SCHEDULE 13G: Bank of America Discloses 5.2% Passive Stake in NGL Energy Partners LP

Bank of America Corporation has disclosed a 5.2% beneficial ownership stake in NGL Energy Partners LP, held in the ordinary course of business as a passive investment.

Summary

• Bank of America Corp /DE/ (the "Reporting Person") has filed a Schedule 13G, indicating beneficial ownership of common units representing Limited Partner Interests in NGL Energy Partners LP (the "Issuer").
• As of December 31, 2024, Bank of America Corp beneficially owns 6,812,752 common units of NGL Energy Partners LP.
• This ownership stake represents 5.2% of the total class of common units.
• The Reporting Person holds shared voting power over 6,785,582 units and shared dispositive power over 6,812,752 units.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.
• The filing is made by Bank of America Corporation on behalf of itself and its wholly-owned subsidiaries, including Bank of America N.A., BofA Securities, Inc., and Merrill Lynch Pierce Fenner & Smith, Inc.

Sentiment

Score: 6

Explanation: The sentiment is largely neutral as this is a factual regulatory disclosure of beneficial ownership. The explicit statement that the shares are held in the ordinary course of business and not for control purposes adds a slightly positive nuance by clarifying the passive nature of the investment.

Positives

• Bank of America Corp, a major financial institution, holds a significant 5.2% stake in NGL Energy Partners LP, which may signal institutional confidence.
• The filing explicitly states the securities are held in the ordinary course of business and not for the purpose of changing or influencing control, indicating a passive investment without hostile intent.

Negatives

• NA

Risks

• NA

Future Outlook

This Schedule 13G filing is a disclosure of beneficial ownership and does not contain any forward-looking statements or guidance regarding NGL Energy Partners LP's future outlook.

Management Comments

• The filing includes a certification from Bank of America Corp stating that the securities were acquired and are held in the ordinary course of business and not for the purpose of or with the effect of changing or influencing the control of the issuer.

Industry Context

This filing represents a routine disclosure of institutional ownership by a major financial entity, Bank of America, in an energy sector company, NGL Energy Partners LP. Such passive stakes are common for large banks and investment firms holding securities in their ordinary course of business, reflecting portfolio management rather than strategic industry shifts.

Comparison to Industry Standards

• NA

Stakeholder Impact

• Shareholders: The disclosure of a significant passive stake by a major financial institution like Bank of America may be viewed positively, indicating institutional interest and liquidity in the common units.

Next Steps

• NA

Key Dates

Keywords

NGL Energy Partners LP, Bank of America, Schedule 13G, beneficial ownership, common units, limited partner interests, SEC filing, institutional ownership