NGL Energy Partners LP (NGL) Sees Significant Decrease in Short Interest
NGL Energy Partners LP (NYSE:NGL) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 777,445 shares, a decline of 56.1% from the September 15th total of 1,769,604 shares. Currently, 0.9% of the shares of the company are short sold. Based on an average daily volume of 381,948 shares, the short-interest ratio is currently 2.0 days.
In related news, CEO H Michael Krimbill acquired 20,000 shares of the firm’s stock in a transaction on Thursday, September 15th. The shares were purchased at an average cost of $17.31 per share, for a total transaction of $346,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 789,417 shares in the company, valued at $13,664,808.27. The purchase was disclosed in a filing with the SEC, which is available at this link.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Spirit of America Management Corp NY increased its position in shares of 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 worth $4,977,000 after buying an additional 13,700 shares during the last quarter. Harvest Fund Advisors LLC increased its position in shares of 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 last quarter. Virtu Financial LLC acquired a new position in shares of NGL Energy Partners during the second quarter worth about $725,000. Advisory Research Inc. increased its position in shares of 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 last quarter. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of NGL Energy Partners during the second quarter worth about $659,000.
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NGL Energy Partners (NYSE:NGL) opened at 19.05 on Wednesday. The firm’s 50-day moving average price is $18.48 and its 200-day moving average price is $16.48. The stock’s market cap is $2.01 billion. NGL Energy Partners has a 12-month low of $5.57 and a 12-month high of $20.50.
NGL Energy Partners (NYSE:NGL) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. On average, equities analysts predict that NGL Energy Partners will post $2.56 EPS for the current fiscal year.
NGL has been the subject of a number of recent research reports. Zacks Investment Research raised shares of NGL Energy Partners from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Thursday, August 4th. FBR & Co initiated coverage on shares of NGL Energy Partners in a research report on Friday, September 9th. They issued a “market perform” rating and a $21.00 target price for the company. Finally, Stifel Nicolaus boosted their target price on shares of NGL Energy Partners from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. NGL Energy Partners has a consensus rating of “Hold” and an average target price of $14.44.
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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