FBR & Co upgraded shares of NGL ENERGY PARTNERS LP (NYSE:NGL) from a market perform rating to an outperform rating in a report issued on Friday morning. The brokerage currently has $29.00 price target on the stock, up from their prior price target of $21.00.
Several other research firms have also weighed in on NGL. TheStreet raised shares of NGL ENERGY PARTNERS from a d+ rating to a c- rating in a research note on Thursday, January 19th. Raymond James Financial, Inc. raised shares of NGL ENERGY PARTNERS from a market perform rating to an outperform rating and set a $24.00 price objective on the stock in a research note on Thursday, January 12th. RBC Capital Markets reissued a buy rating and set a $21.00 price objective on shares of NGL ENERGY PARTNERS in a research note on Friday, January 6th. Stifel Nicolaus lifted their price objective on shares of NGL ENERGY PARTNERS from $19.00 to $22.00 and gave the stock a buy rating in a research note on Wednesday, December 21st. Finally, Zacks Investment Research upgraded shares of NGL ENERGY PARTNERS from a strong sell rating to a hold rating in a report on Thursday, December 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $18.40.
Shares of NGL ENERGY PARTNERS (NYSE:NGL) opened at 24.80 on Friday. NGL ENERGY PARTNERS has a 52 week low of $5.57 and a 52 week high of $25.05. The firm’s market capitalization is $2.66 billion. The stock has a 50 day moving average of $20.93 and a 200-day moving average of $19.02.
NGL ENERGY PARTNERS (NYSE:NGL) last released its quarterly earnings data on Friday, November 4th. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.13) by $0.58. NGL ENERGY PARTNERS had a positive return on equity of 9.70% and a negative net margin of 0.85%. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.97 billion. Analysts expect that NGL ENERGY PARTNERS will post $2.02 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 14th. Stockholders of record on Friday, February 3rd will be issued a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, February 1st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.30%. NGL ENERGY PARTNERS’s dividend payout ratio (DPR) is presently -120.93%.
In other news, Director James M. Collingsworth bought 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The stock was acquired at an average cost of $17.52 per share, with a total value of $350,400.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO H Michael Krimbill bought 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The stock was purchased at an average cost of $18.13 per share, with a total value of $543,900.00. Following the completion of the purchase, the chief executive officer now directly owns 789,417 shares of the company’s stock, valued at approximately $14,312,130.21. The disclosure for this purchase can be found here.
Institutional investors have recently added to or reduced their stakes in the stock. Penn Capital Management Co. Inc. purchased a new position in NGL ENERGY PARTNERS during the second quarter valued at $209,000. Van ECK Associates Corp boosted its position in NGL ENERGY PARTNERS by 3.4% in the second quarter. Van ECK Associates Corp now owns 483,799 shares of the company’s stock valued at $9,347,000 after buying an additional 15,691 shares in the last quarter. Bridgecreek Investment Management LLC boosted its position in NGL ENERGY PARTNERS by 9.6% in the second quarter. Bridgecreek Investment Management LLC now owns 353,960 shares of the company’s stock valued at $6,839,000 after buying an additional 30,955 shares in the last quarter. Nuveen Fund Advisors LLC purchased a new position in NGL ENERGY PARTNERS during the second quarter valued at $511,000. Finally, Burnham Asset Management Corp NY boosted its position in NGL ENERGY PARTNERS by 37.4% in the second quarter. Burnham Asset Management Corp NY now owns 43,716 shares of the company’s stock valued at $845,000 after buying an additional 11,900 shares in the last quarter. 68.77% of the stock is owned by institutional investors and hedge funds.
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.