NGL Energy Partners Given Consensus Rating of “Buy” by Brokerages (NYSE:NGL)
Shares of NGL Energy Partners (NYSE:NGL) have been given an average recommendation of “Buy” by the nine analysts that are currently covering the stock, American Banking News reports. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $35.91.
NGL Energy Partners (NYSE:NGL) traded down 0.92% during mid-day trading on Thursday, hitting $38.59. 29,642 shares of the company’s stock traded hands. NGL Energy Partners has a 52 week low of $26.52 and a 52 week high of $40.43. The stock’s 50-day moving average is $38.46 and its 200-day moving average is $35.23. The company has a market cap of $3.114 billion and a price-to-earnings ratio of 203.93.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, May 15th. Investors 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 5.66%. The ex-dividend date is Thursday, May 1st. This is an increase from NGL Energy Partners’s previous quarterly dividend of $0.53.
A number of research firms have recently commented on NGL. Analysts at TheStreet upgraded shares of NGL Energy Partners from a “sell” rating to a “buy” rating in a research note on Wednesday. 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.
NGL Energy Partners LP is a limited partnership company formed to own and operate a vertically-integrated propane business.
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