Brokerages Set NGL Energy Partners LP (NGL) Target Price at $14.33

Shares of NGL Energy Partners LP (NYSE:NGL) have been given an average rating of “Buy” by the nine analysts that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $14.33.

Several analysts have recently weighed in on the company. ValuEngine lowered NGL Energy Partners from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. TheStreet raised NGL Energy Partners from a “d+” rating to a “c-” rating in a report on Monday, June 25th. Zacks Investment Research lowered NGL Energy Partners from a “buy” rating to a “hold” rating in a report on Thursday, June 14th. Wells Fargo & Co decreased their price objective on NGL Energy Partners from $14.00 to $11.00 and set a “market perform” rating on the stock in a report on Monday, September 24th. Finally, Bank of America assumed coverage on NGL Energy Partners in a report on Tuesday, July 10th. They set a “buy” rating and a $15.00 price objective on the stock.

In related news, Director John T. Raymond purchased 50,000 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were acquired at an average price of $11.04 per share, with a total value of $552,000.00. Following the purchase, the director now directly owns 50,000 shares in the company, valued at $552,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO H Michael Krimbill purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The stock was bought at an average cost of $11.65 per share, for a total transaction of $233,000.00. The disclosure for this purchase can be found here.

A number of hedge funds have recently made changes to their positions in NGL. Hilltop Holdings Inc. bought a new position in NGL Energy Partners in the 1st quarter valued at $121,000. Kayne Anderson Capital Advisors LP bought a new position in NGL Energy Partners in the 2nd quarter valued at $125,000. Russell Investments Group Ltd. bought a new position in NGL Energy Partners in the 2nd quarter valued at $166,000. Centaurus Financial Inc. bought a new position in NGL Energy Partners in the 2nd quarter valued at $246,000. Finally, BNP Paribas Arbitrage SA raised its position in NGL Energy Partners by 70.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 24,106 shares of the oil and gas company’s stock valued at $265,000 after purchasing an additional 9,986 shares during the last quarter. 63.34% of the stock is currently owned by institutional investors and hedge funds.

NYSE NGL traded up $0.15 during trading on Wednesday, hitting $11.31. The company’s stock had a trading volume of 5,842 shares, compared to its average volume of 811,249. The company has a quick ratio of 1.59, a current ratio of 2.14 and a debt-to-equity ratio of 1.63. The company has a market cap of $1.42 billion, a P/E ratio of -16.54 and a beta of 1.16. NGL Energy Partners has a 52 week low of $10.00 and a 52 week high of $17.65.

NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings results on Tuesday, August 7th. The oil and gas company reported ($1.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.93). The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $4.53 billion. NGL Energy Partners had a negative return on equity of 0.54% and a negative net margin of 1.01%. Sell-side analysts expect that NGL Energy Partners will post -0.44 earnings per share for the current fiscal year.

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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Analyst Recommendations for NGL Energy Partners (NYSE:NGL)

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