NGL Energy Partners LP (NYSE:NGL) shares saw an uptick in trading volume on Friday . 1,647,000 shares changed hands during mid-day trading, an increase of 89% from the previous session’s volume of 870,344 shares.The stock last traded at $14.12 and had previously closed at $12.93.
A number of research firms have issued reports on NGL. Piper Jaffray Companies began coverage on shares of NGL Energy Partners in a research note on Wednesday, July 17th. They issued a “neutral” rating and a $17.00 target price for the company. ValuEngine cut shares of NGL Energy Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. UBS Group lifted their target price on shares of NGL Energy Partners from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Raymond James set a $18.00 target price on shares of NGL Energy Partners and gave the company a “buy” rating in a research note on Friday, May 24th. Finally, Zacks Investment Research cut shares of NGL Energy Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $15.75.
The company has a market cap of $1.70 billion, a P/E ratio of -11.21, a price-to-earnings-growth ratio of 7.93 and a beta of 1.11. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 1.59. The stock’s 50-day moving average price is $13.61 and its 200 day moving average price is $14.11.
NGL Energy Partners (NYSE:NGL) last released its quarterly earnings results on Thursday, August 8th. The oil and gas company reported ($0.96) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.89). NGL Energy Partners had a net margin of 1.54% and a negative return on equity of 1.15%. The firm had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $5.40 billion. NGL Energy Partners’s revenue for the quarter was up 13.6% compared to the same quarter last year. Analysts expect that NGL Energy Partners LP will post 0.82 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 11.05%. The ex-dividend date of this dividend was Tuesday, August 6th. NGL Energy Partners’s dividend payout ratio is -123.81%.
In other news, CEO H Michael Krimbill purchased 60,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were bought at an average price of $12.72 per share, with a total value of $763,200.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James M. Collingsworth purchased 6,250 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was purchased at an average cost of $13.25 per share, for a total transaction of $82,812.50. The disclosure for this purchase can be found here.
A number of hedge funds have recently made changes to their positions in NGL. Invesco Ltd. increased its position in NGL Energy Partners by 11,053.5% during the second quarter. Invesco Ltd. now owns 21,007,430 shares of the oil and gas company’s stock worth $310,279,000 after acquiring an additional 20,819,081 shares during the period. OppenheimerFunds Inc. increased its position in NGL Energy Partners by 12.5% during the first quarter. OppenheimerFunds Inc. now owns 20,250,603 shares of the oil and gas company’s stock worth $284,116,000 after acquiring an additional 2,257,816 shares during the period. JPMorgan Chase & Co. increased its position in NGL Energy Partners by 14.2% during the first quarter. JPMorgan Chase & Co. now owns 3,108,236 shares of the oil and gas company’s stock worth $43,609,000 after acquiring an additional 386,770 shares during the period. Wells Fargo & Company MN increased its position in NGL Energy Partners by 69.2% during the second quarter. Wells Fargo & Company MN now owns 706,442 shares of the oil and gas company’s stock worth $10,435,000 after acquiring an additional 288,954 shares during the period. Finally, Biltmore Capital Advisors LLC bought a new position in NGL Energy Partners during the first quarter worth $3,087,000. 76.97% of the stock is currently owned by institutional investors and hedge funds.
About NGL Energy Partners (NYSE:NGL)
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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