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. “
Other analysts also recently issued reports about the company. Stifel Nicolaus raised their target price on NGL Energy Partners from $18.00 to $20.00 and gave the company a buy rating in a research note on Friday, August 5th. FBR & Co began coverage on NGL Energy Partners in a research note on Friday, September 9th. They set a market perform rating and a $21.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $14.44.
NGL Energy Partners (NYSE:NGL) opened at 19.19 on Wednesday. NGL Energy Partners has a 12 month low of $5.57 and a 12 month high of $20.92. The firm’s market cap is $2.02 billion. The company has a 50-day moving average price of $18.33 and a 200 day moving average price of $16.09.
NGL Energy Partners (NYSE:NGL) last announced its earnings results on Thursday, August 4th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $1.50. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.48 billion. Equities research analysts anticipate that NGL Energy Partners will post $2.56 EPS for the current year.
In other news, CEO H Michael Krimbill purchased 20,000 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were bought at an average price of $17.31 per share, for a total transaction of $346,200.00. Following the completion of the purchase, the chief executive officer now owns 789,417 shares of the company’s stock, valued at $13,664,808.27. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Large investors have recently made changes to their positions in the stock. HITE Hedge Asset Management LLC raised its stake in shares of 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 valued at $20,707,000 after buying an additional 960,759 shares during the last quarter. Alps Advisors Inc. purchased a new stake in shares of NGL Energy Partners during the second quarter valued at approximately $113,909,000. Bank of Montreal Can purchased a new stake in shares of NGL Energy Partners during the second quarter valued at approximately $7,674,000. Acadian Asset Management LLC purchased a new stake in shares of NGL Energy Partners during the second quarter valued at approximately $4,683,000. Finally, Hollencrest Securities LLC purchased a new stake in shares of NGL Energy Partners during the second quarter valued at approximately $1,532,000.
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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