Ngl Energy Partners Lp (NYSE:NGL) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 5,861,025 shares, a growth of 204.2% from the August 31st total of 1,926,796 shares. Approximately 5.2% of the shares of the company are short sold. Based on an average daily trading volume, of 3,276,372 shares, the days-to-cover ratio is presently 1.8 days.

A number of equities analysts have issued reports on NGL shares. FBR & Co reduced their price target on shares of Ngl Energy Partners Lp from $22.00 to $19.00 and set a “mkt perform” rating for the company in a research report on Thursday, June 8th. Stifel Nicolaus reissued a “hold” rating and set a $13.00 price target (down from $15.00) on shares of Ngl Energy Partners Lp in a research report on Friday, June 16th. BidaskClub raised shares of Ngl Energy Partners Lp from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 29th. Wells Fargo & Company lowered shares of Ngl Energy Partners Lp from an “outperform” rating to a “market perform” rating in a research report on Monday, July 17th. Finally, Zacks Investment Research lowered shares of Ngl Energy Partners Lp from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.17.

Ngl Energy Partners Lp (NYSE NGL) opened at 11.95 on Thursday. The stock’s market capitalization is $1.45 billion. The stock’s 50 day moving average is $10.01 and its 200 day moving average is $14.10. Ngl Energy Partners Lp has a 12-month low of $8.57 and a 12-month high of $25.80.

Ngl Energy Partners Lp (NYSE:NGL) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.59) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.21). Ngl Energy Partners Lp had a negative return on equity of 5.00% and a negative net margin of 0.73%. The company had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $2.59 billion. Equities research analysts forecast that Ngl Energy Partners Lp will post ($0.09) EPS for the current fiscal year.

Ngl Energy Partners Lp announced that its board has approved a stock buyback program on Tuesday, August 29th that authorizes the company to buyback $15.00 million in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

In other Ngl Energy Partners Lp news, CEO H Michael Krimbill purchased 75,000 shares of Ngl Energy Partners Lp stock in a transaction on Monday, September 11th. The stock was bought at an average cost of $8.86 per share, with a total value of $664,500.00. Following the transaction, the chief executive officer now owns 814,417 shares of the company’s stock, valued at approximately $7,215,734.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Several institutional investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. raised its stake in shares of Ngl Energy Partners Lp by 5.5% during the second quarter. Alps Advisors Inc. now owns 8,150,982 shares of the oil and gas company’s stock worth $114,114,000 after purchasing an additional 427,126 shares during the last quarter. Morgan Stanley raised its stake in shares of Ngl Energy Partners Lp by 4.4% during the first quarter. Morgan Stanley now owns 3,980,011 shares of the oil and gas company’s stock worth $89,948,000 after purchasing an additional 169,522 shares during the last quarter. Eagle Global Advisors LLC raised its stake in shares of Ngl Energy Partners Lp by 0.5% during the second quarter. Eagle Global Advisors LLC now owns 3,153,949 shares of the oil and gas company’s stock worth $44,155,000 after purchasing an additional 15,910 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Ngl Energy Partners Lp by 20.2% during the second quarter. Goldman Sachs Group Inc. now owns 3,073,412 shares of the oil and gas company’s stock worth $43,028,000 after purchasing an additional 515,730 shares during the last quarter. Finally, UBS Group AG raised its stake in shares of Ngl Energy Partners Lp by 39.4% during the first quarter. UBS Group AG now owns 3,028,318 shares of the oil and gas company’s stock worth $68,440,000 after purchasing an additional 856,535 shares during the last quarter. Institutional investors and hedge funds own 70.19% of the company’s stock.

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Ngl Energy Partners Lp 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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