NGL ENERGY PARTNERS LP (NGL) Position Raised by Penserra Capital Management LLC
Penserra Capital Management LLC increased its stake in shares of NGL ENERGY PARTNERS LP (NYSE:NGL) by 410.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 10,151 shares of the oil and gas company’s stock after buying an additional 8,164 shares during the period. Penserra Capital Management LLC’s holdings in NGL ENERGY PARTNERS were worth $141,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the stock. CFO4Life Group LLC bought a new stake in shares of NGL ENERGY PARTNERS during the first quarter valued at approximately $208,000. Proficio Capital Partners LLC boosted its stake in shares of NGL ENERGY PARTNERS by 68.9% in the second 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 period. US Bancorp DE boosted its stake in shares of NGL ENERGY PARTNERS by 7.8% in the second quarter. US Bancorp DE now owns 18,669 shares of the oil and gas company’s stock valued at $261,000 after buying an additional 1,350 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of NGL ENERGY PARTNERS during the first quarter valued at approximately $312,000. Finally, Friedberg Investment Management boosted its stake in shares of 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 valued at $326,000 after buying an additional 4,450 shares during the period. Hedge funds and other institutional investors own 70.19% of the company’s stock.
NGL ENERGY PARTNERS LP (NYSE NGL) opened at 9.20 on Wednesday. The firm’s 50-day moving average is $11.50 and its 200 day moving average is $16.60. NGL ENERGY PARTNERS LP has a 12-month low of $8.95 and a 12-month high of $25.80. The stock’s market capitalization is $1.12 billion.
NGL ENERGY PARTNERS (NYSE:NGL) last released its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.59) earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $2.59 billion. Equities research analysts anticipate that NGL ENERGY PARTNERS LP will post $0.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Friday, August 4th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 16.96%. The ex-dividend date of this dividend was Wednesday, August 2nd. NGL ENERGY PARTNERS’s dividend payout ratio (DPR) is -124.80%.
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Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of NGL ENERGY PARTNERS from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 28th. BidaskClub upgraded shares of NGL ENERGY PARTNERS from a “strong sell” rating to a “sell” rating in a report on Thursday, June 29th. Royal Bank Of Canada dropped their target price on shares of NGL ENERGY PARTNERS from $20.00 to $14.00 and set an “outperform” rating for the company in a report on Friday, August 4th. Wells Fargo & Company downgraded shares of NGL ENERGY PARTNERS from an “outperform” rating to a “market perform” rating in a report on Monday, July 17th. Finally, ValuEngine downgraded shares of NGL ENERGY PARTNERS from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Three equities 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 company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $18.57.
In other NGL ENERGY PARTNERS news, Director Highstar Capital Iv, L.P. sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $12.60, for a total transaction of $315,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 477,653 shares of company stock worth $6,541,910 in the last ninety days.
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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