NGL Energy Partners (NGL) Trading Up 5.8%

NGL Energy Partners LP (NYSE:NGL) shares were up 5.8% on Monday . The stock traded as high as $11.79 and last traded at $11.50. Approximately 2,584,935 shares changed hands during trading, an increase of 110% from the average daily volume of 1,229,355 shares. The stock had previously closed at $10.87.

Several research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of NGL Energy Partners from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 17th. Bank of America set a $15.00 price objective on shares of NGL Energy Partners and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Finally, Guggenheim assumed coverage on NGL Energy Partners in a research report on Monday, December 3rd. They set a “buy” rating and a $16.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $14.14.

The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 0.75. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -16.91 and a beta of 1.26.

NGL Energy Partners (NYSE:NGL) last released its quarterly earnings data on Thursday, November 8th. The oil and gas company reported ($0.63) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.64). NGL Energy Partners had a net margin of 1.40% and a negative return on equity of 1.57%. The company had revenue of $6.65 billion during the quarter, compared to analyst estimates of $4.83 billion. Equities research analysts anticipate that NGL Energy Partners LP will post -0.81 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 14th. Shareholders of record on Wednesday, February 6th will be issued a $0.39 dividend. The ex-dividend date is Tuesday, February 5th. This represents a $1.56 annualized dividend and a dividend yield of 13.57%. NGL Energy Partners’s dividend payout ratio is currently -229.41%.

In related news, CEO H Michael Krimbill purchased 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 27th. The shares were acquired at an average price of $9.59 per share, for a total transaction of $287,700.00. Following the purchase, the chief executive officer now owns 1,131,417 shares in the company, valued at $10,850,289.03. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Several institutional investors have recently bought and sold shares of the company. State of New Jersey Common Pension Fund D grew its holdings in NGL Energy Partners by 106.6% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 298,400 shares of the oil and gas company’s stock valued at $2,862,000 after buying an additional 154,000 shares in the last quarter. Gradient Investments LLC grew its stake in shares of NGL Energy Partners by 4,199.9% in the fourth quarter. Gradient Investments LLC now owns 42,999 shares of the oil and gas company’s stock valued at $412,000 after acquiring an additional 41,999 shares in the last quarter. MetLife Investment Advisors LLC acquired a new position in shares of NGL Energy Partners in the third quarter valued at about $2,877,000. SG Americas Securities LLC acquired a new position in shares of NGL Energy Partners in the third quarter valued at about $2,716,000. Finally, Virtus Alternative Investment Advisers Inc. acquired a new position in shares of NGL Energy Partners in the third quarter valued at about $4,814,000. 64.61% of the stock is currently owned by institutional investors.

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About NGL Energy Partners (NYSE:NGL)

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.

Further Reading: Mutual Funds

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