Bank of America set a $15.00 price objective on NGL Energy Partners (NYSE:NGL) in a report published on Wednesday morning, MarketBeat reports. The brokerage currently has a buy rating on the oil and gas company’s stock.
A number of other equities analysts have also recently commented on the company. Zacks Investment Research cut NGL Energy Partners from a hold rating to a strong sell rating in a research note on Wednesday, October 17th. Credit Suisse Group began coverage on NGL Energy Partners in a research note on Thursday, October 11th. They issued an outperform rating and a $15.00 price target on the stock. ValuEngine raised NGL Energy Partners from a sell rating to a hold rating in a research note on Thursday, October 11th. Wells Fargo & Co cut their price objective on NGL Energy Partners from $14.00 to $11.00 and set a market perform rating on the stock in a research report on Monday, September 24th. Finally, Stifel Nicolaus lifted their price objective on NGL Energy Partners from $12.00 to $13.00 and gave the stock a hold rating in a research report on Tuesday, August 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. NGL Energy Partners presently has a consensus rating of Hold and a consensus price target of $14.00.
NGL Energy Partners stock traded down $0.20 during trading hours on Wednesday, reaching $10.31. The company had a trading volume of 1,057,700 shares, compared to its average volume of 1,088,172. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.14 and a quick ratio of 1.59. The stock has a market capitalization of $1.35 billion, a P/E ratio of -15.16 and a beta of 1.32. NGL Energy Partners has a 12-month low of $9.33 and a 12-month high of $17.65.
NGL Energy Partners (NYSE:NGL) last announced its quarterly earnings results on Thursday, November 8th. The oil and gas company reported ($0.63) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.64). The company had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $4.83 billion. NGL Energy Partners had a negative return on equity of 0.54% and a negative net margin of 1.01%. Sell-side analysts expect that NGL Energy Partners will post -1.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Thursday, November 8th will be given a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, November 7th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 15.13%. NGL Energy Partners’s dividend payout ratio is currently -229.41%.
In other NGL Energy Partners news, CEO H Michael Krimbill acquired 20,000 shares of the business’s stock in a transaction dated Friday, August 31st. The shares were purchased at an average cost of $11.65 per share, for a total transaction of $233,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John T. Raymond acquired 50,000 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was acquired at an average price of $11.04 per share, for a total transaction of $552,000.00. Following the completion of the transaction, the director now owns 50,000 shares in the company, valued at approximately $552,000. The disclosure for this purchase can be found here.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OppenheimerFunds Inc. boosted its position in shares of NGL Energy Partners by 6.0% during the second quarter. OppenheimerFunds Inc. now owns 17,121,298 shares of the oil and gas company’s stock valued at $214,016,000 after purchasing an additional 968,983 shares in the last quarter. Alps Advisors Inc. boosted its position in shares of NGL Energy Partners by 6.9% during the third quarter. Alps Advisors Inc. now owns 9,956,716 shares of the oil and gas company’s stock valued at $115,498,000 after purchasing an additional 643,938 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of NGL Energy Partners by 43.6% during the third quarter. JPMorgan Chase & Co. now owns 3,455,392 shares of the oil and gas company’s stock valued at $40,083,000 after purchasing an additional 1,049,863 shares in the last quarter. HITE Hedge Asset Management LLC boosted its position in shares of NGL Energy Partners by 3.6% during the second quarter. HITE Hedge Asset Management LLC now owns 2,874,064 shares of the oil and gas company’s stock valued at $35,926,000 after purchasing an additional 99,982 shares in the last quarter. Finally, RR Advisors LLC boosted its position in shares of NGL Energy Partners by 175.3% during the third quarter. RR Advisors LLC now owns 2,635,000 shares of the oil and gas company’s stock valued at $30,573,000 after purchasing an additional 1,678,000 shares in the last quarter. Institutional investors own 63.08% of the company’s stock.
About NGL Energy Partners
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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