Ngl Energy Partners Lp (NYSE:NGL) announced a quarterly dividend on Monday, July 24th, Wall Street Journal reports. Stockholders of record on Friday, August 4th will be given a dividend of 0.39 per share by the oil and gas company on Monday, August 14th. This represents a $1.56 annualized dividend and a dividend yield of 16.77%. The ex-dividend date of this dividend is Wednesday, August 2nd.
Ngl Energy Partners Lp has decreased its dividend by an average of 2.4% annually over the last three years. Ngl Energy Partners Lp has a payout ratio of -346.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Ngl Energy Partners Lp to earn $0.36 per share next year, which means the company may not be able to cover its $1.56 annual dividend with an expected future payout ratio of 433.3%.
Ngl Energy Partners Lp (NYSE NGL) traded up 2.20% during mid-day trading on Friday, reaching $9.30. 790,035 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $12.11 and a 200-day moving average of $17.14. Ngl Energy Partners Lp has a 12 month low of $9.00 and a 12 month high of $25.80. The firm’s market cap is $1.13 billion.
Ngl Energy Partners Lp (NYSE:NGL) last posted its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.59) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by $0.21. The company had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $2.59 billion. Ngl Energy Partners Lp had a negative net margin of 0.73% and a negative return on equity of 5.00%. Analysts anticipate that Ngl Energy Partners Lp will post $0.12 earnings per share for the current year.
In related news, Director Highstar Capital Iv, L.P. sold 157,559 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $13.82, for a total value of $2,177,465.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 477,653 shares of company stock valued at $6,541,910.
A hedge fund recently raised its stake in Ngl Energy Partners Lp stock. Northern Trust Corp raised its stake in Ngl Energy Partners Lp (NYSE:NGL) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,224 shares of the oil and gas company’s stock after buying an additional 1,515 shares during the period. Northern Trust Corp’s holdings in Ngl Energy Partners Lp were worth $605,000 at the end of the most recent reporting period. Institutional investors own 76.37% of the company’s stock.
NGL has been the topic of several recent research reports. Zacks Investment Research lowered shares of Ngl Energy Partners Lp from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. ValuEngine lowered shares of Ngl Energy Partners Lp from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $13.00 price objective on shares of Ngl Energy Partners Lp in a report on Wednesday, July 19th. FBR & Co lowered shares of Ngl Energy Partners Lp from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $28.00 to $22.00 in a report on Tuesday, April 25th. Finally, BidaskClub raised shares of Ngl Energy Partners Lp from a “strong sell” rating to a “sell” rating in a report on Thursday, June 29th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Ngl Energy Partners Lp has a consensus rating of “Hold” and an average target price of $18.57.
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.
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