news item for NGL. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
Jodie has not yet found a suitable current-versus-prior filing comparison for NGL. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
“The terminal features advantaged connectivity to other terminals and pipelines including important connections to the Grand Mesa Pipeline and to TC Energy’s terminal with access to the United States Gulf Coast via Marketlink.”
“The Chesapeake facility is a marine export/import terminal situated upstream of Norfolk, Virginia on the Elizabeth River.”
Filing peers
Companies whose filings use similar operating language.
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What is moving around it
NGL is currently a Follower in the organic co-movement group Oil & Gas Services. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for NGL; it is not active in the latest market snapshot.
Context history
No durable theme membership has been observed for this name yet.