Ngl Energy Partners Lp (NGL) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Ngl Energy Partners Lp (NYSE:NGL) have received a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat reports. Three 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 twelve-month target price among brokers that have updated their coverage on the stock in the last year is $17.17.

NGL has been the topic of a number of recent research reports. BidaskClub lowered shares of Ngl Energy Partners Lp from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. UBS AG dropped their price objective on shares of Ngl Energy Partners Lp from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. TheStreet lowered shares of Ngl Energy Partners Lp from a “c-” rating to a “d+” rating in a research note 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 research note on Wednesday, August 2nd. Finally, Stifel Nicolaus dropped their price objective on shares of Ngl Energy Partners Lp from $13.00 to $10.00 and set a “hold” rating on the stock in a research note on Wednesday, August 16th.

Ngl Energy Partners Lp (NYSE NGL) remained flat at $8.95 during trading on Tuesday. 1,165,024 shares of the company’s stock traded hands. The company’s 50-day moving average price is $10.89 and its 200 day moving average price is $16.08. The company’s market capitalization is $1.09 billion. Ngl Energy Partners Lp has a 52-week low of $8.85 and a 52-week high of $25.80.

Ngl Energy Partners Lp (NYSE:NGL) last announced its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.59) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by $0.21. Ngl Energy Partners Lp had a negative return on equity of 5.00% and a negative net margin of 0.73%. The company had revenue of $3.78 billion for the quarter, compared to analyst estimates of $2.59 billion. Equities analysts expect that Ngl Energy Partners Lp will post $0.14 earnings per share for the current year.

Ngl Energy Partners Lp declared that its Board of Directors has initiated a share repurchase program on Tuesday, August 29th that permits the company to buyback $15.00 million in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Friday, August 4th were paid a $0.39 dividend. The ex-dividend date was Wednesday, August 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 17.43%. Ngl Energy Partners Lp’s dividend payout ratio is presently -124.80%.

In other news, Director Highstar Capital Iv, L.P. sold 157,559 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $13.82, for a total transaction of $2,177,465.38. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 277,653 shares of company stock worth $3,801,910.

Several institutional investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its stake in shares of Ngl Energy Partners Lp by 1.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 122,535 shares of the oil and gas company’s stock worth $1,715,000 after acquiring an additional 1,231 shares during the period. NBW Capital LLC increased its stake 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 worth $5,608,000 after acquiring an additional 9,218 shares during the period. Goldman Sachs Group Inc. increased its stake 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 worth $43,028,000 after acquiring an additional 515,730 shares during the period. Virtu KCG Holdings LLC acquired a new position in shares of Ngl Energy Partners Lp during the second quarter worth about $336,000. Finally, Northern Trust Corp increased its stake in shares of Ngl Energy Partners Lp by 3.6% during the second quarter. Northern Trust Corp now owns 43,224 shares of the oil and gas company’s stock worth $605,000 after acquiring an additional 1,515 shares during the period. Institutional investors and hedge funds own 70.19% of the company’s stock.

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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.

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

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