Insider Selling: NGL Energy Partners Insider Unloads 5,000 Shares of Stock (NGL)
NGL Energy Partners (NYSE:NGL) Insider Vincent J. Osterman sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $42.56, for a total value of $212,800.00. Following the sale, the insider now directly owns 31,458 shares of the company’s stock, valued at approximately $1,338,852. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
NGL Energy Partners (NYSE:NGL) remained flat at $42.50 during during mid-day trading trading on Thursday. The stock had a trading volume of 172,752 shares. NGL Energy Partners has a 52-week low of $29.56 and a 52-week high of $46.25. The stock’s 50-day moving average is $42.76 and its 200-day moving average is $40.31. The company has a market cap of $3.803 billion and a price-to-earnings ratio of 904.26. NGL Energy Partners also was the target of a large decline in short interest during the month of August. As of August 15th, there was short interest totalling 190,998 shares, a decline of 92.8% from the July 31st total of 2,665,830 shares. Based on an average daily volume of 391,212 shares, the short-interest ratio is currently 0.5 days. Approximately 0.3% of the company’s stock are short sold.
Several analysts have recently commented on the stock. 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 issued a buy rating to the company. NGL Energy Partners currently has an average rating of “Hold” and an average target price of $43.00.
NGL Energy Partners LP is a limited partnership company formed to own and operate a vertically-integrated propane business.
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