Why NGL Could Double: Water Solutions & Refinancing Are Changing the Game
NGL Energy Partners has turned its Water Solutions segment into a high-margin growth engine. With $660M adjusted EBITDA in 2026, a completed $950M refinancing, and management guidance of $715-$725M for 2027, the setup favors a re-rate. This trade targets share-price recovery and multiple expansion while respecting balance-sheet risk.