NGL Energy Partners LP (NGL) Trading Up 3.1%
NGL Energy Partners LP (NYSE:NGL) shot up 3.1% during mid-day trading on Friday . The stock traded as high as $18.65 and last traded at $18.56, with a volume of 462,401 shares trading hands. The stock had previously closed at $18.01.
Several equities research analysts recently weighed in on NGL shares. Stifel Nicolaus lifted their target price on NGL Energy Partners from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, August 5th. Zacks Investment Research upgraded NGL Energy Partners from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Thursday, August 4th. Finally, Wunderlich upgraded NGL Energy Partners from a “hold” rating to a “buy” rating and lifted their price target for the company from $13.00 to $20.00 in a research report on Monday, June 13th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $13.63.
The firm has a 50 day moving average of $18.45 and a 200 day moving average of $14.02. The stock’s market cap is $1.94 billion.
NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings results 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 company earned $2.72 billion during the quarter, compared to analysts’ expectations of $2.48 billion. Equities analysts predict that NGL Energy Partners LP will post $1.24 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Thursday, August 4th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 8.49%. The ex-dividend date of this dividend was Tuesday, August 2nd.
In related news, CFO Robert W. Karlovich III sold 10,680 shares of the stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $18.47, for a total value of $197,259.60. Following the transaction, the chief financial officer now owns 64,320 shares of the company’s stock, valued at $1,187,990.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President James J. Burke sold 13,070 shares of the stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $18.31, for a total value of $239,311.70. Following the completion of the transaction, the president now directly owns 169,815 shares in the company, valued at approximately $3,109,312.65. The disclosure for this sale can be found here.
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