Oppenheimer Asset Management Inc. lifted its position in shares of NGL Energy Partners LP (NYSE:NGL) by 49.6% in the first quarter, Holdings Channel reports. The fund owned 12,132 shares of the oil and gas company’s stock after buying an additional 4,025 shares during the period. Oppenheimer Asset Management Inc.’s holdings in NGL Energy Partners were worth $170,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D raised its position in shares of NGL Energy Partners by 106.6% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 298,400 shares of the oil and gas company’s stock worth $2,862,000 after acquiring an additional 154,000 shares during the last quarter. Gradient Investments LLC raised its position in shares of NGL Energy Partners by 4,199.9% during the fourth quarter. Gradient Investments LLC now owns 42,999 shares of the oil and gas company’s stock worth $412,000 after acquiring an additional 41,999 shares during the last quarter. Brown Advisory Inc. bought a new stake in shares of NGL Energy Partners during the fourth quarter worth $997,000. Wiley BROS. Aintree Capital LLC raised its position in shares of NGL Energy Partners by 39.3% during the first quarter. Wiley BROS. Aintree Capital LLC now owns 47,010 shares of the oil and gas company’s stock worth $660,000 after acquiring an additional 13,255 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new stake in shares of NGL Energy Partners during the fourth quarter worth $5,038,000. Institutional investors own 64.22% of the company’s stock.
NGL has been the subject of a number of recent research reports. Zacks Investment Research upgraded NGL Energy Partners from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Wednesday, January 16th. ValuEngine upgraded NGL Energy Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, February 13th. Wells Fargo & Co reiterated a “hold” rating on shares of NGL Energy Partners in a report on Wednesday, February 13th. Finally, Credit Suisse Group downgraded NGL Energy Partners from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $14.00 to $15.00 in a report on Wednesday, February 20th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. NGL Energy Partners presently has a consensus rating of “Hold” and a consensus target price of $13.67.
NGL Energy Partners (NYSE:NGL) last released its quarterly earnings data on Monday, February 11th. The oil and gas company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.49. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.11 billion. NGL Energy Partners had a return on equity of 1.21% and a net margin of 1.51%. On average, equities research analysts predict that NGL Energy Partners LP will post -0.17 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $1.56 dividend on an annualized basis and a yield of 11.29%. NGL Energy Partners’s dividend payout ratio is presently -229.41%.
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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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