Analysts Set Ngl Energy Partners Lp (NGL) PT at $17.00

Ngl Energy Partners Lp (NYSE:NGL) has been assigned a consensus rating of “Hold” from the ten brokerages that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $17.00.

NGL has been the subject of a number of recent analyst reports. Stifel Nicolaus lifted their price objective on shares of Ngl Energy Partners from $10.00 to $12.00 and gave the company a “hold” rating in a report on Tuesday, November 21st. Zacks Investment Research cut shares of Ngl Energy Partners from a “hold” rating to a “sell” rating in a report on Friday, November 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $16.00 price objective (up previously from $14.00) on shares of Ngl Energy Partners in a report on Tuesday, November 7th. Finally, TheStreet cut shares of Ngl Energy Partners from a “c-” rating to a “d+” rating in a report on Tuesday, August 15th.

In related news, CFO Robert W. Karlovich III bought 10,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was acquired at an average price of $11.66 per share, with a total value of $116,600.00. Following the completion of the purchase, the chief financial officer now directly owns 99,320 shares of the company’s stock, valued at $1,158,071.20. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its stake in shares of Ngl Energy Partners by 399.1% during the third quarter. BNP Paribas Arbitrage SA now owns 8,983 shares of the oil and gas company’s stock worth $104,000 after purchasing an additional 7,183 shares in the last quarter. Penserra Capital Management LLC grew its stake in Ngl Energy Partners by 410.9% during the 2nd quarter. Penserra Capital Management LLC now owns 10,151 shares of the oil and gas company’s stock valued at $141,000 after acquiring an additional 8,164 shares in the last quarter. Commonwealth Equity Services Inc purchased a new stake in Ngl Energy Partners during the 3rd quarter valued at about $117,000. Oppenheimer & Co. Inc. grew its stake in Ngl Energy Partners by 32.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,450 shares of the oil and gas company’s stock valued at $202,000 after acquiring an additional 3,500 shares in the last quarter. Finally, HAP Trading LLC purchased a new stake in Ngl Energy Partners during the 2nd quarter valued at about $221,000. 63.84% of the stock is owned by institutional investors and hedge funds.

Ngl Energy Partners (NYSE NGL) traded up $0.35 on Thursday, reaching $14.60. 1,530,194 shares of the company’s stock were exchanged, compared to its average volume of 976,011. Ngl Energy Partners has a one year low of $8.57 and a one year high of $25.80. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.56 and a quick ratio of 0.99.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 10.68%. Ngl Energy Partners’s dividend payout ratio is currently -74.29%.

Ngl Energy Partners announced that its board has approved a share repurchase program on Tuesday, August 29th that authorizes the company to buyback $15.00 million in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

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Ngl Energy Partners 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.

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