NGL Energy Partners (NYSE:NGL) posted its quarterly earnings results on Thursday. The oil and gas company reported ($0.63) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.64), Fidelity Earnings reports. The business had revenue of $6.65 billion during the quarter, compared to analyst estimates of $4.83 billion. NGL Energy Partners had a negative return on equity of 0.54% and a negative net margin of 1.01%.
Shares of NGL stock traded down $0.20 on Friday, reaching $10.31. 1,057,700 shares of the stock were exchanged, compared to its average volume of 1,088,172. The company has a current ratio of 2.14, a quick ratio of 1.59 and a debt-to-equity ratio of 1.63. The company has a market cap of $1.35 billion, a P/E ratio of -15.16 and a beta of 1.32. NGL Energy Partners has a twelve month low of $9.33 and a twelve month high of $17.65.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Thursday, November 8th will be paid a dividend of $0.39 per share. The ex-dividend date is Wednesday, November 7th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 15.13%. NGL Energy Partners’s payout ratio is currently -229.41%.
NGL has been the subject of several research reports. Credit Suisse Group started coverage on shares of NGL Energy Partners in a research note on Thursday, October 11th. They issued an “outperform” rating and a $15.00 price target for the company. Wells Fargo & Co lowered their target price on shares of NGL Energy Partners from $15.00 to $14.00 and set a “market perform” rating for the company in a research note on Thursday, September 13th. Bank of America lowered their target price on shares of NGL Energy Partners from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, October 1st. ValuEngine upgraded shares of NGL Energy Partners from a “sell” rating to a “hold” rating in a research note on Sunday, September 30th. Finally, Zacks Investment Research downgraded shares of NGL Energy Partners from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $14.00.
In other news, Director John T. Raymond bought 50,000 shares of the stock in a transaction that occurred on Friday, September 14th. The stock was purchased at an average price of $11.04 per share, for a total transaction of $552,000.00. Following the completion of the purchase, the director now owns 50,000 shares in the company, valued at approximately $552,000. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO H Michael Krimbill bought 20,000 shares of the stock in a transaction that occurred on Friday, August 31st. The shares were purchased at an average price of $11.65 per share, with a total value of $233,000.00. The disclosure for this purchase can be found here.
NGL Energy Partners Company Profile
NGL Energy Partners LP, together with its subsidiaries, engages in the crude oil logistics, water solutions, liquids, retail propane, and refined products and renewables businesses. The Crude Oil Logistics segment purchases crude oil from producers and transports it to refineries for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs; and provides storage, terminaling, trucking, marine, and pipeline transportation services.
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