NGL Energy Partners LP (NGL) Given Consensus Recommendation of “Hold” by Analysts
NGL Energy Partners LP (NYSE:NGL) has been given a consensus recommendation of “Hold” by the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $15.40.
Several brokerages have issued reports on NGL. ValuEngine upgraded NGL Energy Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Zacks Investment Research lowered NGL Energy Partners from a “hold” rating to a “sell” rating in a research note on Friday, February 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $16.00 target price (up previously from $14.00) on shares of NGL Energy Partners in a research note on Tuesday, November 7th. Stifel Nicolaus reissued a “hold” rating and issued a $10.00 target price on shares of NGL Energy Partners in a research note on Sunday, October 29th. Finally, Credit Suisse Group initiated coverage on NGL Energy Partners in a research note on Thursday, January 4th. They issued an “outperform” rating and a $16.00 target price for the company.
Shares of NGL Energy Partners (NGL) remained flat at $$12.65 on Tuesday. 475,305 shares of the company’s stock traded hands, compared to its average volume of 1,084,795. The stock has a market capitalization of $1,531.71, a P/E ratio of -7.40 and a beta of 0.79. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.69 and a quick ratio of 1.14. NGL Energy Partners has a 12-month low of $8.57 and a 12-month high of $23.25.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, February 6th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 12.33%. The ex-dividend date was Monday, February 5th. NGL Energy Partners’s payout ratio is -91.23%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NGL. BNP Paribas Arbitrage SA raised its position in NGL Energy Partners by 399.1% during 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 purchasing an additional 7,183 shares during the last quarter. Commonwealth Equity Services Inc bought a new position in NGL Energy Partners during the 3rd quarter valued at approximately $117,000. Yorkville Capital Management LLC bought a new position in NGL Energy Partners during the 4th quarter valued at approximately $196,000. Edge Advisors LLC bought a new position in NGL Energy Partners during the 4th quarter valued at approximately $210,000. Finally, Penbrook Management LLC bought a new position in NGL Energy Partners during the 4th quarter valued at approximately $211,000. 66.82% of the stock is owned by institutional investors and hedge funds.
About NGL Energy Partners
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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