Northern Trust Corp lifted its position in NGL Energy Partners LP (NYSE:NGL) by 12.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,927 shares of the oil and gas company’s stock after buying an additional 5,224 shares during the period. Northern Trust Corp’s holdings in NGL Energy Partners were worth $587,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Miller Value Partners LLC bought a new position in NGL Energy Partners in the 2nd quarter valued at $3,125,000. Centaurus Financial Inc. bought a new position in NGL Energy Partners in the 2nd quarter valued at $246,000. First Republic Investment Management Inc. bought a new position in NGL Energy Partners in the 2nd quarter valued at $685,000. Raymond James & Associates boosted its position in NGL Energy Partners by 9.7% in the 2nd quarter. Raymond James & Associates now owns 84,089 shares of the oil and gas company’s stock valued at $1,051,000 after buying an additional 7,465 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its position in NGL Energy Partners by 6.0% in the 2nd quarter. OppenheimerFunds Inc. now owns 17,121,298 shares of the oil and gas company’s stock valued at $214,016,000 after buying an additional 968,983 shares during the last quarter. 63.12% of the stock is currently owned by institutional investors.
In related news, CEO H Michael Krimbill purchased 30,000 shares of NGL Energy Partners stock in a transaction dated Tuesday, November 27th. The shares were acquired at an average cost of $9.59 per share, for a total transaction of $287,700.00. Following the transaction, the chief executive officer now directly owns 1,131,417 shares of the company’s stock, valued at $10,850,289.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John T. Raymond purchased 50,000 shares of NGL Energy Partners stock in a transaction dated 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 directly owns 50,000 shares in the company, valued at $552,000. The disclosure for this purchase can be found here.
Shares of NGL opened at $9.75 on Friday. NGL Energy Partners LP has a 52 week low of $9.14 and a 52 week high of $17.65. The company has a quick ratio of 0.75, a current ratio of 1.08 and a debt-to-equity ratio of 0.83.
NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings results on Thursday, November 8th. The oil and gas company reported ($0.63) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.64). NGL Energy Partners had a negative return on equity of 1.57% and a net margin of 1.40%. The company had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $4.83 billion. Research analysts anticipate that NGL Energy Partners LP will post -0.81 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Thursday, November 8th were given a $0.39 dividend. The ex-dividend date was Wednesday, November 7th. This represents a $1.56 annualized dividend and a dividend yield of 16.00%. NGL Energy Partners’s dividend payout ratio is currently -229.41%.
A number of research analysts have commented on the company. Guggenheim assumed coverage on NGL Energy Partners in a research report on Monday. They issued a “buy” rating and a $16.00 price objective on the stock. Zacks Investment Research upgraded NGL Energy Partners from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 15th. ValuEngine lowered NGL Energy Partners from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Stifel Nicolaus increased their price objective on NGL Energy Partners from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Tuesday, August 14th. Finally, Bank of America decreased their price objective on NGL Energy Partners from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, October 1st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. NGL Energy Partners currently has a consensus rating of “Buy” and a consensus target price of $14.29.
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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.
Further Reading: Institutional Investors
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