Shares of NGL Energy Partners LP (NYSE:NGL) have been given a consensus recommendation of “Buy” by the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $15.40.
NGL has been the subject of several recent analyst reports. ValuEngine upgraded NGL Energy Partners from a “sell” rating to a “hold” rating in a research report on Thursday, June 7th. Zacks Investment Research upgraded NGL Energy Partners from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Wednesday, June 6th. Bank of America initiated coverage on NGL Energy Partners in a research report on Tuesday, July 10th. They set a “buy” rating and a $15.00 target price for the company. TheStreet upgraded NGL Energy Partners from a “d+” rating to a “c-” rating in a research report on Monday, June 25th. Finally, Stifel Nicolaus boosted their price target on NGL Energy Partners from $12.00 to $13.00 and gave the company a “hold” rating in a report on Tuesday, August 14th.
Shares of NYSE:NGL traded down $0.20 during trading hours on Tuesday, hitting $12.95. 525,700 shares of the company’s stock traded hands, compared to its average volume of 787,748. NGL Energy Partners has a 1 year low of $8.57 and a 1 year high of $17.65. The firm has a market capitalization of $1.60 billion, a PE ratio of -19.37 and a beta of 1.07. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.14 and a quick ratio of 1.59.
NGL Energy Partners (NYSE:NGL) last announced its earnings results on Tuesday, August 7th. The oil and gas company reported ($1.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.93). NGL Energy Partners had a negative net margin of 1.01% and a negative return on equity of 0.54%. The business had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $4.53 billion. equities research analysts expect that NGL Energy Partners will post -0.44 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 14th. Investors of record on Wednesday, August 8th were issued a $0.39 dividend. The ex-dividend date was Tuesday, August 7th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 12.05%. NGL Energy Partners’s payout ratio is -229.41%.
In other NGL Energy Partners news, Director James M. Collingsworth acquired 25,870 shares of NGL Energy Partners stock in a transaction that occurred on Tuesday, June 5th. The stock was bought at an average price of $11.65 per share, with a total value of $301,385.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Highstar Capital Iv, L.P. sold 95,333 shares of the business’s stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $12.85, for a total transaction of $1,225,029.05. The disclosure for this sale can be found here.
Large investors have recently modified their holdings of the stock. Hilltop Holdings Inc. bought a new position in NGL Energy Partners in the first quarter worth approximately $121,000. Kayne Anderson Capital Advisors LP bought a new position in NGL Energy Partners in the second quarter worth approximately $125,000. Russell Investments Group Ltd. bought a new position in NGL Energy Partners in the second quarter worth approximately $166,000. Centaurus Financial Inc. bought a new position in NGL Energy Partners in the second quarter worth approximately $246,000. Finally, BNP Paribas Arbitrage SA raised its stake in NGL Energy Partners by 70.7% in the first quarter. BNP Paribas Arbitrage SA now owns 24,106 shares of the oil and gas company’s stock worth $265,000 after buying an additional 9,986 shares in the last quarter. 65.17% of the stock is owned by institutional investors.
NGL Energy Partners Company Profile
NGL Energy Partners LP, together with its subsidiaries, engages in the crude oil logistics, water solutions, liquids, retail propane, and refined products and renewables businesses. The Crude Oil Logistics segment purchases crude oil from producers and transports it to refineries for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs; and provides storage, terminaling, trucking, marine, and pipeline transportation services.
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