Stifel Nicolaus restated their hold rating on shares of Ngl Energy Partners Lp (NYSE:NGL) in a report published on Sunday, October 29th. The brokerage currently has a $10.00 price target on the oil and gas company’s stock.
A number of other equities analysts have also recently commented on the company. BidaskClub cut Ngl Energy Partners Lp from a hold rating to a sell rating in a report on Wednesday, July 12th. Wells Fargo & Company cut Ngl Energy Partners Lp from an outperform rating to a market perform rating in a report on Monday, July 17th. Zacks Investment Research upgraded Ngl Energy Partners Lp from a sell rating to a hold rating in a research report on Tuesday, September 19th. Royal Bank Of Canada dropped their price target on Ngl Energy Partners Lp from $20.00 to $14.00 and set an outperform rating for the company in a research report on Friday, August 4th. Finally, TheStreet lowered Ngl Energy Partners Lp from a c- rating to a d+ rating in a research report on Tuesday, August 15th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Ngl Energy Partners Lp presently has a consensus rating of Hold and a consensus price target of $17.50.
Ngl Energy Partners Lp (NYSE NGL) opened at $12.25 on Friday. Ngl Energy Partners Lp has a fifty-two week low of $8.57 and a fifty-two week high of $25.80. The company has a quick ratio of 0.99, a current ratio of 1.56 and a debt-to-equity ratio of 1.69.
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The company also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th were given a dividend of $0.39 per share. The ex-dividend date was Friday, November 3rd. This represents a $1.56 annualized dividend and a dividend yield of 12.73%. Ngl Energy Partners Lp’s dividend payout ratio is currently -74.29%.
Ngl Energy Partners Lp announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 29th that authorizes the company to repurchase $15.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In related news, CEO H Michael Krimbill acquired 75,000 shares of Ngl Energy Partners Lp stock in a transaction dated Monday, September 11th. The shares were acquired at an average cost of $8.86 per share, for a total transaction of $664,500.00. Following the completion of the purchase, the chief executive officer now owns 814,417 shares in the company, valued at $7,215,734.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA raised its stake in Ngl Energy Partners Lp by 399.1% in the third quarter. BNP Paribas Arbitrage SA now owns 8,983 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 7,183 shares in the last quarter. Penserra Capital Management LLC raised its stake in Ngl Energy Partners Lp by 410.9% in the second quarter. Penserra Capital Management LLC now owns 10,151 shares of the oil and gas company’s stock valued at $141,000 after buying an additional 8,164 shares in the last quarter. Commonwealth Equity Services Inc acquired a new stake in Ngl Energy Partners Lp in the third quarter valued at $117,000. Oppenheimer Asset Management Inc. acquired a new stake in Ngl Energy Partners Lp in the first quarter valued at $312,000. Finally, Oppenheimer & Co. Inc. raised its stake in Ngl Energy Partners Lp by 32.0% in the second quarter. Oppenheimer & Co. Inc. now owns 14,450 shares of the oil and gas company’s stock valued at $202,000 after buying an additional 3,500 shares in the last quarter. Institutional investors own 61.19% of the company’s stock.
About Ngl Energy Partners Lp
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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