Ngl Energy Partners Lp (NYSE:NGL) has received an average recommendation of “Hold” from the eleven research firms that are presently covering the firm, Marketbeat.com reports. Three equities research 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. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $17.50.
Several analysts have commented on NGL shares. UBS AG decreased their price objective on shares of Ngl Energy Partners Lp from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, August 4th. TheStreet cut shares of Ngl Energy Partners Lp from a “c-” rating to a “d+” rating in a research note on Tuesday, August 15th. Stifel Nicolaus restated a “hold” rating and set a $10.00 price objective on shares of Ngl Energy Partners Lp in a research note on Sunday, October 29th. Zacks Investment Research upgraded shares of Ngl Energy Partners Lp from a “sell” rating to a “hold” rating in a research note on Tuesday, September 19th. Finally, Wells Fargo & Company cut shares of Ngl Energy Partners Lp from an “outperform” rating to a “market perform” rating in a research note on Monday, July 17th.
Shares of Ngl Energy Partners Lp (NYSE NGL) traded down $0.20 during midday trading on Friday, reaching $12.70. 1,159,900 shares of the company’s stock traded hands, compared to its average volume of 915,047. The company has a quick ratio of 0.94, a current ratio of 1.56 and a debt-to-equity ratio of 1.69. Ngl Energy Partners Lp has a twelve month low of $8.57 and a twelve month high of $25.80.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Monday, November 6th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 12.28%. The ex-dividend date is Friday, November 3rd. Ngl Energy Partners Lp’s dividend payout ratio is currently -74.29%.
Ngl Energy Partners Lp announced that its Board of Directors has approved a stock repurchase program on Tuesday, August 29th that authorizes the company to repurchase $15.00 million in shares. This repurchase authorization authorizes the oil and gas company to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
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In related news, CEO H Michael Krimbill purchased 75,000 shares of the business’s 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 acquisition, the chief executive officer now owns 814,417 shares in the company, valued at $7,215,734.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A number of hedge funds and other institutional investors have recently modified their holdings of NGL. HITE Hedge Asset Management LLC increased its holdings in Ngl Energy Partners Lp by 414.8% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 2,818,082 shares of the oil and gas company’s stock worth $32,549,000 after acquiring an additional 2,270,714 shares in the last quarter. Bank of Montreal Can grew its holdings 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 worth $29,627,000 after buying an additional 1,134,957 shares in the last quarter. Duff & Phelps Investment Management Co. grew its holdings in shares of Ngl Energy Partners Lp by 86.8% during the second quarter. Duff & Phelps Investment Management Co. now owns 1,560,000 shares of the oil and gas company’s stock worth $21,840,000 after buying an additional 725,000 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Ngl Energy Partners Lp by 34.2% during the third quarter. JPMorgan Chase & Co. now owns 2,352,179 shares of the oil and gas company’s stock worth $25,874,000 after buying an additional 599,612 shares in the last quarter. Finally, ING Groep NV purchased a new stake in shares of Ngl Energy Partners Lp during the third quarter worth $6,272,000. 68.86% of the stock is owned by institutional investors.
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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