NGL Energy Partners LP (NGL) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of NGL Energy Partners LP (NYSE:NGL) have earned a consensus recommendation of “Hold” from the ten ratings firms that are covering the company. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $14.33.
Several analysts have recently commented on NGL shares. Zacks Investment Research downgraded shares of NGL Energy Partners from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 12th. FBR & Co started coverage on shares of 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. Finally, Stifel Nicolaus increased their target price on shares of NGL Energy Partners from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, August 5th.
In other NGL Energy Partners news, Director James M. Collingsworth bought 20,000 shares of the business’s stock in a transaction on Monday, November 14th. The stock was purchased at an average price of $17.52 per share, for a total transaction of $350,400.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO H Michael Krimbill bought 30,000 shares of the business’s stock in a transaction on Tuesday, November 15th. The shares were acquired at an average price of $18.13 per share, with a total value of $543,900.00. Following the transaction, the chief executive officer now directly owns 789,417 shares of the company’s stock, valued at $14,312,130.21. The disclosure for this purchase can be found here.
Institutional investors have recently modified their holdings of the company. Proficio Capital Partners LLC raised its position in shares of NGL Energy Partners by 110.4% in the third quarter. Proficio Capital Partners LLC now owns 9,934 shares of the company’s stock worth $187,000 after buying an additional 5,212 shares in the last quarter. Penn Capital Management Co. Inc. acquired a new position in shares of NGL Energy Partners during the second quarter worth $209,000. Oppenheimer & Co. Inc. raised its position in shares of NGL Energy Partners by 3.8% in the third quarter. Oppenheimer & Co. Inc. now owns 10,950 shares of the company’s stock worth $206,000 after buying an additional 400 shares in the last quarter. HAP Trading LLC acquired a new position in shares of NGL Energy Partners during the second quarter worth $221,000. Finally, Americafirst Capital Management LLC acquired a new position in shares of NGL Energy Partners during the third quarter worth $232,000.
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NGL Energy Partners (NYSE:NGL) opened at 18.55 on Monday. The company’s market cap is $1.99 billion. NGL Energy Partners has a 12 month low of $5.57 and a 12 month high of $20.50. The stock has a 50 day moving average of $18.43 and a 200-day moving average of $17.94.
NGL Energy Partners (NYSE:NGL) last announced its earnings results on Friday, November 4th. The company reported ($0.71) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by $0.58. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.97 billion. Equities research analysts expect that NGL Energy Partners will post $2.39 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Friday, November 4th were issued a dividend of $0.39 per share. The ex-dividend date was Wednesday, November 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 8.41%.
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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