NGL ENERGY PARTNERS LP (NYSE:NGL) Downgraded by BidaskClub to “Strong Sell”
BidaskClub cut shares of NGL ENERGY PARTNERS LP (NYSE:NGL) from a sell rating to a strong sell rating in a research report sent to investors on Thursday morning.
Several other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of NGL ENERGY PARTNERS from a hold rating to a sell rating in a report on Wednesday, April 26th. ValuEngine lowered shares of NGL ENERGY PARTNERS from a hold rating to a sell rating in a report on Friday, June 2nd. FBR & Co lowered shares of NGL ENERGY PARTNERS from an outperform rating to a market perform rating and decreased their price objective for the stock from $28.00 to $22.00 in a report on Tuesday, April 25th. Stifel Nicolaus restated a hold rating and issued a $13.00 price objective (down from $15.00) on shares of NGL ENERGY PARTNERS in a report on Friday, June 16th. Finally, Royal Bank Of Canada decreased their price objective on shares of NGL ENERGY PARTNERS from $27.00 to $24.00 and set an outperform rating on the stock in a report on Tuesday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $21.43.
Shares of NGL ENERGY PARTNERS (NGL) traded down 0.39% during trading on Thursday, hitting $12.75. 438,351 shares of the stock were exchanged. The stock’s 50 day moving average price is $12.99 and its 200-day moving average price is $18.51. NGL ENERGY PARTNERS has a one year low of $11.50 and a one year high of $25.80. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 13.42 and a beta of 0.53.
NGL ENERGY PARTNERS (NYSE:NGL) last issued its quarterly earnings data on Thursday, May 25th. The oil and gas company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. NGL ENERGY PARTNERS had a net margin of 1.05% and a return on equity of 6.78%. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $2.77 billion. On average, analysts predict that NGL ENERGY PARTNERS will post $0.26 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Friday, August 4th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 12.19%. NGL ENERGY PARTNERS’s dividend payout ratio (DPR) is presently 210.81%.
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 transaction of $315,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 477,653 shares of company stock worth $6,541,910.
Large investors have recently added to or reduced their stakes in the company. CFO4Life Group LLC acquired a new stake in NGL ENERGY PARTNERS during the first quarter worth about $208,000. US Bancorp DE raised its stake in 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 worth $261,000 after buying an additional 1,350 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in NGL ENERGY PARTNERS during the first quarter worth about $312,000. Friedberg Investment Management raised 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 period. Finally, Alliancebernstein L.P. raised its stake in NGL ENERGY PARTNERS by 40.6% in the first quarter. Alliancebernstein L.P. now owns 20,841 shares of the oil and gas company’s stock worth $471,000 after buying an additional 6,018 shares during the period. Institutional investors own 75.83% 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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