Raymond James reissued their outperform rating on shares of NGL Energy Partners (NYSE:NGL) in a research note issued to investors on Monday, The Fly reports. Raymond James currently has a $15.00 price target on the oil and gas company’s stock, down from their previous price target of $17.00.
Several other research firms have also commented on NGL. UBS Group lowered shares of NGL Energy Partners from a buy rating to a neutral rating and reduced their target price for the company from $17.00 to $13.50 in a report on Tuesday, October 8th. ValuEngine raised shares of NGL Energy Partners from a strong sell rating to a sell rating in a report on Wednesday, November 6th. Piper Jaffray Companies started coverage on shares of NGL Energy Partners in a report on Wednesday, July 17th. They set a neutral rating and a $17.00 target price on the stock. Finally, Zacks Investment Research lowered shares of NGL Energy Partners from a buy rating to a hold rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $14.79.
Shares of NGL stock traded up $0.27 on Monday, hitting $10.11. 1,226,663 shares of the company’s stock traded hands, compared to its average volume of 915,409. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.98 and a current ratio of 1.18. NGL Energy Partners has a one year low of $8.71 and a one year high of $15.71. The company’s fifty day simple moving average is $11.88 and its 200 day simple moving average is $13.66. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -8.02, a P/E/G ratio of 5.07 and a beta of 1.08.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 15.43%. The ex-dividend date was Wednesday, November 6th. NGL Energy Partners’s dividend payout ratio is currently -123.81%.
In other news, Director James M. Collingsworth purchased 6,250 shares of the company’s stock in a transaction on Monday, August 19th. The stock was acquired at an average price of $13.25 per share, with a total value of $82,812.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its position in NGL Energy Partners by 292.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,257 shares of the oil and gas company’s stock valued at $87,000 after buying an additional 4,664 shares during the period. Arrow Investment Advisors LLC lifted its position in shares of NGL Energy Partners by 4.7% in the 3rd quarter. Arrow Investment Advisors LLC now owns 30,306 shares of the oil and gas company’s stock worth $422,000 after purchasing an additional 1,359 shares during the period. Alps Advisors Inc. lifted its position in shares of NGL Energy Partners by 38.4% in the 3rd quarter. Alps Advisors Inc. now owns 14,063,184 shares of the oil and gas company’s stock worth $195,619,000 after purchasing an additional 3,900,561 shares during the period. Biltmore Capital Advisors LLC lifted its position in shares of NGL Energy Partners by 100.0% in the 3rd quarter. Biltmore Capital Advisors LLC now owns 400,000 shares of the oil and gas company’s stock worth $5,564,000 after purchasing an additional 200,000 shares during the period. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of NGL Energy Partners in the 3rd quarter worth about $141,000. 63.92% of the stock is owned by institutional investors and hedge funds.
NGL Energy Partners Company Profile
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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