First Eagle Investment Management LLC raised its stake in shares of NGL ENERGY PARTNERS LP (NYSE:NGL) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,134,340 shares of the oil and gas company’s stock after buying an additional 46,469 shares during the period. First Eagle Investment Management LLC owned 1.77% of NGL ENERGY PARTNERS worth $29,881,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Ballentine Partners LLC acquired a new position in NGL ENERGY PARTNERS during the second quarter valued at about $431,000. Proficio Capital Partners LLC raised its position in shares of NGL ENERGY PARTNERS by 68.9% in the second quarter. Proficio Capital Partners LLC now owns 16,990 shares of the oil and gas company’s stock worth $208,000 after buying an additional 6,932 shares during the last quarter. Alps Advisors Inc. raised its position in shares of NGL ENERGY PARTNERS by 5.5% in the second quarter. Alps Advisors Inc. now owns 8,150,982 shares of the oil and gas company’s stock worth $114,114,000 after buying an additional 427,126 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of NGL ENERGY PARTNERS during the second quarter worth $1,764,000. Finally, Duff & Phelps Investment Management Co. raised its position in shares of NGL ENERGY PARTNERS by 86.8% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,560,000 shares of the oil and gas company’s stock worth $21,840,000 after buying an additional 725,000 shares during the last quarter. Hedge funds and other institutional investors own 76.37% of the company’s stock.
Shares of NGL ENERGY PARTNERS LP (NYSE:NGL) opened at 9.30 on Monday. NGL ENERGY PARTNERS LP has a 52 week low of $9.00 and a 52 week high of $25.80. The stock’s market cap is $1.13 billion. The firm has a 50-day moving average of $12.11 and a 200 day moving average of $17.14.
NGL ENERGY PARTNERS (NYSE:NGL) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by $0.21. The business had revenue of $3.78 billion for the quarter, compared to analyst estimates of $2.59 billion. NGL ENERGY PARTNERS had a negative return on equity of 5.00% and a negative net margin of 0.73%. On average, equities analysts forecast that NGL ENERGY PARTNERS LP will post $0.12 EPS 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 dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 16.77%. NGL ENERGY PARTNERS’s payout ratio is presently -124.80%.
TRADEMARK VIOLATION NOTICE: This news story was posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this news story on another site, it was copied illegally and reposted in violation of United States & international copyright & trademark legislation. The original version of this news story can be viewed at https://stocknewstimes.com/2017/08/21/first-eagle-investment-management-llc-acquires-46469-shares-of-ngl-energy-partners-lp-ngl.html.
A number of research firms have commented on NGL. TheStreet downgraded shares of NGL ENERGY PARTNERS from a “c-” rating to a “d+” rating in a research report on Tuesday, August 15th. Stifel Nicolaus cut their target price on shares of NGL ENERGY PARTNERS from $13.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday, August 16th. UBS AG cut their target price on shares of NGL ENERGY PARTNERS from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, August 4th. Royal Bank Of Canada cut their target price on shares of NGL ENERGY PARTNERS from $20.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. Finally, Zacks Investment Research downgraded shares of NGL ENERGY PARTNERS from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $18.57.
In related news, Director Highstar Capital Iv, L.P. sold 25,000 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $12.60, for a total transaction of $315,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 477,653 shares of company stock worth $6,541,910 over the last 90 days.
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.
Receive News & Ratings for NGL ENERGY PARTNERS LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NGL ENERGY PARTNERS LP and related companies with MarketBeat.com's FREE daily email newsletter.
