Analysts Set NGL Energy Partners LP (NGL) Target Price at $14.50

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Shares of NGL Energy Partners LP (NYSE:NGL) have been assigned a consensus recommendation of “Buy” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $14.50.

Several research firms recently weighed in on NGL. ValuEngine cut shares of NGL Energy Partners from a “hold” rating to a “sell” rating in a report on Monday, September 24th. Credit Suisse Group began coverage on shares of NGL Energy Partners in a report on Thursday, October 11th. They set an “outperform” rating and a $15.00 price target on the stock. Bank of America cut their price target on shares of NGL Energy Partners from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, October 1st. Zacks Investment Research cut shares of NGL Energy Partners from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 17th. Finally, Guggenheim started coverage on shares of NGL Energy Partners in a report on Sunday, December 9th. They set a “buy” rating and a $16.00 price target on the stock.

In other NGL Energy Partners news, CEO H Michael Krimbill purchased 30,000 shares of the stock in a transaction dated Tuesday, November 27th. The shares were bought at an average price of $9.59 per share, with a total value of $287,700.00. Following the completion of the transaction, the chief executive officer now directly owns 1,131,417 shares in the company, valued at approximately $10,850,289.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Several hedge funds and other institutional investors have recently bought and sold shares of NGL. Russell Investments Group Ltd. bought a new stake in shares of NGL Energy Partners in the second quarter valued at approximately $166,000. FMR LLC raised its position in shares of NGL Energy Partners by 42.9% in the second quarter. FMR LLC now owns 209,200 shares of the oil and gas company’s stock valued at $2,615,000 after purchasing an additional 62,800 shares during the period. Renaissance Technologies LLC bought a new stake in shares of NGL Energy Partners in the second quarter valued at approximately $5,483,000. Van ECK Associates Corp raised its position in shares of NGL Energy Partners by 10.9% in the second quarter. Van ECK Associates Corp now owns 256,167 shares of the oil and gas company’s stock valued at $3,202,000 after purchasing an additional 25,128 shares during the period. Finally, Raymond James & Associates raised its position in shares of NGL Energy Partners by 9.7% in the second quarter. Raymond James & Associates now owns 84,089 shares of the oil and gas company’s stock valued at $1,051,000 after purchasing an additional 7,465 shares during the period. 62.71% of the stock is currently owned by institutional investors.

NYSE:NGL opened at $10.56 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.08 and a debt-to-equity ratio of 0.83. The stock has a market cap of $1.38 billion, a PE ratio of -15.53 and a beta of 1.03. NGL Energy Partners has a one year low of $8.71 and a one year high of $17.65.

NGL Energy Partners (NYSE:NGL) last posted its earnings results on Thursday, November 8th. The oil and gas company reported ($0.63) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.64). The business had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $4.83 billion. NGL Energy Partners had a negative return on equity of 1.57% and a net margin of 1.40%. On average, equities analysts predict that NGL Energy Partners will post -0.81 earnings per share for the current fiscal year.

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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Analyst Recommendations for NGL Energy Partners (NYSE:NGL)

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