NGL Energy Partners LP (NYSE:NGL) Sees Significant Growth in Short Interest

NGL Energy Partners LP (NYSE:NGL) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 5,774,600 shares, an increase of 19.1% from the June 30th total of 4,847,400 shares. Based on an average daily volume of 667,600 shares, the short-interest ratio is presently 8.6 days. Currently, 5.1% of the shares of the stock are sold short.

Shares of NGL traded down $0.21 during trading hours on Tuesday, hitting $13.58. 750,898 shares of the stock were exchanged, compared to its average volume of 868,447. NGL Energy Partners has a fifty-two week low of $8.71 and a fifty-two week high of $15.71. The company has a quick ratio of 1.08, a current ratio of 1.45 and a debt-to-equity ratio of 1.04. The business’s 50-day simple moving average is $14.83. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -10.78, a P/E/G ratio of 8.66 and a beta of 1.06.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings data on Thursday, August 8th. The oil and gas company reported ($0.96) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.89). The firm had revenue of $6.64 billion for the quarter, compared to analyst estimates of $5.40 billion. NGL Energy Partners had a negative return on equity of 1.12% and a net margin of 1.54%. The company’s revenue was up 13.6% compared to the same quarter last year. As a group, equities analysts anticipate that NGL Energy Partners will post 0.79 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 11.49%. The ex-dividend date is Tuesday, August 6th. NGL Energy Partners’s payout ratio is -123.81%.

In other NGL Energy Partners news, Director John T. Raymond sold 176,634 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $14.88, for a total value of $2,628,313.92. Following the completion of the transaction, the director now directly owns 50,000 shares in the company, valued at approximately $744,000. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO H Michael Krimbill purchased 25,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was acquired at an average price of $14.53 per share, with a total value of $363,250.00. Following the completion of the transaction, the chief executive officer now owns 1,141,417 shares in the company, valued at approximately $16,584,789.01. The disclosure for this purchase can be found here.

Large investors have recently bought and sold shares of the business. Flagship Harbor Advisors LLC acquired a new stake in NGL Energy Partners in the first quarter worth $28,000. Arlington Partners LLC acquired a new stake in NGL Energy Partners in the second quarter worth $29,000. Coastal Investment Advisors Inc. acquired a new stake in NGL Energy Partners in the second quarter worth $44,000. Steward Partners Investment Advisory LLC acquired a new stake in NGL Energy Partners in the second quarter worth $54,000. Finally, Advisory Alpha LLC acquired a new stake in NGL Energy Partners in the first quarter worth $78,000. Institutional investors and hedge funds own 60.48% of the company’s stock.

Several brokerages have issued reports on NGL. ValuEngine cut shares of NGL Energy Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Piper Jaffray Companies assumed coverage on shares of NGL Energy Partners in a research report on Wednesday, July 17th. They issued a “neutral” rating and a $17.00 price target for the company. Zacks Investment Research cut shares of NGL Energy Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Raymond James set a $18.00 price objective on shares of NGL Energy Partners and gave the stock a “buy” rating in a research report on Friday, May 24th. Finally, UBS Group increased their price objective on shares of NGL Energy Partners from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. NGL Energy Partners currently has a consensus rating of “Hold” and an average target price of $15.44.

About NGL Energy Partners

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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