Ngl Energy Partners Lp (NGL) Earns Hold Rating from Stifel Nicolaus

Stifel Nicolaus restated their hold rating on shares of Ngl Energy Partners Lp (NYSE:NGL) in a report released on Sunday morning. They currently have a $10.00 target price on the oil and gas company’s stock.

Several other equities analysts have also issued reports on NGL. BidaskClub lowered shares of Ngl Energy Partners Lp from a sell rating to a strong sell rating in a report on Thursday, July 27th. UBS AG lowered their target price on shares of Ngl Energy Partners Lp from $18.00 to $14.00 and set a buy rating for the company in a report on Friday, August 4th. TheStreet lowered shares of Ngl Energy Partners Lp from a c- rating to a d+ rating in a report on Tuesday, August 15th. Zacks Investment Research lowered shares of Ngl Energy Partners Lp from a hold rating to a strong sell rating in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada lowered their target price on shares of Ngl Energy Partners Lp from $20.00 to $14.00 and set an outperform rating for the company in a report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Ngl Energy Partners Lp has a consensus rating of Hold and an average target price of $17.17.

Ngl Energy Partners Lp (NYSE:NGL) last released its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.59) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.21). Ngl Energy Partners Lp had a negative net margin of 0.73% and a negative return on equity of 5.00%. The business had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $2.59 billion.

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The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Monday, November 6th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 13.39%. The ex-dividend date of this dividend is Friday, November 3rd. Ngl Energy Partners Lp’s dividend payout ratio (DPR) is currently -124.80%.

Ngl Energy Partners Lp announced that its Board of Directors has authorized a stock buyback plan on Tuesday, August 29th that permits the company to buyback $15.00 million in shares. This buyback authorization permits the oil and gas company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

In other news, CEO H Michael Krimbill purchased 75,000 shares of Ngl Energy Partners Lp stock in a transaction that occurred on Monday, September 11th. The stock was bought at an average price of $8.86 per share, with a total value of $664,500.00. Following the completion of the transaction, the chief executive officer now directly owns 814,417 shares of the company’s stock, valued at $7,215,734.62. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its position in shares of Ngl Energy Partners Lp by 20.2% during the second quarter. Goldman Sachs Group Inc. now owns 3,073,412 shares of the oil and gas company’s stock valued at $43,028,000 after acquiring an additional 515,730 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Ngl Energy Partners Lp by 2.0% during the first quarter. California Public Employees Retirement System now owns 253,900 shares of the oil and gas company’s stock valued at $5,738,000 after acquiring an additional 5,100 shares in the last quarter. NBW Capital LLC increased its position in shares of Ngl Energy Partners Lp by 2.4% during the second quarter. NBW Capital LLC now owns 400,541 shares of the oil and gas company’s stock valued at $5,608,000 after acquiring an additional 9,218 shares in the last quarter. Bank of Montreal Can increased its position in shares of Ngl Energy Partners Lp by 115.7% during the second quarter. Bank of Montreal Can now owns 2,116,200 shares of the oil and gas company’s stock valued at $29,627,000 after acquiring an additional 1,134,957 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Ngl Energy Partners Lp by 22.5% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,279,654 shares of the oil and gas company’s stock valued at $31,915,000 after acquiring an additional 418,110 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Ngl Energy Partners Lp Company Profile

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.

Analyst Recommendations for Ngl Energy Partners Lp (NYSE:NGL)

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