NGL Energy Partners LP (NGL) Trading Down 3.3%
NGL Energy Partners LP (NYSE:NGL)’s share price was down 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 traded. The stock had previously closed at $18.34.
Several research firms have commented on NGL. Zacks Investment Research raised shares of NGL Energy Partners from a “hold” rating to a “buy” rating and set a $22.00 price target 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 increased their target price for the stock from $13.00 to $20.00 in a report on Monday, June 13th. Finally, Stifel Nicolaus increased their target price on shares of NGL Energy Partners from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $13.63.
The company has a 50 day moving average of $18.54 and a 200 day moving average of $13.62. The company’s market capitalization is $1.87 billion.
NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $1.50. The business earned $2.72 billion during the quarter, compared to analyst estimates of $2.48 billion. On average, equities research analysts expect that NGL Energy Partners LP will post $1.24 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Thursday, August 4th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 8.80%. 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 stock was sold at an average price of $18.47, for a total transaction of $78,608.32. Following the sale, the chief accounting officer now directly owns 25,744 shares in the company, valued at approximately $475,491.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President James J. Burke sold 13,070 shares of the firm’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $18.31, for a total value of $239,311.70. Following the sale, the president now owns 169,815 shares in the company, valued at $3,109,312.65. The disclosure for this sale can be found here.
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