JPMorgan Securities LLC recently announced the acquisition of new stake in NGL Energy Partners LP (NYSE:NGL). The institutional investor has increased its shareholding in the Energy company by 11.05% to 7.32 million shares with purchase of 0.73 million shares. This fresh investment now brings its stake to 5.55% valued currently at $31.7 million. In addition, Goldman Sachs & Co. LLC raised its holdings by 0.1 million to 2.15 million shares. And Susquehanna Financial Group LLLP has lifted its position by 23.17% or 0.12 million shares – to 0.66 million shares.
With over 0.46 million NGL Energy Partners LP (NGL) shares trading Friday and a closing price of $5.35 on the day, the dollar volume was approximately $2.45 million. The shares have shown a positive half year performance of 34.76% and its price on 12/22/23 lost nearly -4.46%. Currently, there are 131.93M common shares owned by the public and among those 111.43M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for NGL have a consensus price objective of $5.00. The analysts have set the share’s price value over the next 12 months at a high of $5.00 and a low of $5.00. The average price target is -7.0% below its recent price level and a downside to the estimated low will see the stock lose -7.0% over that period. But a downside of -7.0% will see the stock hit the forecast high price target while median target price for the stock is $5.00.
Insiders at the company have transacted a total of 15 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 262,500 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 45,176 shares.
The top 3 mutual fund holders in NGL Energy Partners LP are Invesco SteelPath MLP Income Fund, Invesco SteelPath MLP Select 40 F, and Unusual Whales Subversive Republi. Invesco SteelPath MLP Income Fund owns 12.41 million shares of the company’s stock, all valued at over $53.74 million. Invesco SteelPath MLP Select 40 F sold -0.15 million shares to see its total holdings shrink to 7.15 million shares valued at over $30.96 million and representing 5.42% of the shares outstanding. Unusual Whales Subversive Republi now owns shares totaling to 0.02% of the shares outstanding.
Shares of NGL Energy Partners LP (NYSE: NGL) opened at $5.67, up $0.07 from a prior closing price of $5.60. However, the script later moved the day high at 5.68, down -4.46%. The company’s stock has a 5-day price change of 7.43% and 39.69% over the past three months. NGL shares are trading 342.15% year to date (YTD), with the 12-month market performance up to 373.45% higher. It has a 12-month low price of $1.02 and touched a high of $5.65 over the same period. NGL has an average intraday trading volume of 479.15K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 17.79%, 24.78%, and 43.99% respectively.
Institutional ownership of NGL Energy Partners LP (NYSE: NGL) shares accounts for 27.66% of the company’s 131.93M shares outstanding. Mutual fund holders own 14.85%, while other institutional holders and individual stakeholders account for 23.75% and 12.81% respectively.
It has a market capitalization of $705.83M and a beta (3y monthly) value of 1.69. The earnings-per-share (ttm) stands at -$0.48. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.38% over the week and 4.19% over the month.
Analysts forecast that NGL Energy Partners LP (NGL) will achieve an EPS of $0.19 for the current quarter, $0.2 for the next quarter and -$1.42 for 2025. The lowest estimate earnings-per-share for the quarter is $0.19 while analysts give the company a high EPS estimate of $0.19. Comparatively, EPS for the current quarter was $0.19 a year ago. Earnings per share for the fiscal year are expected to increase by 226.79%, and -100.70% over the next financial year. EPS should shrink at an annualized rate of 3.00% over the next five years, compared to 12.37% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate NGL Energy Partners LP (NGL) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 2 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NGL, a number of firms have released research notes about the stock. UBS stated their Neutral rating for the stock in a research note on February 18, 2021, with the firm’s price target at $2-$3.
