Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Ngl Energy Partners Lp (NGL) Stock Price
Media coverage about Ngl Energy Partners Lp (NYSE:NGL) has trended somewhat positive this week, according to Accern Sentiment Analysis. The research firm scores the sentiment of press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Ngl Energy Partners Lp earned a media sentiment score of 0.14 on Accern’s scale. Accern also gave news articles about the oil and gas company an impact score of 46.543876781532 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
These are some of the news articles that may have effected Accern’s analysis:
- EPIC Pipeline plans NGL pipeline alongside crude oil line (mrt.com)
- NGL Energy Partners LP (NGL) Stock Price trades -28.22% off from 200- SMA – Voice Of Analysts (analystsbuzz.com)
- Head-To-Head Review: NGL ENERGY PARTNERS (NGL) and The Competition (americanbankingnews.com)
- Dirty water in U.S. shale patch drives investment in water handlers (reuters.com)
- Ngl Energy Partners Lp (NGL) Expected to Post Quarterly Sales of $3.22 Billion (americanbankingnews.com)
Shares of Ngl Energy Partners Lp (NGL) traded up 2.59% on Wednesday, reaching $11.90. 1,193,165 shares of the company’s stock traded hands. The stock’s market capitalization is $1.45 billion. The company has a 50 day moving average of $10.30 and a 200-day moving average of $13.74. Ngl Energy Partners Lp has a 52 week low of $8.57 and a 52 week high of $25.80.
Ngl Energy Partners Lp (NYSE:NGL) last issued its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.59) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.21). The business had revenue of $3.78 billion for the quarter, compared to analyst estimates of $2.59 billion. Ngl Energy Partners Lp had a negative return on equity of 5.00% and a negative net margin of 0.73%. Equities research analysts forecast that Ngl Energy Partners Lp will post ($0.09) earnings per share for the current year.
Ngl Energy Partners Lp announced that its Board of Directors has authorized a share buyback program on Tuesday, August 29th that allows the company to buyback $15.00 million in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.
A number of research analysts recently commented on NGL shares. UBS AG dropped their target price on shares of Ngl Energy Partners Lp from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, August 4th. TheStreet downgraded shares of Ngl Energy Partners Lp from a “c-” rating to a “d+” rating in a research report on Tuesday, August 15th. Zacks Investment Research raised shares of Ngl Energy Partners Lp from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $13.00 target price (down from $15.00) on shares of Ngl Energy Partners Lp in a research report on Friday, June 16th. Finally, Wells Fargo & Company downgraded shares of Ngl Energy Partners Lp from an “outperform” rating to a “market perform” rating in a research report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Ngl Energy Partners Lp presently has an average rating of “Hold” and a consensus target price of $17.17.
In other news, CEO H Michael Krimbill purchased 75,000 shares of the stock in a transaction dated Monday, September 11th. The stock was acquired at an average price of $8.86 per share, for a total transaction of $664,500.00. Following the completion of the transaction, the chief executive officer now owns 814,417 shares of the company’s stock, valued at $7,215,734.62. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.
About Ngl Energy Partners Lp
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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