NGL Energy Partners Coverage Initiated by Analysts at Raymond James (NGL)
Stock analysts at Raymond James began coverage on shares of NGL Energy Partners (NYSE:NGL) in a report issued on Friday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $34.00 price target on the stock. Raymond James’ price objective would suggest a potential upside of 7.39% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs Group Inc. initiated coverage on shares of NGL Energy Partners in a research note to investors on Wednesday. They set a “neutral” rating on the stock. Separately, analysts at Deutsche Bank initiated coverage on shares of NGL Energy Partners in a research note to investors on Friday, October 11th. They set a “hold” rating and a $36.00 price target on the stock. Finally, analysts at RBC Capital raised their price target on shares of NGL Energy Partners from $30.00 to $33.00 in a research note to investors on Monday, August 19th. They now have an “outperform” rating on the stock. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $33.11.
Shares of NGL Energy Partners (NYSE:NGL) traded down 0.69% during mid-day trading on Friday, hitting $31.66. 167,143 shares of the company’s stock traded hands. NGL Energy Partners has a 1-year low of $21.19 and a 1-year high of $33.35. The stock has a 50-day moving average of $29.8 and a 200-day moving average of $28.53. The company has a market cap of $2.160 billion and a P/E ratio of 36.48.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, November 14th. Investors of record on Monday, November 4th will be paid a dividend of $0.51 per share. This represents a $2.05 dividend on an annualized basis and a yield of 6.46%. The ex-dividend date of this dividend is Thursday, October 31st. This is an increase from NGL Energy Partners’s previous quarterly dividend of $0.49.
NGL Energy Partners LP is a limited partnership company formed to own and operate a vertically-integrated propane business.
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