Ngl Energy Partners Lp (NGL) CFO Acquires $116,600.00 in Stock

Ngl Energy Partners Lp (NYSE:NGL) CFO Robert W. Karlovich III purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were purchased at an average price of $11.66 per share, for a total transaction of $116,600.00. Following the completion of the acquisition, the chief financial officer now directly owns 99,320 shares in the company, valued at approximately $1,158,071.20. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of Ngl Energy Partners Lp (NYSE NGL) opened at $13.25 on Friday. Ngl Energy Partners Lp has a 52-week low of $8.57 and a 52-week high of $25.80. The company has a quick ratio of 0.99, a current ratio of 1.56 and a debt-to-equity ratio of 1.69.

Ngl Energy Partners announced that its board has approved a share buyback plan on Tuesday, August 29th that permits the company to buyback $15.00 million in shares. This buyback authorization permits the oil and gas company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Monday, November 6th were given a dividend of $0.39 per share. The ex-dividend date was Friday, November 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 11.77%. Ngl Energy Partners’s payout ratio is -74.29%.

A number of brokerages have commented on NGL. Stifel Nicolaus upped their target price on shares of Ngl Energy Partners from $10.00 to $12.00 and gave the stock a “hold” rating in a research note on Tuesday, November 21st. Zacks Investment Research cut shares of Ngl Energy Partners from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $16.00 price target (up previously from $14.00) on shares of Ngl Energy Partners in a research report on Tuesday, November 7th. Finally, TheStreet cut shares of Ngl Energy Partners from a “c-” rating to a “d+” rating in a research report on Tuesday, August 15th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Ngl Energy Partners presently has an average rating of “Hold” and a consensus target price of $17.00.

A number of large investors have recently bought and sold shares of NGL. Alps Advisors Inc. raised its holdings in shares of Ngl Energy Partners by 5.5% in the second quarter. Alps Advisors Inc. now owns 8,150,982 shares of the oil and gas company’s stock worth $114,114,000 after buying an additional 427,126 shares during the last quarter. Harvest Fund Advisors LLC raised its holdings in shares of Ngl Energy Partners by 6.8% in the third quarter. Harvest Fund Advisors LLC now owns 7,090,961 shares of the oil and gas company’s stock worth $81,901,000 after buying an additional 449,855 shares during the last quarter. Eagle Global Advisors LLC raised its holdings in shares of Ngl Energy Partners by 0.5% in the second quarter. Eagle Global Advisors LLC now owns 3,153,949 shares of the oil and gas company’s stock worth $44,155,000 after buying an additional 15,910 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Ngl Energy Partners by 20.2% in the second quarter. Goldman Sachs Group Inc. now owns 3,073,412 shares of the oil and gas company’s stock worth $43,028,000 after buying an additional 515,730 shares during the last quarter. Finally, HITE Hedge Asset Management LLC raised its holdings in shares of Ngl Energy Partners by 414.8% in the third quarter. HITE Hedge Asset Management LLC now owns 2,818,082 shares of the oil and gas company’s stock worth $32,549,000 after buying an additional 2,270,714 shares during the last quarter. 63.84% of the stock is owned by institutional investors.

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About Ngl Energy Partners

NGL Energy Partners LP owns and operates a vertically integrated energy business. The Company’s segments are crude oil logistics, water solutions, liquids, retail propane, refined products and renewables, and corporate and other. Its crude oil logistics segment includes owned and leased crude oil storage terminals, and owned and leased pipeline injection stations.

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