Stifel Nicolaus Reiterates “Hold” Rating for NGL ENERGY PARTNERS LP (NGL)
NGL ENERGY PARTNERS LP (NYSE:NGL)‘s stock had its “hold” rating restated by investment analysts at Stifel Nicolaus in a research report issued to clients and investors on Friday. They presently have a $13.00 target price on the oil and gas company’s stock, down from their prior target price of $15.00. Stifel Nicolaus’ price objective would suggest a potential upside of 6.12% from the company’s previous close.
Other analysts also recently issued reports about the stock. Royal Bank Of Canada dropped their price target on shares of NGL ENERGY PARTNERS from $27.00 to $24.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 25th. Zacks Investment Research downgraded shares of NGL ENERGY PARTNERS from a “hold” rating to a “strong sell” rating in a research report on Friday, February 17th. FBR & Co dropped their price target on shares of NGL ENERGY PARTNERS from $22.00 to $19.00 and set a “mkt perform” rating on the stock in a research report on Thursday, June 8th. Finally, ValuEngine downgraded shares of NGL ENERGY PARTNERS from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $21.50.
NGL ENERGY PARTNERS (NYSE NGL) opened at 12.25 on Friday. The firm’s 50-day moving average is $14.38 and its 200 day moving average is $19.88. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 12.89 and a beta of 0.49. NGL ENERGY PARTNERS has a 12 month low of $11.75 and a 12 month high of $25.80.
NGL ENERGY PARTNERS (NYSE:NGL) last released its quarterly earnings results on Thursday, May 25th. The oil and gas company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. NGL ENERGY PARTNERS had a net margin of 1.05% and a return on equity of 6.78%. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $2.77 billion. Equities analysts predict that NGL ENERGY PARTNERS will post $0.32 earnings per share for the current year.
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In other NGL ENERGY PARTNERS news, Director Highstar Capital Iv, L.P. sold 157,559 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $13.82, for a total transaction of $2,177,465.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 477,653 shares of company stock worth $6,541,910 over the last 90 days.
Several institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in shares of NGL ENERGY PARTNERS by 957.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,557,682 shares of the oil and gas company’s stock valued at $57,803,000 after buying an additional 2,315,904 shares in the last quarter. TPH Asset Management LLC acquired a new position in shares of NGL ENERGY PARTNERS during the first quarter valued at about $7,916,000. HighTower Advisors LLC boosted its position in shares of NGL ENERGY PARTNERS by 1.1% in the first quarter. HighTower Advisors LLC now owns 60,098 shares of the oil and gas company’s stock valued at $1,358,000 after buying an additional 665 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of NGL ENERGY PARTNERS by 47.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 280,000 shares of the oil and gas company’s stock valued at $6,328,000 after buying an additional 90,000 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of NGL ENERGY PARTNERS during the first quarter valued at about $312,000. 76.01% of the stock is currently owned by institutional investors.
NGL ENERGY PARTNERS Company Profile
NGL Energy Partners LP owns and operates a vertically integrated energy business. The Company’s segments are crude oil logistics, water solutions, liquids, retail propane, refined products and renewables, and corporate and other. Its crude oil logistics segment includes owned and leased crude oil storage terminals, and owned and leased pipeline injection stations.
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