NGL Energy Partners (NGL) Earns Buy Rating from Analysts at Guggenheim
Guggenheim assumed coverage on shares of NGL Energy Partners (NYSE:NGL) in a report released on Monday morning, Marketbeat.com reports. The firm issued a buy rating and a $16.00 price target on the oil and gas company’s stock.
A number of other research firms also recently commented on NGL. Zacks Investment Research downgraded NGL Energy Partners from a hold rating to a strong sell rating in a report on Wednesday, October 17th. Credit Suisse Group initiated coverage on NGL Energy Partners in a report on Thursday, October 11th. They issued an outperform rating and a $15.00 price objective on the stock. ValuEngine downgraded NGL Energy Partners from a buy rating to a hold rating in a report on Friday, August 17th. Stifel Nicolaus raised their price objective on NGL Energy Partners from $12.00 to $13.00 and gave the stock a hold rating in a report on Tuesday, August 14th. Finally, Bank of America cut their price objective on NGL Energy Partners from $15.00 to $13.00 and set a buy rating on the stock in a report on Monday, October 1st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. NGL Energy Partners presently has an average rating of Buy and a consensus target price of $14.29.
NGL Energy Partners stock opened at $9.75 on Monday. The stock has a market capitalization of $1.18 billion, a PE ratio of -14.34 and a beta of 1.32. The company has a current ratio of 1.08, a quick ratio of 0.75 and a debt-to-equity ratio of 0.83. NGL Energy Partners has a 12 month low of $9.14 and a 12 month high of $17.65.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Thursday, November 8th were issued a dividend of $0.39 per share. The ex-dividend date was Wednesday, November 7th. This represents a $1.56 annualized dividend and a dividend yield of 16.00%. NGL Energy Partners’s payout ratio is currently -229.41%.
In related news, Director John T. Raymond bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were acquired at an average cost of $11.04 per share, for a total transaction of $552,000.00. Following the acquisition, the director now owns 50,000 shares in the company, valued at approximately $552,000. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO H Michael Krimbill bought 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 27th. The shares were bought at an average price of $9.59 per share, for a total transaction of $287,700.00. Following the completion of the acquisition, the chief executive officer now owns 1,131,417 shares in the company, valued at approximately $10,850,289.03. The disclosure for this purchase can be found here.
Large investors have recently made changes to their positions in the stock. Kayne Anderson Capital Advisors LP purchased a new stake in shares of NGL Energy Partners during the 2nd quarter valued at about $125,000. Clear Harbor Asset Management LLC acquired a new stake in NGL Energy Partners during the 3rd quarter valued at approximately $154,000. Russell Investments Group Ltd. acquired a new stake in NGL Energy Partners during the 2nd quarter valued at approximately $166,000. Gibraltar Capital Management Inc. acquired a new stake in NGL Energy Partners during the 3rd quarter valued at approximately $201,000. Finally, Bank of New York Mellon Corp acquired a new stake in NGL Energy Partners during the 3rd quarter valued at approximately $218,000. Institutional investors and hedge funds own 63.12% of the company’s stock.
NGL Energy Partners Company Profile
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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