NGL Energy Partners LP (NGL) Trading 2% Higher
NGL Energy Partners LP (NYSE:NGL) shares traded up 2% on Friday . The stock traded as high as $18.57 and last traded at $18.52, with a volume of 235,169 shares traded. The stock had previously closed at $18.15.
Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of NGL Energy Partners from a “sell” rating to a “hold” rating in a research report 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 report on Friday, April 22nd. Wunderlich upgraded shares of NGL Energy Partners from a “hold” rating to a “buy” rating and upped their price target for the stock from $13.00 to $20.00 in a research report on Monday, June 13th. Finally, Stifel Nicolaus upped their price objective 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 investment analysts have rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. NGL Energy Partners currently has an average rating of “Hold” and an average price target of $13.63.
The firm’s 50 day moving average is $18.68 and its 200-day moving average is $13.35. The stock’s market capitalization is $1.95 billion.
NGL Energy Partners (NYSE:NGL) last issued its earnings results on Thursday, August 4th. The company reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $1.50. The firm earned $2.72 billion during the quarter, compared to analysts’ expectations of $2.48 billion. Equities analysts forecast that NGL Energy Partners LP will post $1.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Thursday, August 4th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 8.44%. The ex-dividend date was Tuesday, August 2nd.
In related news, CAO Lawrence J. Thuillier sold 4,256 shares of the firm’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 $78,608.32. Following the completion of the sale, the chief accounting officer now owns 25,744 shares in the company, valued at $475,491.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert W. Karlovich III sold 10,680 shares of the firm’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $18.47, for a total transaction of $197,259.60. Following the completion of the sale, the chief financial officer now owns 64,320 shares of the company’s stock, 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 disclosure with the SEC. The institutional investor owned 2,188,227 shares of the company’s stock after buying an additional 473,736 shares during the period. Morgan Stanley owned about 2.05% of NGL Energy Partners worth $24,158,000 at the end of the most recent reporting period.
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