Ngl Energy Partners Lp (NYSE:NGL) Lowered to Sell at BidaskClub
BidaskClub downgraded shares of Ngl Energy Partners Lp (NYSE:NGL) from a hold rating to a sell rating in a research note issued to investors on Wednesday, July 12th.
A number of other research firms have also recently weighed in on NGL. Stifel Nicolaus restated a hold rating and issued a $13.00 price target (down previously from $15.00) on shares of Ngl Energy Partners Lp in a research note on Friday, June 16th. FBR & Co dropped their price target on Ngl Energy Partners Lp from $22.00 to $19.00 and set a mkt perform rating on the stock in a research note on Thursday, June 8th. Zacks Investment Research upgraded Ngl Energy Partners Lp from a strong sell rating to a hold rating in a research note on Tuesday, April 18th. ValuEngine cut Ngl Energy Partners Lp from a hold rating to a sell rating in a research note on Friday, June 2nd. Finally, Royal Bank Of Canada lowered their price objective on Ngl Energy Partners Lp from $27.00 to $24.00 and set an outperform rating on the stock in a research report on Tuesday, April 25th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Ngl Energy Partners Lp presently has an average rating of Hold and a consensus target price of $20.00.
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Ngl Energy Partners Lp (NYSE:NGL) opened at 10.30 on Wednesday. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 10.84 and a beta of 0.50. Ngl Energy Partners Lp has a 12 month low of $9.82 and a 12 month high of $25.80. The company’s 50-day moving average is $12.96 and its 200-day moving average is $18.33.
Ngl Energy Partners Lp (NYSE:NGL) last posted its quarterly earnings results on Thursday, May 25th. The oil and gas company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. Ngl Energy Partners Lp had a return on equity of 6.78% and a net margin of 1.05%. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $2.77 billion. On average, equities research analysts anticipate that Ngl Energy Partners Lp will post $0.23 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Friday, August 4th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 15.92%. The ex-dividend date of this dividend is Wednesday, August 2nd. Ngl Energy Partners Lp’s dividend payout ratio (DPR) is currently 210.81%.
In other news, Director Highstar Capital Iv, L.P. sold 25,000 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $12.60, for a total transaction of $315,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 477,653 shares of company stock worth $6,541,910.
Several hedge funds have recently added to or reduced their stakes in the company. Ballentine Partners LLC bought a new stake in Ngl Energy Partners Lp during the second quarter valued at about $431,000. Proficio Capital Partners LLC raised its stake in Ngl Energy Partners Lp by 68.9% in the second quarter. Proficio Capital Partners LLC now owns 16,990 shares of the oil and gas company’s stock valued at $208,000 after buying an additional 6,932 shares during the period. Alps Advisors Inc. raised its stake in Ngl Energy Partners Lp by 5.5% in the second quarter. Alps Advisors Inc. now owns 8,150,982 shares of the oil and gas company’s stock valued at $114,114,000 after buying an additional 427,126 shares during the period. SG Americas Securities LLC acquired a new stake in Ngl Energy Partners Lp during the second quarter valued at $1,764,000. Finally, Duff & Phelps Investment Management Co. raised its stake in Ngl Energy Partners Lp by 86.8% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,560,000 shares of the oil and gas company’s stock valued at $21,840,000 after buying an additional 725,000 shares during the period. 75.83% of the stock is currently owned by institutional investors.
Ngl Energy Partners Lp 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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