Eagle Global Advisors LLC increased its stake in NGL ENERGY PARTNERS LP (NYSE:NGL) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,153,949 shares of the oil and gas company’s stock after buying an additional 15,910 shares during the period. NGL ENERGY PARTNERS accounts for approximately 1.3% of Eagle Global Advisors LLC’s holdings, making the stock its 24th largest position. Eagle Global Advisors LLC owned 2.61% of NGL ENERGY PARTNERS worth $44,155,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. OppenheimerFunds Inc. raised its position in NGL ENERGY PARTNERS by 15.5% in the first quarter. OppenheimerFunds Inc. now owns 15,197,205 shares of the oil and gas company’s stock valued at $343,457,000 after buying an additional 2,042,480 shares in the last quarter. Morgan Stanley raised its position in NGL ENERGY PARTNERS by 4.4% in the first quarter. Morgan Stanley now owns 3,980,011 shares of the oil and gas company’s stock valued at $89,948,000 after buying an additional 169,522 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its position in NGL ENERGY PARTNERS by 300.6% in the first quarter. Kayne Anderson Capital Advisors LP now owns 3,259,800 shares of the oil and gas company’s stock valued at $73,657,000 after buying an additional 2,446,100 shares in the last quarter. UBS Group AG raised its position in NGL ENERGY PARTNERS by 39.4% in the first quarter. UBS Group AG now owns 3,028,318 shares of the oil and gas company’s stock valued at $68,440,000 after buying an additional 856,535 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in NGL ENERGY PARTNERS by 957.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,557,682 shares of the oil and gas company’s stock valued at $57,803,000 after buying an additional 2,315,904 shares in the last quarter. Institutional investors and hedge funds own 76.37% of the company’s stock.
Shares of NGL ENERGY PARTNERS LP (NYSE:NGL) opened at 9.30 on Friday. The firm’s market cap is $1.13 billion. The company has a 50 day moving average price of $12.11 and a 200-day moving average price of $17.14. NGL ENERGY PARTNERS LP has a 52-week low of $9.00 and a 52-week high of $25.80.
NGL ENERGY PARTNERS (NYSE:NGL) last announced its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.59) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by $0.21. NGL ENERGY PARTNERS had a negative net margin of 0.73% and a negative return on equity of 5.00%. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $2.59 billion. On average, analysts expect that NGL ENERGY PARTNERS LP will post $0.12 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Friday, August 4th were given a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $1.56 annualized dividend and a yield of 16.77%. NGL ENERGY PARTNERS’s payout ratio is -124.80%.
Several research firms have weighed in on NGL. Stifel Nicolaus reiterated a “hold” rating and set a $13.00 target price on shares of NGL ENERGY PARTNERS in a report on Wednesday, July 19th. TheStreet lowered NGL ENERGY PARTNERS from a “c-” rating to a “d+” rating in a report on Tuesday. Wells Fargo & Company lowered NGL ENERGY PARTNERS from an “outperform” rating to a “market perform” rating in a report on Monday, July 17th. Royal Bank Of Canada cut their price target on NGL ENERGY PARTNERS from $27.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, April 25th. Finally, UBS AG cut their price target on NGL ENERGY PARTNERS from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, August 4th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $18.57.
In related news, Director Highstar Capital Iv, L.P. sold 200,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $13.70, for a total value of $2,740,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 477,653 shares of company stock worth $6,541,910.
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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