NGL Energy Partners Insider Sells $212,550 in Stock (NGL)
NGL Energy Partners (NYSE:NGL) Insider Vincent J. Osterman sold 5,000 shares of NGL Energy Partners stock on the open market in a transaction dated Thursday, August 21st. The stock was sold at an average price of $42.51, for a total value of $212,550.00. Following the completion of the sale, the insider now directly owns 31,458 shares of the company’s stock, valued at approximately $1,337,280. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on NGL shares. Analysts at Wunderlich raised their price target on shares of NGL Energy Partners from $44.00 to $49.00 in a research note on Wednesday, August 13th. They now have a “buy” rating on the stock. Separately, 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. Finally, 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $43.00.
NGL Energy Partners (NYSE:NGL) traded down 1.26% during mid-day trading on Friday, hitting $42.94. The stock had a trading volume of 181,374 shares. NGL Energy Partners has a one year low of $29.54 and a one year high of $46.25. The stock has a 50-day moving average of $43.02 and a 200-day moving average of $39.85. The company has a market cap of $3.842 billion and a P/E ratio of 925.32. NGL Energy Partners also was the recipient of a significant growth in short interest in the month of 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. Approximately 3.6% of the shares of the company are short sold. Based on an average daily volume of 537,889 shares, the days-to-cover ratio is currently 5.0 days.
NGL Energy Partners (NYSE:NGL) last announced its earnings results on Friday, May 30th. The company reported $0.54 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.55 by $0.01. Analysts expect that NGL Energy Partners will post $1.20 EPS for the current fiscal year.
NGL Energy Partners LP is a limited partnership company formed to own and operate a vertically-integrated propane business.
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