NGL Energy Partners LP (NGL) Receives $14.75 Consensus Price Target from Analysts
Shares of NGL Energy Partners LP (NYSE:NGL) have been given an average rating of “Hold” by the eight research firms that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $14.75.
A number of analysts have weighed in on the company. Zacks Investment Research cut NGL Energy Partners from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 17th. Credit Suisse Group cut NGL Energy Partners from an “outperform” rating to a “neutral” rating and upped their price target for the company from $14.00 to $15.00 in a research report on Wednesday, February 20th. Wells Fargo & Co reiterated a “hold” rating on shares of NGL Energy Partners in a research report on Wednesday, February 13th. Finally, ValuEngine upgraded NGL Energy Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, February 13th.
Several hedge funds have recently made changes to their positions in NGL. OppenheimerFunds Inc. grew its holdings in shares of NGL Energy Partners by 12.5% during the first quarter. OppenheimerFunds Inc. now owns 20,250,603 shares of the oil and gas company’s stock worth $284,116,000 after purchasing an additional 2,257,816 shares during the last quarter. Alps Advisors Inc. lifted its stake in NGL Energy Partners by 14.3% in the fourth quarter. Alps Advisors Inc. now owns 11,379,838 shares of the oil and gas company’s stock valued at $109,133,000 after buying an additional 1,423,122 shares during the period. Bank of Montreal Can lifted its stake in NGL Energy Partners by 681.2% in the fourth quarter. Bank of Montreal Can now owns 1,492,890 shares of the oil and gas company’s stock valued at $14,317,000 after buying an additional 1,301,794 shares during the period. JPMorgan Chase & Co. lifted its stake in NGL Energy Partners by 43.6% in the third quarter. JPMorgan Chase & Co. now owns 3,455,392 shares of the oil and gas company’s stock valued at $40,083,000 after buying an additional 1,049,863 shares during the period. Finally, Hartz Capital Inc. acquired a new position in NGL Energy Partners in the first quarter valued at about $7,988,000. Institutional investors own 64.20% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 10.55%. The ex-dividend date of this dividend was Monday, May 6th. NGL Energy Partners’s payout ratio is presently -229.41%.
About NGL Energy Partners
NGL Energy Partners LP, together with its subsidiaries, engages in the crude oil logistics, water solutions, liquids, retail propane, and refined products and renewables businesses. The Crude Oil Logistics segment purchases crude oil from producers and transports it to refineries for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs; and provides storage, terminaling, trucking, marine, and pipeline transportation services.
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