NGL Energy Partners (NGL) Posts Earnings Results, Misses Estimates By $0.64 EPS

NGL Energy Partners (NYSE:NGL) released its quarterly earnings data on Thursday. The oil and gas company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.64), Fidelity Earnings reports. The business had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $4.83 billion. NGL Energy Partners had a negative return on equity of 0.54% and a negative net margin of 1.01%.

NGL Energy Partners stock traded down $0.20 during midday trading on Friday, reaching $10.31. 1,057,700 shares of the stock traded hands, compared to its average volume of 1,088,172. NGL Energy Partners has a 12 month low of $9.33 and a 12 month high of $17.65. The firm has a market cap of $1.35 billion, a PE ratio of -15.16 and a beta of 1.32. The company has a current ratio of 2.14, a quick ratio of 1.59 and a debt-to-equity ratio of 1.63.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Thursday, November 8th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 15.13%. The ex-dividend date is Wednesday, November 7th. NGL Energy Partners’s payout ratio is presently -229.41%.

A number of equities analysts have recently weighed in on the company. Bank of America set a $15.00 price objective on NGL Energy Partners and gave the stock a “buy” rating in a research note on Wednesday. Zacks Investment Research lowered NGL Energy Partners from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 17th. Credit Suisse Group assumed coverage on NGL Energy Partners in a research note on Thursday, October 11th. They issued an “outperform” rating and a $15.00 price objective for the company. ValuEngine raised NGL Energy Partners from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. Finally, Wells Fargo & Co dropped their price target on NGL Energy Partners from $14.00 to $11.00 and set a “market perform” rating for the company in a research note on Monday, September 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $14.00.

In other news, CEO H Michael Krimbill purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The stock was bought at an average cost of $11.65 per share, with a total value of $233,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John T. Raymond purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were purchased at an average cost of $11.04 per share, with a total value of $552,000.00. Following the completion of the purchase, the director now owns 50,000 shares of the company’s stock, valued at approximately $552,000. The disclosure for this purchase can be found here.

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About NGL Energy Partners

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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Earnings History for NGL Energy Partners (NYSE:NGL)

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