Ngl Energy Partners Lp (NYSE:NGL)‘s stock had its “outperform” rating reiterated by research analysts at Royal Bank Of Canada in a research report issued on Tuesday, Marketbeat reports. They currently have a $16.00 price target on the oil and gas company’s stock, up from their prior price target of $14.00. Royal Bank Of Canada’s target price would indicate a potential upside of 26.98% from the stock’s current price.

NGL has been the subject of a number of other reports. BidaskClub lowered Ngl Energy Partners Lp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research lowered Ngl Energy Partners Lp from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Stifel Nicolaus reiterated a “hold” rating and set a $10.00 price objective on shares of Ngl Energy Partners Lp in a research note on Sunday, October 29th. Wells Fargo & Company lowered Ngl Energy Partners Lp from an “outperform” rating to a “market perform” rating in a research note on Monday, July 17th. Finally, UBS AG dropped their price objective on Ngl Energy Partners Lp from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, August 4th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Ngl Energy Partners Lp presently has a consensus rating of “Hold” and a consensus target price of $17.50.

Ngl Energy Partners Lp (NYSE NGL) opened at $12.60 on Tuesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.94 and a current ratio of 1.63. Ngl Energy Partners Lp has a 12 month low of $8.57 and a 12 month high of $25.80.

Ngl Energy Partners Lp declared that its Board of Directors has initiated a share buyback program on Tuesday, August 29th that authorizes the company to buyback $15.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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In related news, CEO H Michael Krimbill bought 75,000 shares of Ngl Energy Partners Lp stock in a transaction on Monday, September 11th. The shares were purchased at an average price of $8.86 per share, for a total transaction of $664,500.00. Following the completion of the acquisition, the chief executive officer now owns 814,417 shares in the company, valued at $7,215,734.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NGL. BNP Paribas Arbitrage SA raised its position in Ngl Energy Partners Lp by 399.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,983 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 7,183 shares during the last quarter. Commonwealth Equity Services Inc acquired a new stake in Ngl Energy Partners Lp in the 3rd quarter valued at approximately $117,000. Penserra Capital Management LLC raised its position in Ngl Energy Partners Lp by 410.9% in the 2nd quarter. Penserra Capital Management LLC now owns 10,151 shares of the oil and gas company’s stock valued at $141,000 after buying an additional 8,164 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in Ngl Energy Partners Lp by 32.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,450 shares of the oil and gas company’s stock valued at $202,000 after buying an additional 3,500 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its position in Ngl Energy Partners Lp by 68.9% in the 2nd quarter. Proficio Capital Partners LLC now owns 16,990 shares of the oil and gas company’s stock valued at $208,000 after buying an additional 6,932 shares during the last quarter. 68.86% of the stock is currently owned by institutional investors.

About Ngl Energy Partners Lp

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.

Analyst Recommendations for Ngl Energy Partners Lp (NYSE:NGL)

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