NGL Energy Partners LP (NGL) Given Consensus Recommendation of “Hold” by Analysts
Shares of NGL Energy Partners LP (NYSE:NGL) have received an average recommendation of “Hold” from the ten ratings firms that are currently covering the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $14.33.
Several equities analysts have commented on the stock. Zacks Investment Research upgraded shares of NGL Energy Partners from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Thursday, June 30th. FBR & Co started coverage on shares of NGL Energy Partners in a research report on Friday, September 9th. They set a “market perform” rating and a $21.00 price objective for the company. Finally, Stifel Nicolaus raised their target price on shares of NGL Energy Partners from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, August 5th.
NGL Energy Partners (NYSE:NGL) traded down 0.68% during midday trading on Monday, reaching $18.97. 215,110 shares of the company traded hands. The company has a 50 day moving average price of $18.41 and a 200-day moving average price of $16.19. The stock’s market capitalization is $2.00 billion. NGL Energy Partners has a one year low of $5.57 and a one year high of $20.50.
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NGL Energy Partners (NYSE:NGL) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $1.50. The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.48 billion. Analysts forecast that NGL Energy Partners will post $2.56 EPS for the current fiscal year.
In related news, CEO H Michael Krimbill purchased 20,000 shares of NGL Energy Partners stock in a transaction that occurred on Thursday, September 15th. The shares were bought at an average price of $17.31 per share, with a total value of $346,200.00. Following the purchase, the chief executive officer now directly owns 789,417 shares of the company’s stock, valued at approximately $13,664,808.27. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Spirit of America Management Corp NY increased its position in NGL Energy Partners by 5.5% in the third quarter. Spirit of America Management Corp NY now owns 264,168 shares of the company’s stock valued at $4,977,000 after buying an additional 13,700 shares in the last quarter. Harvest Fund Advisors LLC increased its position in NGL Energy Partners by 35.8% in the second quarter. Harvest Fund Advisors LLC now owns 4,767,360 shares of the company’s stock worth $92,105,000 after buying an additional 1,257,166 shares during the period. Virtu Financial LLC acquired a new position in NGL Energy Partners during the second quarter worth approximately $725,000. Advisory Research Inc. increased its position in NGL Energy Partners by 16.1% in the second quarter. Advisory Research Inc. now owns 1,945,933 shares of the company’s stock worth $37,595,000 after buying an additional 270,530 shares during the period. Finally, Landscape Capital Management L.L.C. acquired a new position in NGL Energy Partners during the second quarter worth approximately $659,000.
NGL Energy Partners Company Profile
NGL Energy Partners LP owns and operates a vertically integrated energy business. The Company’s segments are crude oil logistics, water solutions, liquids, retail propane, refined products and renewables, and corporate and other. Its crude oil logistics segment includes owned and leased crude oil storage terminals, and owned and leased pipeline injection stations.
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