◂ Portfolio Summary
NGLNGL Energy Partners LP
Energy — Midstream / Water Solutions (MLP)
Overall Risk
59/100
MODERATE
◀ HIGH RISKMODERATELOW RISK ▶
Page 1 / 2 — Snapshot, Valuation, Financial Health & Growth
Last Close
$16.42
Day
-1.38%
Market Cap
$2.2B
P/E
9.5x
Rev Growth
-3%
Div Yield
0% (susp.)
Next Dividend Ex-Date
Suspended
12-Month Price
Monthly closes, Nov 2025 → October 30, 2026. 52-week range $9.83 – $18.97.
$9.83$14.40$18.97 $16.42Nov'25May'26Oct'26
Valuation · Financial Health · Growth
Valuation
~6x EV/EBITDA, below midstream peersCommon distribution still suspended
Financial Health
Leverage elevated (~4x) but fallingDeleveraging via asset sales
Growth
Water Solutions segment compoundingCrude/liquids logistics flattish
Sector median comparison
EV/EBITDA
~6x
sector median 9x
Leverage
~4.0x
sector median 3.5x
Distribution
0%
sector median 6.5%
Risk Score Breakdown
Weighted: Valuation 35% · Financial Health 35% · Growth 30% (higher = more risk)
Valuation (35%)55
Financial Health (35%)72
Growth (30%)48
Composite Risk59
Page 2 / 2 — Trend, Earnings, Catalysts vs Risks & Verdict
Quarterly Trend
Rows shaded green = improving QoQ, red = declining. Figures directional; see notes.
QuarterRevenueYoYEPS / KeyTrend
Q4'251,450—0.10▬ steady
Q1'261,520+5%0.18▲ improving
Q2'261,410-7%0.12▼ declining
Q3'26e1,480+5%0.15▲ improving
Latest Earnings / Delivery Highlights
Water Solutions EBITDA
Record
Produced-water volumes up YoY
Leverage
Declining
Asset sales reducing debt
Distribution
Suspended
Prioritizing debt & preferred
Catalysts vs Risks

▲ Catalysts

Return of common distribution once deleveragedHIGH IMPACT
Permian produced-water volume growthHIGH IMPACT
Refinancing / rating upgrade pathMEDIUM IMPACT

▼ Risks

High absolute leverageHIGH
Preferred arrears overhangMEDIUM
Commodity & volume sensitivityMEDIUM
Bottom Line
◀ SELLHOLDBUY ▶
HOLD / Accumulate · Buy/Sell 60/100
A deleveraging midstream MLP up ~67% over twelve months on Water Solutions strength. The balance sheet is the overhang, but the trajectory is improving and the common distribution could return. Accumulate on weakness; not yet an income name.
Generated October 31, 2026. Prices: last close October 30, 2026. Live quotes via AlphaVantage (CURI, NGL, BSBR) and public market data (others); ADA is a 24/7 crypto price. Risk score = 0.35×Valuation + 0.35×Financial Health + 0.30×Growth (0=low risk, 100=high). Quarterly and some fundamental figures are directional/approximate. Informational only — not investment advice.