NGL Energy Partners LP (NGL) Trading Down 3.3%
NGL Energy Partners LP (NYSE:NGL) shares fell 3.3% on Wednesday . The company traded as low as $18.14 and last traded at $18.20, with a volume of 199,362 shares trading hands. The stock had previously closed at $18.82.
A number of brokerages recently weighed in on NGL. Zacks Investment Research upgraded shares of NGL Energy Partners from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a report on Thursday, August 11th. Stifel Nicolaus lifted their price objective on shares of NGL Energy Partners from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, August 5th. Wunderlich upgraded shares of NGL Energy Partners from a “hold” rating to a “buy” rating and lifted their price objective for the company from $13.00 to $20.00 in a report on Monday, June 13th. Finally, Bank of America Corp. upgraded shares of NGL Energy Partners from an “underperform” rating to a “neutral” rating in a report on Friday, April 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $13.63.
The company’s market capitalization is $1.94 billion. The firm has a 50 day moving average of $18.68 and a 200 day moving average of $13.35.
NGL Energy Partners (NYSE:NGL) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $1.50. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.48 billion. Analysts expect that NGL Energy Partners LP will post $1.28 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Thursday, August 4th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 8.60%. The ex-dividend date of this dividend was Tuesday, August 2nd.
In other news, CFO Robert W. Karlovich III sold 10,680 shares of the business’s 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 sale, the chief financial officer now directly owns 64,320 shares in the company, valued at $1,187,990.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Shawn W. Coady sold 13,070 shares of the business’s stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $18.47, for a total value of $241,402.90. Following the sale, the insider now owns 53,949 shares in the company, valued at $996,438.03. The disclosure for this sale can be found here.
An institutional investor recently raised its position in NGL Energy Partners stock. Morgan Stanley boosted its position in shares of NGL Energy Partners LP (NYSE:NGL) by 27.6% during the fourth quarter, according to its most recent filing with the 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 about 2.05% of NGL Energy Partners worth $24,158,000 as of its most recent SEC filing.
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