Insider Selling: David C. Kehoe Sells 30,000 Shares of NGL Energy Partners Stock (NGL)
NGL Energy Partners (NYSE:NGL) VP David C. Kehoe sold 30,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $42.47, for a total transaction of $1,274,100.00. Following the completion of the sale, the vice president now directly owns 239,815 shares of the company’s stock, valued at approximately $10,184,943. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $43.00.
NGL Energy Partners (NYSE:NGL) traded up 0.61% on Wednesday, hitting $42.80. 101,657 shares of the company’s stock traded hands. NGL Energy Partners has a 1-year low of $29.56 and a 1-year high of $46.25. The stock’s 50-day moving average is $42.79 and its 200-day moving average is $40.30. The company has a market cap of $3.830 billion and a price-to-earnings ratio of 905.11. NGL Energy Partners also was the recipient of a large drop in short interest in the month of August. As of August 15th, there was short interest totalling 190,998 shares, a drop of 92.8% from the July 31st total of 2,665,830 shares. Based on an average trading volume of 391,212 shares, the short-interest ratio is currently 0.5 days. Approximately 0.3% of the shares of the stock are short sold.
NGL Energy Partners LP is a limited partnership company formed to own and operate a vertically-integrated propane business.