Greenwich Investment Management Inc. decreased its position in NGL Energy Partners LP (NYSE:NGL) by 85.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,950 shares of the oil and gas company’s stock after selling 174,896 shares during the quarter. Greenwich Investment Management Inc.’s holdings in NGL Energy Partners were worth $428,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in NGL. OppenheimerFunds Inc. raised its position in shares of NGL Energy Partners by 12.5% in the first quarter. OppenheimerFunds Inc. now owns 20,250,603 shares of the oil and gas company’s stock valued at $284,116,000 after purchasing an additional 2,257,816 shares during the period. Hartz Capital Inc. bought a new position in shares of NGL Energy Partners in the first quarter valued at approximately $7,988,000. Bank of Montreal Can raised its position in shares of NGL Energy Partners by 36.0% in the first quarter. Bank of Montreal Can now owns 2,030,600 shares of the oil and gas company’s stock valued at $28,489,000 after purchasing an additional 537,710 shares during the period. JPMorgan Chase & Co. raised its position in shares of NGL Energy Partners by 14.2% in the first quarter. JPMorgan Chase & Co. now owns 3,108,236 shares of the oil and gas company’s stock valued at $43,609,000 after purchasing an additional 386,770 shares during the period. Finally, Biltmore Capital Advisors LLC bought a new position in shares of NGL Energy Partners in the first quarter valued at approximately $3,087,000. 60.48% of the stock is currently owned by institutional investors.
A number of equities analysts have recently commented on the stock. UBS Group lifted their price target on shares of NGL Energy Partners from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Monday. Zacks Investment Research lowered shares of NGL Energy Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. ValuEngine lowered shares of NGL Energy Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Piper Jaffray Companies assumed coverage on shares of NGL Energy Partners in a research report on Wednesday, July 17th. They issued a “neutral” rating and a $17.00 price target on the stock. Finally, Raymond James set a $18.00 price target on shares of NGL Energy Partners and gave the company a “buy” rating in a research report on Friday, May 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. NGL Energy Partners presently has an average rating of “Hold” and a consensus target price of $15.44.
NGL opened at $13.58 on Wednesday. NGL Energy Partners LP has a fifty-two week low of $8.71 and a fifty-two week high of $15.71. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.45 and a quick ratio of 1.08. The business’s fifty day simple moving average is $14.82. The firm has a market capitalization of $1.73 billion, a P/E ratio of -10.78, a P/E/G ratio of 8.66 and a beta of 1.06.
NGL Energy Partners (NYSE:NGL) last issued its earnings results on Thursday, August 8th. The oil and gas company reported ($0.96) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.89). NGL Energy Partners had a net margin of 1.54% and a negative return on equity of 1.12%. The firm had revenue of $6.64 billion during the quarter, compared to analyst estimates of $5.40 billion. The business’s revenue was up 13.6% on a year-over-year basis. On average, analysts forecast that NGL Energy Partners LP will post 0.79 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th will be issued a $0.39 dividend. The ex-dividend date is Tuesday, August 6th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 11.49%. NGL Energy Partners’s dividend payout ratio is -123.81%.
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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