Investors Purchase High Volume of Ngl Energy Partners Put Options (NGL)

Ngl Energy Partners Lp (NYSE:NGL) saw unusually large options trading on Wednesday. Stock traders bought 6,008 put options on the stock. This is an increase of approximately 3,827% compared to the average volume of 153 put options.

Ngl Energy Partners (NYSE NGL) opened at $12.80 on Monday. Ngl Energy Partners has a 12 month low of $8.57 and a 12 month high of $25.80. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.99 and a current ratio of 1.56.

Ngl Energy Partners declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 29th that authorizes the company to repurchase $15.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Monday, November 6th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $1.56 annualized dividend and a dividend yield of 12.19%. Ngl Energy Partners’s dividend payout ratio (DPR) is currently -74.29%.

Several brokerages have weighed in on NGL. TheStreet downgraded Ngl Energy Partners from a “c-” rating to a “d+” rating in a research note on Tuesday, August 15th. Stifel Nicolaus lowered their target price on Ngl Energy Partners from $13.00 to $10.00 and set a “hold” rating on the stock in a research note on Wednesday, August 16th. Zacks Investment Research upgraded Ngl Energy Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, September 19th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $16.00 target price (up from $14.00) on shares of Ngl Energy Partners in a research note on Tuesday, November 7th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Ngl Energy Partners has an average rating of “Hold” and a consensus price target of $17.83.

In other news, CEO H Michael Krimbill purchased 75,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were bought at an average price of $8.86 per share, with a total value of $664,500.00. Following the completion of the transaction, the chief executive officer now directly owns 814,417 shares in the company, valued at approximately $7,215,734.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert W. Karlovich III purchased 10,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were purchased at an average cost of $11.66 per share, for a total transaction of $116,600.00. Following the transaction, the chief financial officer now owns 99,320 shares of the company’s stock, valued at $1,158,071.20. The disclosure for this purchase can be found here.

Several hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP purchased a new stake in shares of Ngl Energy Partners in the third quarter valued at approximately $1,875,000. Neuberger Berman Group LLC purchased a new stake in shares of Ngl Energy Partners in the third quarter valued at approximately $470,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Ngl Energy Partners by 82.5% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 184,687 shares of the oil and gas company’s stock valued at $2,133,000 after buying an additional 83,466 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Ngl Energy Partners by 155.4% in the third quarter. Wells Fargo & Company MN now owns 612,210 shares of the oil and gas company’s stock valued at $7,071,000 after buying an additional 372,523 shares in the last quarter. Finally, HITE Hedge Asset Management LLC boosted its stake in shares of Ngl Energy Partners by 414.8% in the third quarter. HITE Hedge Asset Management LLC now owns 2,818,082 shares of the oil and gas company’s stock valued at $32,549,000 after buying an additional 2,270,714 shares in the last quarter. Institutional investors own 63.71% of the company’s stock.

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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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