NGL Energy Partners LP (NGL) Trading Up 3.1%
Shares of NGL Energy Partners LP (NYSE:NGL) were up 3.1% 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 analysts recently weighed in on NGL shares. Zacks Investment Research downgraded NGL Energy Partners from a “buy” rating to a “hold” rating in a report on Friday, May 13th. Stifel Nicolaus upgraded NGL Energy Partners from a “hold” rating to a “buy” rating and lifted their price objective for the company from $16.63 to $18.00 in a report on Friday, June 3rd. They noted that the move was a valuation call. Finally, Wunderlich upgraded 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. Two research analysts have rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. 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 price of $18.46 and a 200 day moving average price of $14.02. The firm’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 analyst estimates of $2.48 billion. Equities research analysts forecast that NGL Energy Partners LP will post $1.24 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Thursday, August 4th were paid a $0.39 dividend. The ex-dividend date of this dividend was Tuesday, August 2nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 8.49%.
In related news, insider Shawn W. Coady sold 13,070 shares of NGL Energy Partners stock in a transaction on 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 transaction, the insider now directly owns 53,949 shares of the company’s stock, valued at $996,438.03. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Robert W. Karlovich III sold 10,680 shares of NGL Energy Partners 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 directly owns 64,320 shares of the company’s stock, valued at $1,187,990.40. The disclosure for this sale can be found here.