According to Zacks, “NGL Energy Partners LP is a limited partnership operating a vertically-integrated propane business with three operating segments: retail propane; wholesale supply and marketing; and midstream. The Retail Propane segment engages in retail marketing, sale, and distribution of propane, including the sale and lease of propane tanks, equipment, and supplies to residential, agricultural, commercial, and industrial customers through customer service locations. The Wholesale Supply and Marketing segment supplies propane and other natural gas liquids, as well as provides related storage to retailers, wholesalers, and refiners. The Midstream segment involves in the delivery of propane from pipelines or trucks to propane terminals and transfers the propane to third-party transport trucks for delivery to retailers, wholesalers, or other consumers. NGL Energy Partners LP is headquartered in Tulsa, Oklahoma. “
NGL has been the topic of several other research reports. FBR & Co initiated coverage on shares of NGL Energy Partners in a research report on Friday, September 9th. They set a market perform rating and a $21.00 target price on the stock. Stifel Nicolaus lifted their price target on shares of NGL Energy Partners from $18.00 to $20.00 and gave the stock a buy rating in a report on Friday, August 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. NGL Energy Partners has a consensus rating of Hold and an average target price of $14.44.
Shares of NGL Energy Partners (NYSE:NGL) opened at 19.00 on Wednesday. The company’s 50-day moving average price is $18.45 and its 200-day moving average price is $16.40. NGL Energy Partners has a 12 month low of $5.57 and a 12 month high of $20.50. The firm’s market cap is $2.00 billion.
NGL Energy Partners (NYSE:NGL) last posted its earnings results on Thursday, August 4th. The company reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $1.50. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.48 billion. On average, analysts predict that NGL Energy Partners will post $2.56 EPS for the current year.
In other NGL Energy Partners news, CEO H Michael Krimbill bought 20,000 shares of the stock in a transaction on Thursday, September 15th. The shares were acquired at an average price of $17.31 per share, with a total value of $346,200.00. Following the acquisition, the chief executive officer now directly owns 789,417 shares of the company’s stock, valued at approximately $13,664,808.27. The transaction was disclosed in a document filed with the SEC, which is available through this link.
A number of large investors have recently modified their holdings of NGL. Alps Advisors Inc. acquired a new stake in shares of NGL Energy Partners during the second quarter worth about $113,909,000. Harvest Fund Advisors LLC raised its position in NGL Energy Partners by 35.8% in the second quarter. Harvest Fund Advisors LLC now owns 4,767,360 shares of the company’s stock worth $92,105,000 after buying an additional 1,257,166 shares during the period. HITE Hedge Asset Management LLC raised its position in NGL Energy Partners by 865.4% in the second quarter. HITE Hedge Asset Management LLC now owns 1,071,778 shares of the company’s stock worth $20,707,000 after buying an additional 960,759 shares during the period. Goldman Sachs Group Inc. raised its position in NGL Energy Partners by 187.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,328,740 shares of the company’s stock worth $9,992,000 after buying an additional 867,164 shares during the period. Finally, Bank of Montreal Can purchased a new position in NGL Energy Partners during the second quarter worth approximately $7,674,000.
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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