Cushing Asset Management LP raised its position in NGL Energy Partners LP (NYSE:NGL) by 20.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,184,050 shares of the oil and gas company’s stock after purchasing an additional 1,047,938 shares during the period. NGL Energy Partners accounts for 2.6% of Cushing Asset Management LP’s investment portfolio, making the stock its 11th biggest position. Cushing Asset Management LP owned about 5.11% of NGL Energy Partners worth $86,886,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Northern Trust Corp boosted its holdings in NGL Energy Partners by 3.6% in the 2nd quarter. Northern Trust Corp now owns 43,224 shares of the oil and gas company’s stock valued at $605,000 after purchasing an additional 1,515 shares during the period. California Public Employees Retirement System boosted its holdings in NGL Energy Partners by 1.9% in the 4th quarter. California Public Employees Retirement System now owns 248,400 shares of the oil and gas company’s stock valued at $3,490,000 after purchasing an additional 4,600 shares during the period. Cetera Advisor Networks LLC boosted its holdings in NGL Energy Partners by 29.2% in the 4th quarter. Cetera Advisor Networks LLC now owns 27,121 shares of the oil and gas company’s stock valued at $384,000 after purchasing an additional 6,122 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in NGL Energy Partners by 399.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,983 shares of the oil and gas company’s stock valued at $104,000 after purchasing an additional 7,183 shares during the period. Finally, Commonwealth Equity Services Inc bought a new position in NGL Energy Partners in the 3rd quarter valued at $117,000. 65.63% of the stock is owned by hedge funds and other institutional investors.
Shares of NGL Energy Partners LP (NGL) opened at $12.15 on Tuesday. NGL Energy Partners LP has a fifty-two week low of $8.57 and a fifty-two week high of $23.19. The company has a current ratio of 1.69, a quick ratio of 1.14 and a debt-to-equity ratio of 1.64. The stock has a market cap of $1,470.00, a price-to-earnings ratio of -7.11 and a beta of 1.02.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, February 6th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 12.84%. The ex-dividend date was Monday, February 5th. NGL Energy Partners’s dividend payout ratio is currently -91.23%.
Several research analysts have commented on NGL shares. ValuEngine raised shares of NGL Energy Partners from a “sell” rating to a “hold” rating in a report on Thursday, March 1st. Zacks Investment Research downgraded shares of NGL Energy Partners from a “hold” rating to a “sell” rating in a report on Friday, February 16th. Stifel Nicolaus lifted their price objective on shares of NGL Energy Partners from $10.00 to $12.00 and gave the stock a “hold” rating in a report on Tuesday, November 21st. Credit Suisse Group initiated coverage on shares of NGL Energy Partners in a report on Thursday, January 4th. They set an “outperform” rating and a $16.00 price objective for the company. Finally, UBS Group reaffirmed a “buy” rating and set a $17.00 price objective (down from $17.50) on shares of NGL Energy Partners in a report on Friday, March 2nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $16.00.
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About NGL Energy Partners
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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