Ngl Energy Partners Lp (NGL) Set to Announce Earnings on Thursday
Ngl Energy Partners Lp (NYSE:NGL) will be releasing its earnings data before the market opens on Thursday, November 2nd. Analysts expect Ngl Energy Partners Lp to post earnings of ($0.25) per share for the quarter.
Ngl Energy Partners Lp (NYSE:NGL) last announced its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.59) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.21). Ngl Energy Partners Lp had a negative net margin of 0.73% and a negative return on equity of 5.00%. The business had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $2.59 billion. On average, analysts expect Ngl Energy Partners Lp to post $-0.09 EPS for the current fiscal year and $0.15 EPS for the next fiscal year.
Ngl Energy Partners Lp (NYSE:NGL) opened at 10.60 on Thursday. Ngl Energy Partners Lp has a 52 week low of $8.57 and a 52 week high of $25.80. The stock’s market cap is $1.29 billion. The company has a 50 day moving average price of $10.91 and a 200 day moving average price of $12.96.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Monday, November 6th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.56 annualized dividend and a yield of 14.72%. Ngl Energy Partners Lp’s dividend payout ratio is currently -124.80%.
Ngl Energy Partners Lp declared that its board has initiated a stock repurchase program on Tuesday, August 29th that permits the company to buyback $15.00 million in shares. This buyback authorization permits the oil and gas company to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
Several research analysts recently issued reports on the stock. Stifel Nicolaus reissued a “hold” rating and set a $13.00 price target on shares of Ngl Energy Partners Lp in a report on Wednesday, July 19th. TheStreet cut shares of Ngl Energy Partners Lp from a “c-” rating to a “d+” rating in a report on Tuesday, August 15th. UBS Group AG cut their price target on shares of Ngl Energy Partners Lp from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, August 4th. Wells Fargo & Company cut shares of Ngl Energy Partners Lp from an “outperform” rating to a “market perform” rating in a report on Monday, July 17th. Finally, Zacks Investment Research raised shares of Ngl Energy Partners Lp from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $17.17.
In related news, CEO H Michael Krimbill bought 75,000 shares of the company’s stock in a transaction on Monday, September 11th. The stock was bought at an average cost of $8.86 per share, with a total value of $664,500.00. Following the completion of the acquisition, the chief executive officer now owns 814,417 shares in the company, valued at approximately $7,215,734.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
An institutional investor recently raised its position in Ngl Energy Partners Lp stock. Northern Trust Corp raised its stake in Ngl Energy Partners Lp (NYSE:NGL) by 3.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,224 shares of the oil and gas company’s stock after buying an additional 1,515 shares during the period. Northern Trust Corp’s holdings in Ngl Energy Partners Lp were worth $605,000 at the end of the most recent reporting period. 68.85% of the stock is currently owned by institutional investors.
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Ngl Energy Partners Lp 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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