NGL Energy Partners PT Raised to $49.00 at Wunderlich (NGL)
Research analysts at Wunderlich lifted their target price on shares of NGL Energy Partners (NYSE:NGL) from $44.00 to $49.00 in a report released on Wednesday. The firm currently has a “buy” rating on the stock. Wunderlich’s target price points to a potential upside of 18.44% from the company’s current price.
NGL Energy Partners (NYSE:NGL) opened at 41.37 on Wednesday. NGL Energy Partners has a 1-year low of $27.75 and a 1-year high of $46.25. The stock’s 50-day moving average is $43.2 and its 200-day moving average is $39.54. The company has a market cap of $3.282 billion and a price-to-earnings ratio of 84.70. NGL Energy Partners also saw a large growth in short interest in July. As of July 31st, there was short interest totalling 2,665,830 shares, a growth of 413.0% from the July 15th total of 519,704 shares. Based on an average daily trading volume, of 537,889 shares, the short-interest ratio is presently 5.0 days. Approximately 3.6% of the shares of the stock are sold short.
NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings data on Friday, May 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by $0.01. On average, analysts predict that NGL Energy Partners will post $1.56 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Stockholders of record on Monday, August 4th will be paid a dividend of $0.5888 per share. This represents a $2.36 annualized dividend and a dividend yield of 5.69%. The ex-dividend date is Thursday, July 31st. This is a boost from NGL Energy Partners’s previous quarterly dividend of $0.55.
Several other analysts have also recently commented on the stock. Analysts at Raymond James raised their price target on shares of NGL Energy Partners from $46.00 to $47.00 in a research note on Thursday, July 3rd. Separately, analysts at RBC Capital raised their price target on shares of NGL Energy Partners from $47.00 to $50.00 in a research note on Thursday, June 19th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. NGL Energy Partners presently has an average rating of “Hold” and a consensus price target of $43.00.
In other NGL Energy Partners news, Insider Vincent J. Osterman unloaded 5,000 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $42.40, for a total value of $212,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
NGL Energy Partners LP is a limited partnership company formed to own and operate a vertically-integrated propane business.
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