NGL ENERGY PARTNERS LP (NGL) Sees Significant Drop in Short Interest
NGL ENERGY PARTNERS LP (NYSE:NGL) was the recipient of a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 1,397,982 shares, a decrease of 53.6% from the May 15th total of 3,013,269 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average trading volume of 1,155,971 shares, the days-to-cover ratio is presently 1.2 days.
Shares of NGL ENERGY PARTNERS (NYSE NGL) opened at 12.20 on Friday. NGL ENERGY PARTNERS has a 52-week low of $11.75 and a 52-week high of $25.80. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 12.84 and a beta of 0.49. The company’s 50-day moving average is $14.49 and its 200 day moving average is $19.90.
NGL ENERGY PARTNERS (NYSE:NGL) last posted its quarterly earnings results on Thursday, May 25th. The oil and gas company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.03. NGL ENERGY PARTNERS had a net margin of 1.05% and a return on equity of 6.78%. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $2.77 billion. On average, analysts expect that NGL ENERGY PARTNERS will post $0.32 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on NGL shares. Zacks Investment Research lowered shares of NGL ENERGY PARTNERS from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. FBR & Co lowered shares of NGL ENERGY PARTNERS from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $28.00 to $22.00 in a research note on Tuesday, April 25th. Royal Bank Of Canada cut their price objective on shares of NGL ENERGY PARTNERS from $27.00 to $24.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 25th. ValuEngine lowered shares of NGL ENERGY PARTNERS from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $13.00 price objective (down previously from $15.00) on shares of NGL ENERGY PARTNERS in a research note on Friday. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.50.
In other news, Director Highstar Capital Iv, L.P. sold 200,000 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $13.70, for a total value of $2,740,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 477,653 shares of company stock worth $6,541,910 in the last quarter.
Several institutional investors have recently bought and sold shares of NGL. Goldman Sachs Group Inc. boosted its position in NGL ENERGY PARTNERS by 957.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,557,682 shares of the oil and gas company’s stock worth $57,803,000 after buying an additional 2,315,904 shares during the period. TPH Asset Management LLC bought a new position in NGL ENERGY PARTNERS during the first quarter worth $7,916,000. HighTower Advisors LLC boosted its position in NGL ENERGY PARTNERS by 1.1% in the first quarter. HighTower Advisors LLC now owns 60,098 shares of the oil and gas company’s stock worth $1,358,000 after buying an additional 665 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in NGL ENERGY PARTNERS by 47.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 280,000 shares of the oil and gas company’s stock worth $6,328,000 after buying an additional 90,000 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new position in NGL ENERGY PARTNERS during the first quarter worth $312,000. 76.01% of the stock is currently owned by institutional investors and hedge funds.
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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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