NGL Energy Partners LP (NYSE:NGL) dropped 3% during trading on Friday . The company traded as low as $18.75 and last traded at $18.80, with a volume of 327,714 shares traded. The stock had previously closed at $19.38.

NGL has been the subject of a number of research analyst reports. Wunderlich lifted their target price on shares of NGL Energy Partners from $7.50 to $13.50 and gave the stock a “hold” rating in a research report on Monday, May 2nd. Zacks Investment Research raised shares of NGL Energy Partners from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Thursday, April 28th. Stifel Nicolaus raised shares of NGL Energy Partners from a “hold” rating to a “buy” rating and lifted their target price for the stock from $16.63 to $18.00 in a research report on Friday, June 3rd. They noted that the move was a valuation call. Barclays PLC initiated coverage on shares of NGL Energy Partners in a research report on Wednesday, April 13th. They issued an “equal weight” rating and a $8.00 target price for the company. Finally, Bank of America Corp. raised shares of NGL Energy Partners from an “underperform” rating to a “neutral” rating in a research report on Friday, April 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. NGL Energy Partners has a consensus rating of “Hold” and an average price target of $13.50.

The firm has a 50-day moving average of $18.84 and a 200 day moving average of $12.35. The stock’s market capitalization is $1.97 billion.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings results on Friday, May 27th. The company reported ($1.99) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by $2.53. On average, analysts expect that NGL Energy Partners LP will post $1.18 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Thursday, August 4th will be issued a dividend of $0.39 per share. The ex-dividend date is Tuesday, August 2nd. This represents a $1.56 annualized dividend and a dividend yield of 8.26%.

In other news, President James J. Burke sold 13,070 shares of NGL Energy Partners stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $18.31, for a total value of $239,311.70. Following the sale, the president now owns 169,815 shares in the company, valued at $3,109,312.65. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Lawrence J. Thuillier sold 4,256 shares of NGL Energy Partners stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $18.47, for a total transaction of $78,608.32. Following the completion of the sale, the chief accounting officer now owns 25,744 shares in the company, valued at approximately $475,491.68. The disclosure for this sale can be found here.

Other hedge funds recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in NGL Energy Partners by 2.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 97,819 shares of the company’s stock valued at $1,080,000 after buying an additional 2,230 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in NGL Energy Partners by 13.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,478,553 shares of the company’s stock valued at $16,323,000 after buying an additional 176,054 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in NGL Energy Partners by 6.7% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 127,200 shares of the company’s stock valued at $1,404,000 after buying an additional 8,000 shares in the last quarter. Atlantic Trust Group LLC increased its position in NGL Energy Partners by 136.1% in the fourth quarter. Atlantic Trust Group LLC now owns 367,530 shares of the company’s stock valued at $4,057,000 after buying an additional 211,830 shares in the last quarter. Finally, Morgan Stanley increased its position in NGL Energy Partners by 27.6% in the fourth quarter. Morgan Stanley now owns 2,188,227 shares of the company’s stock valued at $24,158,000 after buying an additional 473,736 shares in the last quarter.

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