NGL ENERGY PARTNERS LP (NYSE:NGL) had its price target reduced by FBR & Co from $29.00 to $28.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has an “outperform” rating on the stock. FBR & Co’s price target would indicate a potential upside of 17.15% from the stock’s current price.
NGL has been the topic of a number of other research reports. Zacks Investment Research raised shares of NGL ENERGY PARTNERS from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 10th. Stifel Nicolaus dropped their price objective on shares of NGL ENERGY PARTNERS from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, November 30th. RBC Capital Markets reissued a “buy” rating and set a $21.00 price objective on shares of NGL ENERGY PARTNERS in a research note on Friday, January 6th. Raymond James Financial, Inc. raised shares of NGL ENERGY PARTNERS from a “market perform” rating to an “outperform” rating and set a $24.00 price objective on the stock in a research note on Thursday, January 12th. Finally, TheStreet raised shares of NGL ENERGY PARTNERS from a “d+” rating to a “c-” rating in a research note on Thursday, January 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $19.67.
Shares of NGL ENERGY PARTNERS (NYSE:NGL) opened at 23.90 on Wednesday. The stock’s 50 day moving average is $23.12 and its 200 day moving average is $19.62. The stock’s market cap is $2.63 billion. NGL ENERGY PARTNERS has a 52 week low of $6.52 and a 52 week high of $25.80.
NGL ENERGY PARTNERS (NYSE:NGL) last announced its earnings results on Tuesday, February 7th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by $0.48. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.09 billion. NGL ENERGY PARTNERS had a negative net margin of 0.85% and a positive return on equity of 9.99%. On average, equities analysts forecast that NGL ENERGY PARTNERS will post $1.99 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 14th. Stockholders of record on Friday, February 3rd were paid a $0.39 dividend. The ex-dividend date was Wednesday, February 1st. This represents a $1.56 annualized dividend and a dividend yield of 6.53%. NGL ENERGY PARTNERS’s dividend payout ratio is presently -112.23%.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its position in NGL ENERGY PARTNERS by 6.4% in the third quarter. Wells Fargo & Company MN now owns 305,944 shares of the company’s stock valued at $5,764,000 after buying an additional 18,417 shares during the last quarter. Harvest Fund Advisors LLC boosted its position in NGL ENERGY PARTNERS by 35.8% in the second quarter. Harvest Fund Advisors LLC now owns 4,767,360 shares of the company’s stock valued at $92,105,000 after buying an additional 1,257,166 shares during the last quarter. ELCO Management Co. LLC bought a new position in NGL ENERGY PARTNERS during the third quarter valued at $3,534,000. Alps Advisors Inc. boosted its position in NGL ENERGY PARTNERS by 3.8% in the third quarter. Alps Advisors Inc. now owns 6,122,006 shares of the company’s stock valued at $115,339,000 after buying an additional 226,076 shares during the last quarter. Finally, Spirit of America Management Corp NY boosted its position in NGL ENERGY PARTNERS by 5.5% in the third quarter. Spirit of America Management Corp NY now owns 264,168 shares of the company’s stock valued at $4,977,000 after buying an additional 13,700 shares during the last quarter. 68.69% of the stock is owned by hedge funds and other institutional investors.
About NGL ENERGY PARTNERS
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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