$3.45 Billion in Sales Expected for NGL ENERGY PARTNERS LP (NYSE:NGL) This Quarter
Wall Street analysts predict that NGL ENERGY PARTNERS LP (NYSE:NGL) will post sales of $3.45 billion for the current fiscal quarter, Zacks reports. Three analysts have made estimates for NGL ENERGY PARTNERS’s earnings, with the lowest sales estimate coming in at $2.84 billion and the highest estimate coming in at $4.11 billion. NGL ENERGY PARTNERS reported sales of $3.05 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 13.1%. The firm is scheduled to report its next earnings results on Friday, November 3rd.
According to Zacks, analysts expect that NGL ENERGY PARTNERS will report full-year sales of $3.45 billion for the current financial year, with estimates ranging from $14.14 billion to $14.55 billion. For the next year, analysts expect that the firm will post sales of $15.11 billion per share, with estimates ranging from $13.39 billion to $17.33 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover NGL ENERGY PARTNERS.
NGL ENERGY PARTNERS (NYSE:NGL) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.59) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.38) by $0.21. NGL ENERGY PARTNERS had a negative net margin of 0.73% and a negative return on equity of 5.00%. The company had revenue of $3.78 billion for the quarter, compared to analyst estimates of $2.59 billion.
Several analysts recently commented on NGL shares. UBS AG cut their target price on shares of NGL ENERGY PARTNERS from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, August 4th. Zacks Investment Research upgraded shares of NGL ENERGY PARTNERS from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Stifel Nicolaus restated a “hold” rating and issued a $13.00 price target (down previously from $15.00) on shares of NGL ENERGY PARTNERS in a research report on Friday, June 16th. FBR & Co restated a “hold” rating on shares of NGL ENERGY PARTNERS in a research report on Friday, May 26th. Finally, Wells Fargo & Company downgraded shares of NGL ENERGY PARTNERS from an “outperform” rating to a “market perform” rating in a research report on Monday, July 17th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $19.00.
Shares of NGL ENERGY PARTNERS (NGL) opened at 9.95 on Friday. The stock’s 50 day moving average is $12.58 and its 200-day moving average is $17.69. NGL ENERGY PARTNERS has a 52-week low of $9.63 and a 52-week high of $25.80. The firm’s market capitalization is $1.21 billion.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Friday, August 4th will be given a $0.39 dividend. The ex-dividend date is Wednesday, August 2nd. This represents a $1.56 annualized dividend and a dividend yield of 15.68%. NGL ENERGY PARTNERS’s dividend payout ratio (DPR) is presently -124.80%.
In other NGL ENERGY PARTNERS news, Director Highstar Capital Iv, L.P. sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $12.60, for a total value of $315,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 477,653 shares of company stock valued at $6,541,910.
Large investors have recently added to or reduced their stakes in the company. Friedberg Investment Management increased its stake in NGL ENERGY PARTNERS by 44.5% in the first quarter. Friedberg Investment Management now owns 14,448 shares of the oil and gas company’s stock worth $326,000 after buying an additional 4,450 shares during the last quarter. Tiedemann Wealth Management LLC increased its stake in NGL ENERGY PARTNERS by 10.8% in the first quarter. Tiedemann Wealth Management LLC now owns 140,270 shares of the oil and gas company’s stock worth $3,170,000 after buying an additional 13,680 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its stake in NGL ENERGY PARTNERS by 300.6% in the first quarter. Kayne Anderson Capital Advisors LP now owns 3,259,800 shares of the oil and gas company’s stock worth $73,657,000 after buying an additional 2,446,100 shares during the last quarter. Eagle Global Advisors LLC increased its stake in NGL ENERGY PARTNERS by 6.2% in the first quarter. Eagle Global Advisors LLC now owns 3,138,039 shares of the oil and gas company’s stock worth $70,920,000 after buying an additional 182,930 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in NGL ENERGY PARTNERS by 26.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,861,544 shares of the oil and gas company’s stock worth $42,071,000 after buying an additional 386,858 shares during the last quarter. Institutional investors own 75.92% of the company’s stock.
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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