Bank of America set a $15.00 price target on NGL Energy Partners (NYSE:NGL) in a research note released on Wednesday, MarketBeat Ratings reports. The firm currently has a buy rating on the oil and gas company’s stock.
Other research analysts also recently issued research reports about the company. ValuEngine upgraded NGL Energy Partners from a hold rating to a buy rating in a research note on Thursday, July 19th. Stifel Nicolaus raised their target price on NGL Energy Partners from $12.00 to $13.00 and gave the stock a hold rating in a research note on Tuesday, August 14th. Wells Fargo & Co cut their target price on NGL Energy Partners from $14.00 to $11.00 and set a market perform rating for the company in a research note on Monday, September 24th. Credit Suisse Group started coverage on NGL Energy Partners in a research note on Thursday, October 11th. They issued an outperform rating and a $15.00 target price for the company. Finally, Zacks Investment Research downgraded NGL Energy Partners from a hold rating to a strong sell rating in a research note on Wednesday, October 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. NGL Energy Partners has a consensus rating of Hold and a consensus target price of $14.00.
Shares of NGL stock traded down $0.20 on Wednesday, hitting $10.31. 1,057,700 shares of the stock were exchanged, compared to its average volume of 1,088,172. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.59 and a current ratio of 2.14. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -15.16 and a beta of 1.32. NGL Energy Partners has a one year low of $9.33 and a one year high of $17.65.
NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings results on Thursday, November 8th. The oil and gas company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.64). The firm had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $4.83 billion. NGL Energy Partners had a negative return on equity of 0.54% and a negative net margin of 1.01%. Equities analysts predict that NGL Energy Partners will post -1.07 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Thursday, November 8th will be paid a $0.39 dividend. The ex-dividend date is Wednesday, November 7th. This represents a $1.56 annualized dividend and a yield of 15.13%. NGL Energy Partners’s dividend payout ratio is currently -229.41%.
In other NGL Energy Partners news, Director John T. Raymond purchased 50,000 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was purchased at an average price of $11.04 per share, for a total transaction of $552,000.00. Following the transaction, the director now owns 50,000 shares in the company, valued at approximately $552,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO H Michael Krimbill purchased 20,000 shares of the company’s stock in a transaction dated Friday, August 31st. The shares were acquired at an average price of $11.65 per share, with a total value of $233,000.00. The disclosure for this purchase can be found here.
Several institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp boosted its position in shares of NGL Energy Partners by 12.5% during the 2nd quarter. Northern Trust Corp now owns 46,927 shares of the oil and gas company’s stock valued at $587,000 after acquiring an additional 5,224 shares during the last quarter. Raymond James & Associates boosted its position in shares of NGL Energy Partners by 9.7% during the 2nd quarter. Raymond James & Associates now owns 84,089 shares of the oil and gas company’s stock valued at $1,051,000 after acquiring an additional 7,465 shares during the last quarter. Rafferty Asset Management LLC boosted its position in shares of NGL Energy Partners by 4.8% during the 3rd quarter. Rafferty Asset Management LLC now owns 181,101 shares of the oil and gas company’s stock valued at $2,101,000 after acquiring an additional 8,301 shares during the last quarter. Baldwin Brothers Inc. MA boosted its position in shares of NGL Energy Partners by 90.9% during the 3rd quarter. Baldwin Brothers Inc. MA now owns 20,131 shares of the oil and gas company’s stock valued at $234,000 after acquiring an additional 9,588 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP bought a new stake in shares of NGL Energy Partners during the 2nd quarter valued at about $125,000. Hedge funds and other institutional investors own 63.08% of the company’s stock.
About NGL Energy Partners
NGL Energy Partners LP, together with its subsidiaries, engages in the crude oil logistics, water solutions, liquids, retail propane, and refined products and renewables businesses. The Crude Oil Logistics segment purchases crude oil from producers and transports it to refineries for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs; and provides storage, terminaling, trucking, marine, and pipeline transportation services.
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