Short Interest in NGL Energy Partners Decreases By 35.9% (NGL)
NGL Energy Partners (NYSE:NGL) was the recipient of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 898,166 shares, a decline of 35.9% from the March 14th total of 1,400,955 shares, Analyst RN reports. Currently, 1.4% of the company’s stock are short sold. Based on an average daily volume of 224,746 shares, the days-to-cover ratio is currently 4.0 days.
In other NGL Energy Partners news, Insider Vincent Osterman sold 5,000 shares of NGL Energy Partners stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $38.57, for a total value of $192,850.00. Following the completion of the sale, the insider now directly owns 30,000 shares in the company, valued at approximately $1,157,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
NGL has been the subject of a number of recent research reports. Analysts at Robert W. Baird downgraded shares of NGL Energy Partners from an “outperform” rating to a “neutral” rating in a research note on Wednesday, March 5th. They now have a $33.00 price target on the stock, down previously from $39.00. Separately, analysts at Raymond James reiterated an “outperform” rating on shares of NGL Energy Partners in a research note on Thursday, February 13th. They now have a $37.00 price target on the stock, up previously from $34.00. Finally, analysts at UBS AG raised their price target on shares of NGL Energy Partners from $39.00 to $40.00 in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $36.43.
Shares of NGL Energy Partners (NYSE:NGL) opened at 38.32 on Monday. NGL Energy Partners has a one year low of $26.52 and a one year high of $40.43. The stock has a 50-day moving average of $37.79 and a 200-day moving average of $34.56. The company has a market cap of $3.092 billion and a P/E ratio of 203.82.
NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings results on Monday, February 10th. The company reported $0.27 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.52 by $0.25. On average, analysts predict that NGL Energy Partners will post $0.77 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, May 15th. Stockholders of record on Monday, May 5th will be paid a dividend of $0.5513 per share. This represents a $2.21 annualized dividend and a dividend yield of 5.75%. The ex-dividend date is Thursday, May 1st.
NGL Energy Partners LP is a limited partnership company formed to own and operate a vertically-integrated propane business.
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