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 $17.66 and last traded at $17.74, with a volume of 208,283 shares trading hands. The stock had previously closed at $18.34.
A number of research firms have weighed in on NGL. Zacks Investment Research upgraded shares of NGL Energy Partners from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Thursday, June 30th. Wunderlich upgraded shares of NGL Energy Partners from a “hold” rating to a “buy” rating and upped their price target for the company from $13.00 to $20.00 in a research note on Monday, June 13th. Finally, Stifel Nicolaus upped their price target 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 issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $13.63.
The firm has a 50 day moving average price of $18.60 and a 200-day moving average price of $13.56. The stock’s market cap is $1.87 billion.
NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of ($0.12) by $1.50. The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.48 billion. On average, equities research analysts forecast that NGL Energy Partners LP will post $1.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Investors 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 8.79%. The ex-dividend date of this dividend was Tuesday, August 2nd.
In related news, insider Shawn W. Coady sold 13,070 shares of the firm’s stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $18.47, for a total transaction of $241,402.90. Following the completion of the sale, the insider now directly owns 53,949 shares of the company’s stock, valued at approximately $996,438.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lawrence J. Thuillier sold 4,256 shares of the firm’s stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $18.47, for a total value of $78,608.32. Following the sale, the chief accounting officer now directly owns 25,744 shares of the company’s stock, valued at $475,491.68. The disclosure for this sale can be found here.
An institutional investor recently raised its position in NGL Energy Partners stock. Morgan Stanley increased its position in NGL Energy Partners LP (NYSE:NGL) by 27.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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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