NGL Energy Partners LP (NGL) Given Consensus Recommendation of “Hold” by Analysts
NGL Energy Partners LP (NYSE:NGL) has earned a consensus rating of “Hold” from the ten research firms that are covering the firm. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $14.33.
NGL has been the subject of several analyst reports. Zacks Investment Research raised shares of NGL Energy Partners from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Thursday, June 30th. Stifel Nicolaus lifted their price objective on shares of NGL Energy Partners from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Finally, FBR & Co assumed coverage on shares of NGL Energy Partners in a report on Friday, September 9th. They set a “market perform” rating and a $21.00 price objective for the company.
In other NGL Energy Partners news, CEO H Michael Krimbill bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were bought at an average price of $17.31 per share, for a total transaction of $346,200.00. Following the transaction, the chief executive officer now directly owns 789,417 shares in the company, valued at $13,664,808.27. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
A number of institutional investors have recently modified their holdings of NGL. Alps Advisors Inc. purchased a new position in NGL Energy Partners during the second quarter worth about $113,909,000. Harvest Fund Advisors LLC boosted its position in NGL Energy Partners by 35.8% in the second quarter. Harvest Fund Advisors LLC now owns 4,767,360 shares of the company’s stock worth $92,105,000 after buying an additional 1,257,166 shares during the last quarter. HITE Hedge Asset Management LLC boosted its position in NGL Energy Partners by 865.4% in the second quarter. HITE Hedge Asset Management LLC now owns 1,071,778 shares of the company’s stock worth $20,707,000 after buying an additional 960,759 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in NGL Energy Partners by 187.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,328,740 shares of the company’s stock worth $9,992,000 after buying an additional 867,164 shares during the last quarter. Finally, Bank of Montreal Can purchased a new position in NGL Energy Partners during the second quarter worth about $7,674,000.
Shares of NGL Energy Partners (NYSE:NGL) traded down 0.68% during mid-day trading on Monday, reaching $18.97. 215,110 shares of the company’s stock were exchanged. The stock’s market cap is $2.00 billion. NGL Energy Partners has a one year low of $5.57 and a one year high of $20.50. The company has a 50 day moving average price of $18.41 and a 200-day moving average price of $16.19.
NGL Energy Partners (NYSE:NGL) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $1.50. The firm earned $2.72 billion during the quarter, compared to the consensus estimate of $2.48 billion. On average, analysts predict that NGL Energy Partners will post $2.56 EPS for the current year.
NGL Energy Partners Company Profile
NGL Energy Partners LP owns and operates a vertically integrated energy business. The Company’s segments are crude oil logistics, water solutions, liquids, retail propane, refined products and renewables, and corporate and other. Its crude oil logistics segment includes owned and leased crude oil storage terminals, and owned and leased pipeline injection stations.
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