NGL Energy Partners LP (NGL) Stock Rating Upgraded by Zacks Investment Research
NGL Energy Partners LP (NYSE:NGL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “NGL Energy Partners LP is a limited partnership operating a vertically-integrated propane business with three operating segments: retail propane; wholesale supply and marketing; and midstream. The Retail Propane segment engages in retail marketing, sale, and distribution of propane, including the sale and lease of propane tanks, equipment, and supplies to residential, agricultural, commercial, and industrial customers through customer service locations. The Wholesale Supply and Marketing segment supplies propane and other natural gas liquids, as well as provides related storage to retailers, wholesalers, and refiners. The Midstream segment involves in the delivery of propane from pipelines or trucks to propane terminals and transfers the propane to third-party transport trucks for delivery to retailers, wholesalers, or other consumers. NGL Energy Partners LP is headquartered in Tulsa, Oklahoma. “
Other analysts also recently issued reports about the company. Stifel Nicolaus lifted their price target on NGL Energy Partners from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, August 5th. FBR & Co began coverage on NGL Energy Partners in a report on Friday, September 9th. They issued a “market perform” rating and a $21.00 target price for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $14.44.
NGL Energy Partners (NYSE:NGL) opened at 17.40 on Thursday. The firm’s 50-day moving average price is $18.60 and its 200-day moving average price is $17.56. NGL Energy Partners has a 12 month low of $5.57 and a 12 month high of $20.50. The stock’s market cap is $1.84 billion.
NGL Energy Partners (NYSE:NGL) last announced its quarterly earnings results on Friday, November 4th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by $0.58. The business earned $3.05 billion during the quarter, compared to the consensus estimate of $2.97 billion. On average, analysts predict that NGL Energy Partners will post $2.39 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Friday, November 4th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 8.97%. The ex-dividend date of this dividend is Wednesday, November 2nd.
In other NGL Energy Partners news, CEO H Michael Krimbill bought 20,000 shares of the company’s stock in a transaction 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 owns 789,417 shares of the company’s stock, valued at approximately $13,664,808.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
A number of institutional investors have recently added to or reduced their stakes in NGL. Proficio Capital Partners LLC boosted its position in NGL Energy Partners by 110.4% in the third quarter. Proficio Capital Partners LLC now owns 9,934 shares of the company’s stock valued at $187,000 after buying an additional 5,212 shares during the last quarter. Penn Capital Management Co. Inc. acquired a new position in NGL Energy Partners during the second quarter valued at about $209,000. Oppenheimer & Co. Inc. boosted its position in NGL Energy Partners by 3.8% in the third quarter. Oppenheimer & Co. Inc. now owns 10,950 shares of the company’s stock valued at $206,000 after buying an additional 400 shares during the last quarter. HAP Trading LLC acquired a new position in NGL Energy Partners during the second quarter valued at about $221,000. Finally, Americafirst Capital Management LLC acquired a new position in NGL Energy Partners during the third quarter valued at about $232,000.
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.
Receive News & Stock Ratings for NGL Energy Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NGL Energy Partners LP and related stocks with our FREE daily email newsletter.