NGL Energy Partners LP (NGL) Shares Up 2%
NGL Energy Partners LP (NYSE:NGL)’s share price shot 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 trading hands. The stock had previously closed at $18.15.
Several brokerages have recently weighed in on NGL. Zacks Investment Research raised shares of NGL Energy Partners from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Thursday, April 28th. Wunderlich raised shares of NGL Energy Partners from a “hold” rating to a “buy” rating and raised their price target for the stock from $13.00 to $20.00 in a research report on Monday, June 13th. Finally, Stifel Nicolaus raised their price target on shares of NGL Energy Partners from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Two 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. The stock presently has a consensus rating of “Hold” and an average price target of $13.63.
The stock has a 50 day moving average price of $18.65 and a 200 day moving average price of $13.41. The stock’s market cap is $1.95 billion.
NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings data 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 firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.48 billion. Analysts predict that NGL Energy Partners LP will post $1.24 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Thursday, August 4th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 8.44%. The ex-dividend date of this dividend was Tuesday, August 2nd.
In other NGL Energy Partners news, CFO Robert W. Karlovich III sold 10,680 shares of NGL Energy Partners stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $18.47, for a total transaction of $197,259.60. Following the transaction, the chief financial officer now directly owns 64,320 shares of the company’s stock, 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 hyperlink. Also, President James J. Burke sold 13,070 shares of NGL Energy Partners stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $18.31, for a total transaction of $239,311.70. Following the transaction, the president now directly owns 169,815 shares in the company, valued at $3,109,312.65. 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 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 as of its most recent filing with the SEC.
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