NGL Energy Partners LP (NYSE:NGL) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 6,620,000 shares, an increase of 8.7% from the August 30th total of 6,090,000 shares. Currently, 5.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 837,500 shares, the days-to-cover ratio is currently 7.9 days.
In related news, Director James M. Collingsworth acquired 6,250 shares of the business’s stock in a transaction on Monday, August 19th. The stock was acquired at an average cost of $13.25 per share, with a total value of $82,812.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO H Michael Krimbill acquired 60,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were bought at an average cost of $12.72 per share, with a total value of $763,200.00. The disclosure for this purchase can be found here.
Several hedge funds have recently bought and sold shares of NGL. Invesco Ltd. grew its holdings in shares of NGL Energy Partners by 11,053.5% in the second quarter. Invesco Ltd. now owns 21,007,430 shares of the oil and gas company’s stock valued at $310,279,000 after purchasing an additional 20,819,081 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of NGL Energy Partners by 1,667.7% in the third quarter. CIBC Private Wealth Group LLC now owns 342,757 shares of the oil and gas company’s stock valued at $4,768,000 after purchasing an additional 323,367 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of NGL Energy Partners by 69.2% in the second quarter. Wells Fargo & Company MN now owns 706,442 shares of the oil and gas company’s stock valued at $10,435,000 after purchasing an additional 288,954 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of NGL Energy Partners by 5.5% in the second quarter. JPMorgan Chase & Co. now owns 3,278,498 shares of the oil and gas company’s stock valued at $47,768,000 after purchasing an additional 170,262 shares in the last quarter. Finally, RR Advisors LLC grew its holdings in shares of NGL Energy Partners by 6.1% in the first quarter. RR Advisors LLC now owns 2,890,000 shares of the oil and gas company’s stock valued at $40,544,000 after purchasing an additional 167,000 shares in the last quarter. 60.91% of the stock is owned by hedge funds and other institutional investors.
NGL has been the subject of a number of research analyst reports. ValuEngine raised shares of NGL Energy Partners from a “strong sell” rating to a “sell” rating in a report on Friday, October 11th. Piper Jaffray Companies initiated coverage on shares of NGL Energy Partners in a report on Wednesday, July 17th. They set a “neutral” rating and a $17.00 price objective for the company. Zacks Investment Research lowered shares of NGL Energy Partners from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, UBS Group lowered shares of NGL Energy Partners from a “buy” rating to a “neutral” rating and cut their price objective for the company from $17.00 to $13.50 in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $15.64.
NGL stock opened at $11.52 on Thursday. The firm has a fifty day moving average price of $13.34 and a 200 day moving average price of $14.11. NGL Energy Partners 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 1.59, a quick ratio of 0.98 and a current ratio of 1.42. The firm has a market cap of $1.49 billion, a PE ratio of -9.14, a price-to-earnings-growth ratio of 5.74 and a beta of 1.09.
NGL Energy Partners (NYSE:NGL) last posted its earnings results on Thursday, August 8th. The oil and gas company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.89). NGL Energy Partners had a net margin of 1.54% and a negative return on equity of 1.15%. The business had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $5.40 billion. NGL Energy Partners’s revenue was up 13.6% compared to the same quarter last year. On average, equities analysts predict that NGL Energy Partners will post 1.03 EPS for the current year.
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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