NGL Energy Partners LP (NYSE:NGL) Sees Large Growth in Short Interest

NGL Energy Partners LP (NYSE:NGL) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 5,774,600 shares, an increase of 19.1% from the June 30th total of 4,847,400 shares. Based on an average trading volume of 667,600 shares, the days-to-cover ratio is currently 8.6 days. Currently, 5.1% of the shares of the company are short sold.

In related news, CEO H Michael Krimbill acquired 25,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were purchased at an average price of $14.53 per share, with a total value of $363,250.00. Following the completion of the purchase, the chief executive officer now directly owns 1,141,417 shares of the company’s stock, valued at $16,584,789.01. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John T. Raymond sold 176,634 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 50,000 shares in the company, valued at approximately $744,000. The disclosure for this sale can be found here.

Several large investors have recently added to or reduced their stakes in NGL. Flagship Harbor Advisors LLC purchased a new position in NGL Energy Partners during the 1st quarter valued at approximately $28,000. Arlington Partners LLC purchased a new position in NGL Energy Partners during the 2nd quarter valued at approximately $29,000. Coastal Investment Advisors Inc. purchased a new position in NGL Energy Partners during the 2nd quarter valued at approximately $44,000. Steward Partners Investment Advisory LLC purchased a new position in NGL Energy Partners during the 2nd quarter valued at approximately $54,000. Finally, Advisory Alpha LLC purchased a new position in NGL Energy Partners during the 1st quarter valued at approximately $78,000. Hedge funds and other institutional investors own 60.48% of the company’s stock.

Shares of NYSE:NGL traded down $0.55 during trading on Wednesday, hitting $13.03. 816,461 shares of the company’s stock were exchanged, compared to its average volume of 869,733. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.08 and a current ratio of 1.45. NGL Energy Partners has a 52-week low of $8.71 and a 52-week high of $15.71. The firm has a 50-day moving average of $14.80. The firm has a market capitalization of $1.73 billion, a P/E ratio of -10.34, a price-to-earnings-growth ratio of 8.66 and a beta of 1.06.

NGL Energy Partners (NYSE:NGL) last released its earnings results on Thursday, August 8th. The oil and gas company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.89). NGL Energy Partners had a negative return on equity of 1.12% and a net margin of 1.54%. The business had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $5.40 billion. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. Research analysts expect that NGL Energy Partners will post 0.79 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 11.97%. The ex-dividend date of this dividend is Tuesday, August 6th. NGL Energy Partners’s dividend payout ratio is currently -123.81%.

Several research analysts have recently commented on the company. Raymond James set a $18.00 price objective on NGL Energy Partners and gave the stock a “buy” rating in a research note on Friday, May 24th. Zacks Investment Research downgraded NGL Energy Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. UBS Group raised their price objective on NGL Energy Partners from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday. Piper Jaffray Companies assumed coverage on NGL Energy Partners in a research note on Wednesday, July 17th. They issued a “neutral” rating and a $17.00 price objective on the stock. Finally, ValuEngine downgraded NGL Energy Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. NGL Energy Partners currently has a consensus rating of “Hold” and an average target price of $15.44.

NGL Energy Partners Company Profile

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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