Guggenheim initiated coverage on shares of NGL Energy Partners (NYSE:NGL) in a research report report published on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $16.00 price target on the oil and gas company’s stock.
NGL has been the subject of several other research reports. ValuEngine upgraded shares of NGL Energy Partners from a sell rating to a hold rating in a report on Sunday, September 30th. Zacks Investment Research upgraded shares of NGL Energy Partners from a strong sell rating to a hold rating in a report on Thursday, November 15th. Wells Fargo & Co lowered their target price on shares of NGL Energy Partners from $14.00 to $11.00 and set a market perform rating for the company in a report on Monday, September 24th. Bank of America set a $15.00 target price on shares of NGL Energy Partners and gave the company a buy rating in a report on Wednesday, November 7th. Finally, Stifel Nicolaus increased their target price on shares of NGL Energy Partners from $12.00 to $13.00 and gave the company a hold rating in a report on Tuesday, August 14th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. NGL Energy Partners presently has a consensus rating of Buy and an average price target of $14.29.
Shares of NGL stock opened at $9.52 on Monday. The stock has a market capitalization of $1.15 billion, a PE ratio of -14.00 and a beta of 1.32. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 0.75. NGL Energy Partners has a one year low of $9.14 and a one year high of $17.65.
NGL Energy Partners (NYSE:NGL) last announced its earnings results on Thursday, November 8th. The oil and gas company reported ($0.63) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.64). The firm had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $4.83 billion. NGL Energy Partners had a net margin of 1.40% and a negative return on equity of 1.57%. On average, equities research analysts anticipate that NGL Energy Partners will post -0.81 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Thursday, November 8th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, November 7th. This represents a $1.56 annualized dividend and a yield of 16.39%. NGL Energy Partners’s payout ratio is currently -229.41%.
In related news, Director John T. Raymond purchased 50,000 shares of NGL Energy Partners stock in a transaction that occurred on Friday, September 14th. The stock was bought 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 $552,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO H Michael Krimbill purchased 30,000 shares of NGL Energy Partners stock in a transaction that occurred on Tuesday, November 27th. The shares were bought at an average price of $9.59 per share, with a total value of $287,700.00. Following the transaction, the chief executive officer now owns 1,131,417 shares of the company’s stock, valued at approximately $10,850,289.03. The disclosure for this purchase can be found here.
A number of institutional investors and hedge funds have recently bought and sold shares of NGL. OppenheimerFunds Inc. boosted its position in 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 worth $214,016,000 after purchasing an additional 968,983 shares during the period. SG Americas Securities LLC bought a new position in NGL Energy Partners during the third quarter worth about $2,716,000. HITE Hedge Asset Management LLC boosted its position in 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 worth $35,926,000 after purchasing an additional 99,982 shares during the period. Van ECK Associates Corp boosted its position in NGL Energy Partners by 10.9% during the second quarter. Van ECK Associates Corp now owns 256,167 shares of the oil and gas company’s stock worth $3,202,000 after purchasing an additional 25,128 shares during the period. Finally, Miller Value Partners LLC bought a new position in NGL Energy Partners during the second quarter worth about $3,125,000. Institutional investors own 63.12% 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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