NGL Energy Partners LP (NGL) Trading Down 4%
NGL Energy Partners LP (NYSE:NGL)’s share price dropped 4% on Monday . The stock traded as low as $18.00 and last traded at $18.06, with a volume of 343,642 shares traded. The stock had previously closed at $18.81.
NGL has been the topic of several research reports. Wunderlich raised their price target on shares of NGL Energy Partners from $7.50 to $13.50 and gave the stock a “hold” rating in a research note 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 price target on the stock in a research note on Thursday, April 28th. Stifel Nicolaus upgraded shares of NGL Energy Partners from a “hold” rating to a “buy” rating and raised their price objective 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 started coverage on shares of NGL Energy Partners in a research report on Wednesday, April 13th. They set an “equal weight” rating and a $8.00 price objective for the company. Finally, Bank of America Corp. upgraded shares of NGL Energy Partners from an “underperform” rating to a “neutral” rating in a research report on Friday, April 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $13.50.
The firm’s 50 day moving average price is $18.95 and its 200 day moving average price is $12.69. The company’s market capitalization is $1.86 billion.
NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings results on Friday, May 27th. The company reported ($1.99) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by $2.53. On average, equities analysts anticipate that NGL Energy Partners LP will post $1.18 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Thursday, August 4th will be paid a dividend of $0.39 per share. The ex-dividend date is Tuesday, August 2nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 8.76%.
In related news, CFO Robert W. Karlovich III sold 10,680 shares of the business’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $18.47, for a total value of $197,259.60. Following the sale, the chief financial officer now directly owns 64,320 shares in the company, valued at approximately $1,187,990.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President James J. Burke sold 13,070 shares of the business’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $18.31, for a total transaction of $239,311.70. Following the completion of the sale, the president now owns 169,815 shares in the company, valued at $3,109,312.65. The disclosure for this sale can be found here.
Several large investors have added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake 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. Fort Washington Investment Advisors Inc. OH raised its stake 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 raised its stake 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 raised its stake 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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