NGL Energy Partners LP (NGL) Shares Down 3.3%
NGL Energy Partners LP (NYSE:NGL) shares traded down 3.3% during mid-day trading on Wednesday . The company traded as low as $18.14 and last traded at $18.20, with a volume of 199,362 shares changing hands. The stock had previously closed at $18.82.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of NGL Energy Partners from a “sell” rating to a “hold” rating in a research note on Thursday, April 21st. Bank of America Corp. upgraded shares of NGL Energy Partners from an “underperform” rating to a “neutral” rating in a research note on Friday, April 22nd. Wunderlich upgraded shares of NGL Energy Partners from a “hold” rating to a “buy” rating and lifted their target price for the company from $13.00 to $20.00 in a research note on Monday, June 13th. Finally, Stifel Nicolaus lifted their target price on shares of NGL Energy Partners from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $13.63.
The firm has a 50-day moving average of $18.75 and a 200-day moving average of $13.28. The company’s market capitalization is $1.92 billion.
NGL Energy Partners (NYSE:NGL) last announced its earnings results on Thursday, August 4th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $1.50. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.48 billion. On average, equities analysts expect that NGL Energy Partners LP will post $1.28 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Thursday, August 4th were given a dividend of $0.39 per share. The ex-dividend date was Tuesday, August 2nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 8.58%.
In other NGL Energy Partners news, President James J. Burke sold 13,070 shares of the stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $18.31, for a total transaction of $239,311.70. Following the transaction, the president now owns 169,815 shares in the company, valued at approximately $3,109,312.65. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Robert W. Karlovich III sold 10,680 shares of the stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $18.47, for a total transaction of $197,259.60. Following the transaction, the chief financial officer now owns 64,320 shares in the company, valued at approximately $1,187,990.40. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in NGL Energy Partners stock. Morgan Stanley raised its position in NGL Energy Partners LP (NYSE:NGL) by 27.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,188,227 shares of the company’s stock after buying an additional 473,736 shares during the period. Morgan Stanley owned approximately 2.05% of NGL Energy Partners worth $24,158,000 at the end of the most recent quarter.
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