NGL NGL ENERGY PARTNERS LP Common Units representing Limited Partner Interests
$17.18
Price · Aug 19, 2026
Fundamentals as of Aug 4, 2026
52W Range
$5–$19
88% of range
Analyst Rating
BUY
6 analysts
Price Target
—
P/E (TTM)
—
ROE
—
Net Profit Margin
-4.5%
NGL Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$17.18
Market Cap
—
P/E (TTM)
—
EPS (TTM)
—
Revenue (TTM)
$3.16B
Div Yield
—
ROE
—
Debt/Equity
—
52W Range
$5 – $19
NGL Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$3.16B
2021-03-31
→
2026-03-31
EPS
—
Free Cash Flow
$145M
2021-03-31
→
2026-03-31
Margins
-4.5%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
NGL
Peer Median
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
NGL
Peer Median
Operating Margin
3.0%
—
Net Profit Margin
-4.5%
11.6%
ROA
-3.2%
4.1%
ROIC
2.9%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
NGL
Peer Median
Current Ratio
1.0
1.0
Quick Ratio
0.0
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
NGL
Peer Median
Revenue YoY
-9.0%
—
Revenue CAGR 3Y
-17.8%
—
Revenue CAGR 5Y
-9.6%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
NGL
Peer Median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
—
Payout Ratio
—
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| Nov. 5, 2020 | $0.1000 |
| Aug. 5, 2020 | $0.2000 |
| May 6, 2020 | $0.2000 |
| Feb. 6, 2020 | $0.3900 |
| Nov. 6, 2019 | $0.3900 |
| Aug. 6, 2019 | $0.3900 |
| May 6, 2019 | $0.3900 |
| Feb. 5, 2019 | $0.3900 |
| Nov. 7, 2018 | $0.3900 |
| Aug. 7, 2018 | $0.3900 |
| May 4, 2018 | $0.3900 |
| Feb. 5, 2018 | $0.3900 |
| Nov. 3, 2017 | $0.3900 |
| Aug. 2, 2017 | $0.3900 |
| May 4, 2017 | $0.3900 |
| Feb. 1, 2017 | $0.3900 |
| Nov. 2, 2016 | $0.3900 |
| Aug. 2, 2016 | $0.3900 |
| April 29, 2016 | $0.3900 |
| Feb. 1, 2016 | $0.6400 |
NGL Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
6 analysts
- Strong Buy 1 16.7%
- Buy 3 50.0%
- Hold 2 33.3%
- Sell 0 0.0%
- Strong Sell 0 0.0%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.05%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| Dec. 31, 2026 | $0.15 | $0.18 | — |
| June 30, 2026 | $0.48 | $0.11 | 0.37% |
| March 31, 2026 | $0.15 | $0.18 | -0.03% |
| Dec. 31, 2025 | $0.10 | $0.16 | -0.06% |
| Sept. 30, 2025 | $0.02 | $0.00 | 0.02% |
| June 30, 2025 | $0.04 | $-0.06 | 0.10% |
| March 31, 2025 | $-0.12 | $0.01 | -0.13% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| NGL | — | — | -9.0% | -4.5% | — | — |
| PAGP | — | 38.3 | -9.5% | 0.59% | — | — |
| INSW | $2.40B | 7.8 | -11.4% | 36.7% | 15.8% | — |
| EE | — | 21.9 | 44.3% | — | — | — |
| DKL | — | — | 7.7% | 17.4% | — | — |
| LPG | $1.46B | 7.5 | 36.3% | 40.2% | 17.6% | — |
| GEL | — | -3.7 | -1.8% | -27.0% | — | — |
| NEXT | — | -4.5 | — | — | -181.7% | — |
| GLP | — | — | 8.1% | 0.53% | — | 5.7% |
| CAPL | — | 20.2 | -10.6% | 1.1% | — | 11.0% |
| SMC | $327M | -16.6 | 30.8% | -1.1% | -1.2% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 10
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.16B | $3.47B | $4.15B | $5.68B | $7.95B | $5.23B | $7.58B | $8.69B | $6.95B | $12.71B | $11.74B | $16.80B | |
| Cost of Revenue | $2.18B | $2.51B | $3.19B | $4.69B | $7.14B | $4.49B | $6.60B | $7.98B | $6.26B | $12.23B | $10.84B | $15.96B | |
| SG&A Expense | $70M | $56M | $122M | $71M | $64M | $70M | $114M | $107M | $98M | $106M | $140M | $149M | |
| Operating Income | $95M | $329M | $162M | $244M | $83M | $-391M | $-3M | $127M | $187M | $206M | $-105M | $107M | |
| Interest Expense | $257M | $280M | $270M | $275M | $272M | $199M | $181M | $165M | $199M | $150M | $133M | $110M | |
| Other Non-op | $526.0K | $4M | $3M | $30M | $2M | $-37M | $2M | $-30M | $6M | $27M | $6M | $37M | |
| Pretax Income | $-179M | $60M | $-156M | $9M | $-183M | $-641M | $-180M | $-78M | $-21M | $97M | $-187M | $47M | |
| Income Tax | $-276.0K | $-5M | $1M | $219.0K | $971.0K | $-3M | $345.0K | $1M | $1M | $2M | $-367.0K | $-4M | |
| Net Income | $-142M | $39M | $-144M | $51M | $-185M | $-640M | $-397M | $360M | $-71M | $137M | $-199M | $37M | |
| EBITDA | $363M | $597M | $460M | $580M | $389M | $-60M | $274M | $370M | $408M | $493M | $145M | $298M |
Balance Sheet 22
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $9M | $6M | $39M | $5M | $4M | $5M | $23M | $19M | $22M | $8M | $25M | $41M | |
| Short-term Investments | · | $8M | · | · | · | · | · | · | · | · | · | · | |
| Receivables | · | · | · | $1.03B | $1.12B | $726M | $567M | $998M | $1.03B | $801M | $521M | $1.03B | |
| Inventory | $67M | $70M | $107M | $143M | $251M | $158M | $70M | $136M | $551M | $561M | $368M | $442M | |
| Prepaid Expense | $37M | $64M | $71M | $98M | $159M | $109M | $102M | $66M | $129M | $103M | $96M | $121M | |
| Current Assets | $774M | $962M | $1.18B | $1.29B | $1.55B | $1.01B | $774M | $1.81B | $2.25B | $1.48B | $1.03B | $1.65B | |
| PP&E (Net) | $2.09B | $2.07B | $2.10B | $2.22B | $2.46B | $2.71B | $2.85B | $1.83B | $1.52B | $1.79B | $1.65B | $1.62B | |
| PP&E (Gross) | $3.36B | $3.17B | $3.11B | $3.12B | $3.35B | $3.48B | $3.38B | $2.25B | $1.86B | $2.17B | $1.92B | $1.83B | |
| Accum. Depreciation | $1.27B | $1.10B | $1.01B | $898M | $887M | $776M | $529M | $417M | $343M | $376M | $266M | $203M | |
| Goodwill | $352M | $599M | $617M | $712M | $744M | $744M | $994M | $1.11B | $1.17B | $1.32B | $1.32B | $1.56B | |
| Intangibles | $805M | $851M | $933M | $1.06B | $1.14B | $1.26B | $1.61B | $801M | $913M | $1.16B | $1.15B | $1.23B | |
| Other Non-current Assets | $40M | $20M | $52M | $58M | $46M | $51M | $63M | $114M | $245M | $240M | $176M | $113M | |
| Total Assets | $4.18B | $4.61B | $5.02B | $5.46B | $6.07B | $5.95B | $6.50B | $5.90B | $6.15B | $6.32B | $5.56B | $6.66B | |
| Accounts Payable | · | · | · | $928M | $1.08B | $680M | $515M | $879M | $853M | $658M | $420M | $833M | |
| Accrued Liabilities | $184M | $135M | $173M | $134M | $141M | · | · | · | · | · | · | · | |
| Current Liabilities | $739M | $739M | $977M | $1.11B | $1.28B | $911M | $846M | $1.25B | $1.13B | $939M | $706M | $1.12B | |
| Capital Leases | $82M | $85M | $71M | $58M | $73M | $104M | $121M | $0 | · | · | · | · | |
| Other Non-current Liabilities | $137M | $126M | $129M | $111M | $104M | $115M | $114M | $64M | $174M | $185M | $247M | $115M | |
| Long-term Debt | $3.23B | $2.97B | $2.85B | $2.86B | $3.35B | $3.38B | $3.17B | $2.17B | $2.71B | $3.03B | $2.94B | $2.75B | |
| Total Debt | $3.23B | $2.97B | $2.85B | $2.86B | $2M | · | · | · | · | · | · | · | |
| AOCI | $0 | $9.0K | $-499.0K | $-450.0K | $-308.0K | $-266.0K | $-385.0K | $-255.0K | $-2M | $-2M | $-157.0K | $-109.0K | |
| Liabilities + Equity | $4.18B | $4.61B | $5.02B | $5.46B | $6.07B | $5.95B | $6.50B | $5.90B | $6.15B | $6.32B | $5.56B | $6.66B |
Cash Flow 15
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $269M | $267M | $282M | $290M | $306M | $331M | $277M | $222M | $220M | $195M | $249M | $210M | |
| Stock-based Comp | $11M | $0 | $1M | $3M | $-1M | $7M | $27M | $41M | $35M | $53M | $52M | $33M | |
| Deferred Tax | $-1M | $-7M | $-1M | $2M | $1M | $5M | $3M | · | · | · | · | · | |
| Amort. of Intangibles | $61M | $61M | $73M | $82M | $90M | $133M | $139M | $116M | $114M | $101M | $108M | $102M | |
| Other Non-cash | $230M | $-16M | $235M | $98M | $84M | $601M | $555M | $-292M | $-96M | $-455M | $238M | · | |
| Operating Cash Flow | $366M | $297M | $376M | $445M | $206M | $304M | $464M | $337M | $138M | $-25M | $351M | $262M | |
| CapEx | $221M | $246M | $152M | $148M | $142M | $187M | $556M | $456M | $134M | $345M | $662M | $228M | |
| Investing Cash Flow | $-16M | $-123M | $-84M | $64M | $-212M | $-221M | $-1.44B | $453M | $271M | $-363M | · | · | |
| Stock Repurchased | $48M | $2M | $84.0K | $99.0K | · | · | · | · | · | · | · | · | |
| Net Stock Activity | $-48M | $-2M | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-347M | $-208M | $-259M | $-508M | $6M | $-100M | $979M | $-794M | $-394M | $371M | · | · | |
| Net Change in Cash | $3M | $-33M | $33M | $2M | $-1M | $-18M | $4M | $-4M | · | · | · | · | |
| Taxes Paid | $3M | $6M | $3M | $3M | $2M | $3M | $5M | $2M | $2M | $2M | $2M | $23M | |
| Free Cash Flow | $145M | $52M | $224M | $297M | $63M | $117M | $-92M | $-118M | $-19M | $-391M | $-440M | $-707M | |
| Levered FCF | $-112M | $-251M | · | $23M | $-210M | $-81M | $-273M | $-286M | $-222M | $-539M | $-572M | $-833M |
Profitability 6
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 3.0% | 9.5% | 2.5% | 3.3% | 1.0% | -7.5% | -0.04% | 0.59% | 0.80% | 2.0% | -0.89% | 0.52% | |
| Net Margin | -4.5% | 1.1% | -2.1% | 0.59% | -2.3% | -12.2% | -5.2% | 1.5% | -0.41% | 1.1% | -1.6% | · | |
| Pretax Margin | -5.7% | 1.7% | · | 0.61% | -2.3% | -12.3% | -2.4% | -0.26% | -0.39% | 1.1% | -1.6% | 0.16% | |
| EBITDA Margin | 11.5% | 17.2% | 6.6% | 6.7% | 4.9% | -1.1% | 3.6% | 1.5% | 2.4% | 3.8% | 1.2% | 1.8% | |
| ROA | -3.2% | 0.83% | -2.7% | 0.89% | -3.1% | -10.3% | -6.4% | 6.0% | -1.1% | 2.2% | -3.0% | · | |
| ROIC | 2.9% | 12.0% | · | 10.1% | 3510.6% | · | · | · | · | · | · | · |
Liquidity & Solvency 3
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 1.3 | 1.2 | 1.2 | 1.2 | 1.1 | 0.9 | 1.4 | 1.6 | 1.6 | 1.5 | 1.5 | |
| Quick Ratio | 0.0 | 0.0 | 0.0 | 0.9 | 0.9 | 0.8 | 0.7 | 0.9 | 1.0 | 0.9 | 0.8 | 1.0 | |
| Interest Coverage | 0.4 | 1.2 | 0.7 | 1.0 | 0.3 | -2.0 | -0.0 | 0.9 | 0.7 | 1.7 | -0.8 | 0.8 |
Efficiency 3
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.7 | 0.7 | 1.3 | 1.5 | 1.3 | 0.8 | 1.2 | 4.0 | 2.8 | 2.1 | 1.9 | 2.5 | |
| Inventory Turnover | 31.8 | 28.4 | 43.6 | 38.8 | 34.8 | 39.4 | 64.2 | 45.9 | 29.4 | 22.8 | 27.7 | 32.6 | |
| Receivables Turnover | · | · | · | 8.1 | 8.6 | 8.1 | 9.7 | 21.9 | 18.5 | 18.7 | 21.3 | 12.5 |
Growth Rates 3
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -9.0% | -16.5% | -26.9% | -28.5% | 52.0% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -17.8% | -24.1% | -7.4% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | -9.6% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 2
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $3.16B | $3.47B | $4.15B | $5.68B | $7.95B | $5.23B | $7.58B | $8.69B | $6.95B | $12.71B | $11.74B | $16.80B | |
| Net Income TTM | $-142M | $39M | $-144M | $51M | $-185M | $-640M | $-397M | $360M | $-71M | $137M | $-199M | $37M |
Income Statement 10
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $990M | $950M | $910M | $675M | $622M | $971M | $982M | $756M | $759M | $-1.17B | $1.20B | $1.01B | $911M | $-967M | $2.14B | $2.01B | |
| Cost of Revenue | $684M | $732M | $646M | $421M | $383M | $709M | $735M | $523M | $539M | $-1.38B | $933M | $752M | $688M | $-1.19B | $1.86B | $1.76B | |
| SG&A Expense | $18M | $26M | $16M | $15M | $14M | $13M | $15M | $12M | $15M | $66M | $18M | $17M | $20M | $21M | $17M | $17M | |
| Operating Income | $145M | $-207M | $110M | $94M | $97M | $81M | $85M | $81M | $82M | $-98M | $102M | $86M | $72M | $-15M | $103M | $69M | |
| Interest Expense | $67M | $63M | $64M | $65M | $66M | $70M | $63M | $77M | $70M | $94M | $57M | $59M | $60M | $64M | $76M | $68M | |
| Other Non-op | $1M | $574.0K | $3M | $208.0K | $-4M | $2M | $486.0K | $2M | $164.0K | $2M | $515.0K | $310.0K | $306.0K | $2M | $28M | $-15.0K | |
| Pretax Income | $80M | $-287M | $48M | $30M | $30M | $16M | $23M | $8M | $13M | · | · | · | · | · | · | · | |
| Income Tax | $-299.0K | $86.0K | $-119.0K | $-61.0K | $-182.0K | $14.0K | $-274.0K | $174.0K | $-5M | $822.0K | $154.0K | $342.0K | $140.0K | $106.0K | $-252.0K | $537.0K | |
| Net Income | $79M | $-288M | $47M | $29M | $69M | $14M | $14M | $2M | $10M | $-237M | $46M | $28M | $19M | $-34M | $59M | $4M | |
| EBITDA | $212M | · | $110M | $94M | $167M | · | $145M | $143M | $140M | · | $172M | $156M | $145M | · | $176M | $141M |
Balance Sheet 22
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $5M | $9M | $6M | $9M | $5M | $6M | $6M | $4M | $5M | $39M | · | · | · | · | $5M | $5M | |
| Short-term Investments | · | · | · | · | · | $8M | · | · | · | · | · | · | · | · | · | · | |
| Receivables | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $1.13B | $1.13B | |
| Inventory | $68M | $67M | $79M | $118M | $81M | $70M | $134M | $194M | $159M | $107M | $202M | $251M | $186M | · | $238M | $345M | |
| Prepaid Expense | $26M | $37M | $38M | $32M | $28M | $64M | $86M | $76M | $72M | $71M | $123M | $138M | $84M | · | $136M | $153M | |
| Current Assets | $738M | $774M | $721M | $718M | $586M | $962M | $1.02B | $1.00B | $990M | $1.18B | $1.34B | $1.56B | $1.18B | · | $1.52B | $1.64B | |
| PP&E (Net) | $2.15B | $2.09B | $2.10B | $2.03B | $2.04B | $2.07B | $2.14B | $2.17B | $2.13B | $2.10B | $2.14B | $2.17B | $2.20B | · | $2.40B | $2.45B | |
| PP&E (Gross) | $3.46B | $3.36B | $3.33B | $3.22B | $3.18B | $3.17B | $3.27B | $3.26B | $3.17B | $3.11B | $3.08B | $3.07B | $3.12B | · | $3.40B | $3.41B | |
| Accum. Depreciation | $1.31B | $1.27B | $1.23B | $1.19B | $1.14B | $1.10B | $1.13B | $1.10B | $1.05B | $1.01B | $945M | $909M | $921M | · | $1.00B | $959M | |
| Goodwill | $352M | $352M | $599M | $599M | $599M | $599M | $634M | $634M | $634M | $617M | $708M | $708M | $712M | $712M | $744M | $744M | |
| Intangibles | $794M | $805M | $820M | $825M | $839M | $851M | $905M | $916M | $929M | $933M | $1000M | $1.02B | $1.04B | · | $1.08B | $1.10B | |
| Other Non-current Assets | $31M | $40M | $20M | $15M | $16M | $20M | $24M | $53M | $50M | $52M | $56M | $58M | $57M | · | $64M | $65M | |
| Total Assets | $4.18B | $4.18B | $4.38B | $4.30B | $4.19B | $4.61B | $4.85B | $4.89B | $4.84B | $5.02B | $5.36B | $5.63B | $5.31B | $5.46B | $5.91B | $6.11B | |
| Accounts Payable | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $953M | $994M | |
| Accrued Liabilities | $128M | $184M | $139M | $127M | $106M | $135M | $138M | $174M | $176M | $173M | $195M | $164M | $159M | · | $174M | $151M | |
| Current Liabilities | $645M | $739M | $647M | $570M | $469M | $739M | $846M | $829M | $865M | $977M | $1.09B | $1.31B | $987M | · | $1.48B | $1.21B | |
| Capital Leases | $81M | $82M | $89M | $85M | $88M | $85M | $87M | $74M | $67M | $71M | $71M | $64M | $65M | · | $54M | $62M | |
| Other Non-current Liabilities | $136M | $137M | $133M | $131M | $131M | $126M | $122M | $129M | $124M | $129M | $108M | $108M | $112M | · | $103M | $104M | |
| Long-term Debt | $3.28B | $3.23B | $2.93B | $2.91B | $2.88B | $2.97B | $3.09B | $3.13B | $3.03B | $2.85B | $2.68B | $2.78B | $2.80B | · | $3.26B | $3.49B | |
| Total Debt | $3.28B | · | $2.93B | $2.91B | $2.88B | · | $3.09B | $3.13B | $3.03B | · | · | · | · | · | $304M | $2M | |
| AOCI | · | $0 | $0 | $0 | $0 | $9.0K | $10.0K | $-99.0K | $-523.0K | $-499.0K | $-457.0K | $-473.0K | $-434.0K | · | $-439.0K | $-440.0K | |
| Liabilities + Equity | $4.18B | $4.18B | $4.38B | $4.30B | $4.19B | $4.61B | $4.85B | $4.89B | $4.84B | $5.02B | $5.36B | $5.63B | $5.31B | · | $5.91B | $6.11B |
Cash Flow 15
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $67M | $66M | $66M | $67M | $70M | $68M | $70M | $65M | $65M | $69M | $70M | $70M | $73M | $73M | $74M | $72M | |
| Stock-based Comp | $2M | · | · | · | $0 | $0 | $0 | $0 | $0 | $0 | $214.0K | $410.0K | $474.0K | $852.0K | $890.0K | $479.0K | |
| Deferred Tax | $-344.0K | $-3M | $400.0K | $200.0K | $-528.0K | $-14M | $500.0K | $400.0K | $6M | $-2M | $400.0K | $0 | $100.0K | · | $800.0K | $100.0K | |
| Amort. of Intangibles | $16M | $16M | $16M | $15M | $14M | $15M | $15M | $15M | $15M | $16M | $18M | $18M | $21M | $20M | $21M | $21M | |
| Other Non-cash | $-70M | · | · | · | $-106M | · | · | · | $-99M | · | · | · | $-38M | · | · | · | |
| Operating Cash Flow | $77M | $110M | $182M | $40M | $33M | $155M | $154M | $7M | $-18M | $152M | $93M | $76M | $55M | $238M | $239M | $-34M | |
| CapEx | $109M | $32M | $137M | $31M | $22M | $38M | $2M | $90M | $2M | $32M | $39M | $45M | $36M | $25M | $28M | $53M | |
| Investing Cash Flow | $-96M | $-64M | $-132M | $-19M | $199M | $-6M | $-67M | $-78M | $28M | $-34M | $7M | $-55M | $-1M | $136M | $-12M | $-24M | |
| Stock Repurchased | $0 | $3M | $16M | $21M | $8M | $0 | $0 | $2M | $0 | $0 | · | · | · | · | · | · | |
| Net Stock Activity | $0 | · | · | · | $-8M | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $15M | $-44M | $-52M | $-18M | $-233M | $-149M | $-85M | $70M | $-44M | $-80M | $-102M | $-26M | $-51M | $-374M | $-227M | $62M | |
| Net Change in Cash | $-3M | $2M | $-2M | $3M | $-208.0K | $-34.0K | $1M | $-774.0K | $-34M | $38M | $-2M | $-5M | $2M | $897.0K | $-6.0K | $4M | |
| Taxes Paid | $759.0K | $518.0K | $497.0K | $734.0K | $2M | $141.0K | $505.0K | $4M | $2M | $270.0K | $887.0K | $704.0K | $1M | $267.0K | $918.0K | $422.0K | |
| Free Cash Flow | $-32M | · | · | · | $11M | · | · | · | $-78M | · | · | · | $19M | · | · | · | |
| Levered FCF | $-99M | · | · | · | $-55M | · | · | · | · | · | · | · | · | · | · | · |
Profitability 6
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 14.7% | · | 12.0% | 14.0% | 15.7% | · | 4.9% | 5.8% | 5.4% | · | 5.4% | 4.7% | 4.5% | · | 4.8% | 3.4% | |
| Net Margin | 8.0% | · | 5.2% | 4.3% | 11.1% | · | 0.87% | 0.18% | 0.70% | · | 2.4% | 1.5% | 1.2% | · | 2.7% | 0.17% | |
| Pretax Margin | 8.1% | · | 5.3% | 4.4% | 4.8% | · | · | · | · | · | · | · | · | · | · | · | |
| EBITDA Margin | 21.4% | · | 12.0% | 14.0% | 26.9% | · | 9.4% | 10.5% | 10.1% | · | 9.2% | 8.5% | 9.0% | · | 8.2% | 7.0% | |
| ROA | 1.9% | · | 1.0% | 0.64% | 1.5% | · | 0.26% | 0.05% | 0.19% | · | 0.81% | 0.48% | 0.33% | · | 0.97% | 0.06% | |
| ROIC | 4.5% | · | 3.8% | 3.2% | 3.4% | · | · | · | · | · | · | · | · | · | · | · |
Liquidity & Solvency 3
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.1 | · | 1.1 | 1.3 | 1.2 | · | 1.2 | 1.2 | 1.1 | · | 1.2 | 1.2 | 1.2 | · | 1.0 | 1.4 | |
| Quick Ratio | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | · | · | · | · | 0.8 | 0.9 | |
| Interest Coverage | 2.2 | · | 1.7 | 1.5 | 1.5 | · | 1.2 | 1.0 | 1.1 | · | 1.8 | 1.5 | 1.2 | · | 1.4 | 1.0 |
Efficiency 3
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | · | 0.2 | 0.1 | 0.1 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.4 | 0.3 | |
| Inventory Turnover | 9.2 | · | 6.1 | 2.7 | 3.2 | · | 7.8 | 5.0 | 6.8 | · | 7.3 | 5.3 | 5.7 | · | 6.5 | 5.3 | |
| Receivables Turnover | · | · | · | · | · | · | · | · | · | · | · | · | · | · | 2.0 | 2.0 |
Valuation (TTM) 2
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $3.20B | · | $3.18B | $3.25B | $3.33B | · | $3.54B | $3.75B | $4.00B | · | $5.25B | $6.07B | $7.56B | · | $8.82B | $8.43B | |
| Net Income TTM | $224M | · | $159M | $125M | $99M | · | $-211M | $-179M | $-153M | · | $152M | $109M | $104M | · | $66M | $6M |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2026-03-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | |
|---|---|---|---|---|---|
| Revenue | $3.16B | — | $3.47B | — | — |
| Operating Margin % | 3.0% | — | 9.5% | — | — |
| Net Income | $-142M | — | $39M | — | — |
Balance Sheet
| 2026-03-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | |
|---|---|---|---|---|---|
| Current Ratio | 1.0 | — | 1.3 | — | — |
| Quick Ratio | 0.0 | — | 0.0 | — | — |
Cash Flow
| 2026-03-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | |
|---|---|---|---|---|---|
| Free Cash Flow | $145M | — | $52M | — | — |
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Institutional owners (13F) 102 filers · $984.5M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 6 (-12 vs prior Q) | 13 (+6 vs prior Q) | 18 (-5 vs prior Q) | 33 (+12 vs prior Q) | +21.1M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Invesco Ltd. | $311,624,779 | 19,562,133 | 31.65% | Shares |
| GOLDMAN SACHS GROUP INC | $92,876,663 | 5,830,299 | 9.43% | Shares |
| TPG GP A, LLC | $92,144,250 | 5,784,322 | 9.36% | Shares |
| ING GROEP NV | $86,369,322 | 5,421,803 | 8.77% | Shares |
| CITIGROUP INC | $68,575,735 | 4,304,817 | 6.97% | Shares |
| BANK OF AMERICA CORP /DE/ | $66,329,923 | 4,163,837 | 6.74% | Shares |
| ANGELO GORDON & CO., L.P. | $46,926,960 | 4,692,696 | 4.77% | Shares |
| JPMORGAN CHASE & CO | $44,483,632 | 2,780,227 | 4.52% | Shares |
| NOMURA HOLDINGS INC | $39,837,107 | 2,500,760 | 4.05% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $22,310,411 | 1,400,528 | 2.27% | Shares |
| Prescott Group Capital Management, L.L.C. | $16,418,063 | 1,030,638 | 1.67% | Shares |
| Fractal Investments LLC | $13,261,390 | 832,479 | 1.35% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $9,535,204 | 598,569 | 0.97% | Shares |
| BARCLAYS PLC | $7,322,368 | 459,659 | 0.74% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $7,047,432 | 442,400 | 0.72% | Call option |
| HighTower Advisors, LLC | $4,353,510 | 273,290 | 0.44% | Shares |
| Mariner, LLC | $4,137,704 | 259,743 | 0.42% | Shares |
| Cetera Investment Advisers | $3,986,785 | 250,269 | 0.40% | Shares |
| ALPS ADVISORS INC | $3,947,406 | 247,797 | 0.40% | Shares |
| BROWN ADVISORY INC | $3,584,250 | 225,000 | 0.36% | Shares |
| CITADEL ADVISORS LLC | $3,083,172 | 193,545 | 0.31% | Shares |
| STEPHENS INC /AR/ | $3,026,700 | 190,000 | 0.31% | Shares |
| LPL Financial LLC | $2,994,728 | 187,993 | 0.30% | Shares |
| AlphaCore Capital LLC | $2,848,284 | 178,800 | 0.29% | Shares |
| CITADEL ADVISORS LLC | $2,811,645 | 176,500 | 0.29% | Call option |
| NATIXIS | $2,014,635 | 126,468 | 0.20% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,852,659 | 116,300 | 0.19% | Put option |
| CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT | $1,752,300 | 110,000 | 0.18% | Shares |
| Susquehanna Portfolio Strategies, LLC | $1,733,933 | 108,847 | 0.18% | Shares |
| WHITTIER TRUST CO | $1,417,500 | 94,500 | 0.14% | Shares |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ | $1,201,361 | 75,415 | 0.12% | Shares |
| TORTOISE CAPITAL ADVISORS, L.L.C. | $1,086,968 | 68,234 | 0.11% | Shares |
| Carter Financial Group, INC. | $1,065,540 | 66,889 | 0.11% | Shares |
| FMR LLC | $877,106 | 55,060 | 0.09% | Shares |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | $841,853 | 52,847 | 0.09% | Shares |
| KWMG, LLC | $781,574 | 49,063 | 0.08% | Shares |
| Toroso Investments, LLC | $578,290 | 57,829 | 0.06% | Shares |
| JANE STREET GROUP, LLC | $489,051 | 30,700 | 0.05% | Call option |
| CITADEL ADVISORS LLC | $468,342 | 29,400 | 0.05% | Put option |
| BOKF, NA | $448,206 | 28,136 | 0.05% | Shares |
| GROUP ONE TRADING LLC | $434,172 | 27,255 | 0.04% | Shares |
| D.A. DAVIDSON & CO. | $419,867 | 26,357 | 0.04% | Shares |
| CreativeOne Wealth, LLC | $413,495 | 25,957 | 0.04% | Shares |
| State of Wyoming | $407,983 | 25,611 | 0.04% | Shares |
| VAN ECK ASSOCIATES CORP | $407,266 | 25,566 | 0.04% | Shares |
| FLC Capital Advisors | $363,204 | 22,800 | 0.04% | Shares |
| Cresset Asset Management, LLC | $348,947 | 21,905 | 0.04% | Shares |
| Lido Advisors, LLC | $318,600 | 20,000 | 0.03% | Shares |
| SITTNER & NELSON, LLC | $298,688 | 18,750 | 0.03% | Shares |
| Quartz Partners, LLC | $248,651 | 15,609 | 0.03% | Shares |
| SIMON QUICK ADVISORS, LLC | $246,915 | 15,500 | 0.03% | Shares |
| Sanctuary Advisors, LLC | $246,692 | 15,486 | 0.03% | Shares |
| Jackson Hole Capital Partners, LLC | $246,600 | 20,000 | 0.03% | Shares |
| Canvas Wealth Advisors, LLC | $246,600 | 20,000 | 0.03% | Shares |
| STIFEL FINANCIAL CORP | $241,342 | 15,150 | 0.02% | Shares |
| LexAurum Advisors, LLC | $232,498 | 14,595 | 0.02% | Shares |
| ROYAL BANK OF CANADA | $227,000 | 14,242 | 0.02% | Shares |
| COWA, LLC | $223,020 | 14,000 | 0.02% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $200,288 | 12,573 | 0.02% | Shares |
| Arax Advisory Partners | $197,851 | 12,420 | 0.02% | Shares |
| Stratos Wealth Partners, LTD. | $187,193 | 11,751 | 0.02% | Shares |
| JANE STREET GROUP, LLC | $178,416 | 11,200 | 0.02% | Put option |
| Kestra Advisory Services, LLC | $162,518 | 10,202 | 0.02% | Shares |
| Creative Planning | $160,989 | 10,106 | 0.02% | Shares |
| Corient Private Wealth LP | $159,300 | 10,000 | 0.02% | Shares |
| Inscription Capital, LLC | $159,300 | 10,000 | 0.02% | Shares |
| WOLVERINE TRADING, LLC | $151,956 | 25,200 | 0.02% | Call option |
| MERCER GLOBAL ADVISORS INC /ADV | $145,361 | 9,125 | 0.01% | Shares |
| Arkadios Wealth Advisors | $132,665 | 8,328 | 0.01% | Shares |
| RAYMOND JAMES FINANCIAL INC | $92,521 | 5,808 | 0.01% | Shares |
| Frazier Financial Advisors, LLC | $79,650 | 5,000 | 0.01% | Shares |
| WOLVERINE TRADING, LLC | $77,546 | 12,860 | 0.01% | Shares |
| CIBC Private Wealth Group LLC | $69,690 | 11,615 | 0.01% | Shares |
| OSAIC HOLDINGS, INC. | $59,100 | 3,710 | 0.01% | Shares |
| UBS Group AG | $53,142 | 3,336 | 0.01% | Shares |
| Farther Finance Advisors, LLC | $31,860 | 2,000 | 0.00% | Shares |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC | $20,436 | 1,300 | 0.00% | Shares |
| Game Plan Financial Advisors, LLC | $15,930 | 1,000 | 0.00% | Shares |
| WELLS FARGO & COMPANY/MN | $15,930 | 1,000 | 0.00% | Shares |
| NATIONAL BANK OF CANADA /FI/ | $15,910 | 1,000 | 0.00% | Shares |
| HARBOUR INVESTMENTS, INC. | $14,337 | 900 | 0.00% | Shares |
| Center for Financial Planning, Inc. | $12,744 | 800 | 0.00% | Shares |
| Larson Financial Group LLC | $11,151 | 700 | 0.00% | Shares |
| PROEQUITIES, INC. | $10,015 | 1,865 | 0.00% | Shares |
| Financial Management Professionals, Inc. | $9,956 | 625 | 0.00% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $7,364 | 462 | 0.00% | Shares |
| Global Retirement Partners, LLC | $7,232 | 454 | 0.00% | Shares |
| NewEdge Advisors, LLC | $6,372 | 400 | 0.00% | Shares |
| BOYD WATTERSON ASSET MANAGEMENT LLC/OH | $4,779 | 300 | 0.00% | Shares |
| Truvestments Capital LLC | $3,983 | 250 | 0.00% | Shares |
| CWM, LLC | $2,466 | 200 | 0.00% | Shares |
| Cygnus Capital Advisors, LLC | $2,231 | 180,927 | 0.00% | Shares |
| NFSG Corp | $1,593 | 100 | 0.00% | Shares |
| Allworth Financial LP | $797 | 50 | 0.00% | Shares |
| Russell Investments Group, Ltd. | $494 | 31 | 0.00% | Shares |
| Janney Montgomery Scott LLC | $422 | 26,515 | 0.00% | Shares |
| ASSETMARK, INC | $303 | 19 | 0.00% | Shares |
| Trust Co of Kansas | $207 | 13,000 | 0.00% | Shares |
| WEDBUSH SECURITIES INC | $196 | 12,311 | 0.00% | Shares |
| MORGAN STANLEY | $18 | 1 | 0.00% | Shares |
Company insiders 33 insiders · 19 officers · 13 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Michael H Krimbill | Chief Executive Officer | July 15, 2026 A | 3,678,615 | 0 | 0 | $0 |
| Bradley P Cooper | CFO & EVP | July 15, 2026 A | 800,000 | 0 | 0 | $0 |
| Linda J Bridges | CFO and EVP | Nov. 14, 2022 F | 126,639 | 0 | 0 | $0 |
| Robert W Karlovich III | CFO, Executive Vice President | May 5, 2021 A | 264,131 | 0 | 0 | $0 |
| Atanas H Atanasov | EVP, CFO and Treasurer | Feb. 5, 2016 D | 54,189 | 0 | 0 | $0 |
| Craig S Jones | CFO & Secretary | June 19, 2012 J | 29,190 | 0 | 0 | $0 |
| Vincent J Osterman | President, Eastern Retail | July 9, 2018 D | 129,093 | 0 | 0 | $0 |
| James J Burke | President | July 15, 2016 D | 154,815 | 0 | 0 | $0 |
| Brian K Pauling | NGL Logistics President | Feb. 22, 2013 S | 363,174 | 0 | 0 | $0 |
| Stephen D Tuttle | President, Midstream Division | May 24, 2011 D | 268,062 | 0 | 0 | $0 |
| Kurston Patrick Mcmurray | Gen Counsel, Exec. VP & Sec | Nov. 14, 2022 F | 180,943 | 0 | 0 | $0 |
| Lawrence J. Thuillier | Chief Accounting Officer | Nov. 14, 2022 F | 96,055 | 0 | 0 | $0 |
| John Ciolek | Executive Vice President | Dec. 15, 2021 P | 307,264 | 0 | 0 | $0 |
| Jeffrey A Herbers | Chief Accounting Officer | Nov. 30, 2015 D | 30,269 | 0 | 0 | $0 |
| Todd M Coady | SVP, Administration | March 30, 2015 A | 40,949 | 0 | 0 | $0 |
| David C Kehoe | Exec. VP NGL Crude Logistics | Sept. 9, 2014 S | 186,630 | 0 | 0 | $0 |
| Sharra Straight | VP & Comptroller | Aug. 15, 2014 M | 68,228 | 0 | 0 | $0 |
| Bradley K Atkinson | VP, Business Development | Aug. 15, 2014 M | 725,693 | 0 | 0 | $0 |
| Richard J. Gognat | Sec of High Sierra Energy, LP | June 19, 2012 J | 109,634 | 0 | 0 | $0 |
| Shawn W Coady | Director | July 15, 2026 A | 196,304 | 0 | 0 | $0 |
| Derek S Reiners | Director | July 15, 2026 A | 150,000 | 0 | 0 | $0 |
| Bryan K Guderian | Director | July 15, 2026 A | 146,500 | 0 | 0 | $0 |
| James M Collingsworth | Director | July 15, 2026 A | 753,500 | 1 | 0 | $580,000 |
| Stephen L Cropper | Director | Feb. 13, 2023 A | 87,500 | 0 | 0 | $0 |
| James C Kneale | Director | Nov. 13, 2019 A | 4,000 | 0 | 0 | $0 |
| John T Raymond | Director | June 4, 2019 S | 0 | 0 | 0 | $0 |
| Highstar Capital IV, L.P. | Director | June 23, 2017 S | 0 | 0 | 0 | $0 |
| Kevin Clement | Director | Dec. 11, 2012 P | 5,000 | 0 | 0 | $0 |
| William A Zartler | Director | May 24, 2011 D | 1,262,342 | 0 | 0 | $0 |
| SemGroup Corp | 10% owner | Aug. 5, 2014 S | 7,652,568 | 0 | 0 | $0 |
| SemStream, L.P. | 10% owner | June 19, 2012 J | 9,133,409 | 0 | 0 | $0 |
| Hicks Oils & Hicksgas, Inc | 10% owner | May 24, 2011 D | 1,838,905 | 0 | 0 | $0 |
| Patrice A Armbruster | — | March 24, 2014 J | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 10 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| EIG Neptune Equity Aggregator, L.P. (2) ×3 filings | Nov. 22, 2024 | — | Initial filing | — | SEC |
| Highstar NGL Prism/IV-A Interco LLC, Highstar NGL Main Interco LLC, NGL CIV A, LLC, NGL Prism/IV-A Blocker LLC, Highstar Capital NGL Co-Invest Manager LLC, Highstar Capital GP IV, L.P., Highstar Capital GP IV, LLC, Highstar Capital GP IV Holdings, Oaktree Fund GP II, L.P., Oaktree Capital II, L.P., Oaktree Holdings, Inc., Oaktree Capital Group, LLC, Oaktree Capital Group Holdings GP, LLC ×3 filings | May 15, 2019 | — | Initial filing | — | SEC |
| Harvest Fund Holdco L.P., Blackstone Harvest Holdco L.L.C., Blackstone Intermediary Holdco L.L.C., Blackstone Advisory Partners L.P., Blackstone Advisory Services L.L.C., Blackstone Holdings I L.P., Blackstone Holdings I/II GP Inc., The Blackstone Group L.P., Blackstone Group Management L.L.C., Stephen A. Schwarzman | April 3, 2018 | — | Initial filing | — | SEC |
| Harvest Fund Advisors LLC, Harvest Fund Holdco L.P., Blackstone Harvest Holdco L.L.C., Blackstone Intermediary Holdco L.L.C., Blackstone Advisory Partners L.P., Blackstone Advisory Services L.L.C., Blackstone Holdings I L.P., Blackstone Holdings I/II GP Inc., The Blackstone Group L.P., Blackstone Group Management L.L.C., Stephen A. Schwarzman ×2 filings | Jan. 26, 2018 | — | Initial filing | — | SEC |
| NGL Energy Partners LP, NGL Energy Holdings LLC, TransMontaigne LLC, TransMontaigne Product Services LLC, TransMontaigne Services LLC ×6 filings | April 4, 2016 | — | Initial filing | — | SEC |
| SemGroup Corporation ×3 filings | April 22, 2015 | — | Initial filing | — | SEC |
| EMG NGL HC, LLC, NGP Midstream & Resources, L.P., NGP MR, LP, NGP MR GP, LLC, John T. Raymond, John G. Calvert ×3 filings | Sept. 26, 2013 | — | Initial filing | M&A / sale | SEC |
| SemStream, L.P. (2), SemOperating G.P., L.L.C. (2), SemGroup Corporation (2) ×2 filings | Sept. 13, 2012 | — | Initial filing | — | SEC |
| Pacer Propane Holding, Inc., Pacer Propane Holding, L.P., Liberty Propane, L.L.C., Pacer-Enviro Propane, L.L.C., Pacer-Pittman Propane, L.L.C., Pacer-Portland Propane, L.L.C., Pacer Propane (Washington), L.L.C., Pacer-Salida Propane, L.L.C., Pacer-Utah Propane, L.L.C. | Jan. 13, 2012 | — | Initial filing | Passive investment | SEC |
| Vincent J. Osterman, Ernest Osterman, AO Energy, Inc., E. Osterman, Inc., E. Osterman Gas Service, Inc., E. Osterman Propane, Inc., Milford Propane, Inc., Osterman Propane, Inc., Propane Gas, Inc., Saveway Propane Gas Service, Inc. | Oct. 13, 2011 | — | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 6 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| ENFR · ALPS ETF Trust | 0.69% | 186,431 NS | May 31, 2026 | N-PORT |
| MLPA · Global X Funds | 0.00% | 100 NS | May 31, 2026 | N-PORT |
| PFF · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| PKW · Invesco Exchange-Traded Fund Trust | — | — | Aug. 4, 2026 | Daily |
| GTO · Invesco Actively Managed Exchange-T… | — | — | Aug. 18, 2026 | Daily |
| VRP · Invesco Exchange-Traded Fund Trust … | — | — | Aug. 17, 2026 | Daily |