NGL Energy Partners (NYSE:NGL) Sees Large Volume Increase
NGL Energy Partners LP (NYSE:NGL) shares saw strong trading volume on Friday . 1,647,000 shares traded hands during trading, an increase of 89% from the previous session’s volume of 870,344 shares.The stock last traded at $14.12 and had previously closed at $12.93.
Several equities analysts have commented on the stock. Zacks Investment Research cut shares of NGL Energy Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Piper Jaffray Companies assumed coverage on shares of NGL Energy Partners in a research note on Wednesday, July 17th. They set a “neutral” rating and a $17.00 target price on the stock. ValuEngine cut shares of NGL Energy Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Raymond James set a $18.00 target price on shares of NGL Energy Partners and gave the company a “buy” rating in a research note on Friday, May 24th. Finally, UBS Group raised their target price on shares of NGL Energy Partners from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $15.75.
The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -11.21, a PEG ratio of 7.93 and a beta of 1.11. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.98 and a current ratio of 1.42. The company’s 50 day simple moving average is $13.61 and its 200 day simple moving average is $14.11.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $1.56 annualized dividend and a yield of 11.05%. NGL Energy Partners’s payout ratio is -123.81%.
In other NGL Energy Partners news, Director James M. Collingsworth acquired 6,250 shares of the stock in a transaction dated Monday, August 19th. The shares were bought at an average price of $13.25 per share, with a total value of $82,812.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO H Michael Krimbill acquired 60,000 shares of the stock in a transaction dated Friday, August 16th. The stock was acquired at an average cost of $12.72 per share, for a total transaction of $763,200.00. The disclosure for this purchase can be found here.
Several institutional investors and hedge funds have recently made changes to their positions in the company. CWM Advisors LLC grew its stake in shares of NGL Energy Partners by 8.3% in the 2nd quarter. CWM Advisors LLC now owns 11,960 shares of the oil and gas company’s stock worth $177,000 after purchasing an additional 920 shares during the last quarter. First Republic Investment Management Inc. grew its stake in shares of NGL Energy Partners by 3.6% in the 2nd quarter. First Republic Investment Management Inc. now owns 55,544 shares of the oil and gas company’s stock worth $820,000 after purchasing an additional 1,911 shares during the last quarter. Arlington Partners LLC acquired a new position in shares of NGL Energy Partners in the 2nd quarter worth approximately $29,000. Cetera Advisor Networks LLC grew its stake in shares of NGL Energy Partners by 10.9% in the 1st quarter. Cetera Advisor Networks LLC now owns 28,200 shares of the oil and gas company’s stock worth $397,000 after purchasing an additional 2,767 shares during the last quarter. Finally, Coastal Investment Advisors Inc. acquired a new position in shares of NGL Energy Partners in the 2nd quarter worth approximately $44,000. 76.97% of the stock is currently owned by institutional investors.
NGL Energy Partners Company Profile (NYSE:NGL)
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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