NGL Energy Partners (NYSE:NGL) Now Covered by Piper Jaffray Companies

Piper Jaffray Companies began coverage on shares of NGL Energy Partners (NYSE:NGL) in a research report sent to investors on Wednesday, BenzingaRatingsTable reports. The firm issued a neutral rating and a $17.00 price objective on the oil and gas company’s stock. Piper Jaffray Companies also issued estimates for NGL Energy Partners’ Q1 2020 earnings at ($0.08) EPS, Q2 2020 earnings at $0.18 EPS, Q3 2020 earnings at $0.04 EPS, Q4 2020 earnings at $0.25 EPS, FY2020 earnings at $0.39 EPS, Q1 2021 earnings at $0.10 EPS, Q2 2021 earnings at $0.07 EPS, Q3 2021 earnings at $0.18 EPS, Q4 2021 earnings at $0.08 EPS, FY2021 earnings at $0.44 EPS and FY2022 earnings at $0.64 EPS.

A number of other analysts also recently issued reports on the company. Raymond James reiterated a hold rating on shares of PrairieSky Royalty in a research report on Friday, May 24th. Zacks Investment Research upgraded Icon from a hold rating to a buy rating and set a $157.00 price target for the company in a research report on Thursday, May 30th. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $15.25.

Shares of NYSE NGL opened at $15.04 on Wednesday. NGL Energy Partners has a 52 week low of $8.71 and a 52 week high of $15.71. The business has a 50-day moving average of $14.76. The company has a quick ratio of 1.08, a current ratio of 1.45 and a debt-to-equity ratio of 1.04.

NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings results on Thursday, May 30th. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.05). The business had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.71 billion. NGL Energy Partners had a net margin of 1.31% and a return on equity of 2.37%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.28) EPS. On average, equities analysts forecast that NGL Energy Partners will post 0.79 earnings per share for the current fiscal year.

In related news, Director John T. Raymond sold 176,634 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $14.88, for a total value of $2,628,313.92. Following the completion of the sale, the director now owns 50,000 shares in the company, valued at approximately $744,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO H Michael Krimbill bought 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was purchased at an average price of $14.53 per share, with a total value of $363,250.00. Following the transaction, the chief executive officer now directly owns 1,141,417 shares in the company, valued at $16,584,789.01. The disclosure for this purchase can be found here.

A number of large investors have recently added to or reduced their stakes in NGL. Flagship Harbor Advisors LLC bought a new stake in NGL Energy Partners in the 1st quarter worth approximately $28,000. Arlington Partners LLC purchased a new position in NGL Energy Partners in the 2nd quarter worth approximately $29,000. Advisory Alpha LLC purchased a new position in NGL Energy Partners in the 1st quarter worth approximately $78,000. Advisor Group Inc. increased its stake in NGL Energy Partners by 77.8% in the 4th quarter. Advisor Group Inc. now owns 10,833 shares of the oil and gas company’s stock worth $104,000 after purchasing an additional 4,739 shares during the period. Finally, Requisite Energy Fund I LP purchased a new position in NGL Energy Partners in the 4th quarter worth approximately $115,000. Institutional investors own 60.44% of the company’s stock.

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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