Sanford C. Bernstein assumed coverage on shares of Spectra Energy Partners, LP (NYSE:SEP) in a research note released on Tuesday. Following the acquisition, 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 is available at the SEC website. Ngl Energy Partners earned a coverage optimism score of 0.15 on Accern's scale. The shares were acquired at an average cost of $11.66 per share, with a total value of $116,600.00. Oppenheimerfunds, Inc. owns $178.5 million in NGL Energy Partners LP, which represents roughly 11.98% of the company's market cap and approximately 19.47% of the institutional ownership. 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 LP (NYSE:NGL) has a market capitalization of $1.49 Billion and most recently 120.92 Million outstanding shares have been calculated. This repurchase authorization allows the oil and gas company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Monday, November 6th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, November 3rd. The stock witnessed 12.27% gains, 29.32% gains and -14.24% declines for the 1-month, 3-month and 6-month period, respectively. Ngl Energy Partners's payout ratio is -74.29%.
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In other news, CFO Robert W. Karlovich III bought 10,000 shares of the stock in a transaction dated Tuesday, November 21st.
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Several other analysts also recently commented on the stock.
In terms of Buy/Sell recommendations, 5 analysts have a consensus rating of 2.2 on the shares of Ngl Energy Partners LP (NYSE:NGL). Barclays PLC reissued an "equal weight" rating and issued a $35.00 price objective on shares of Holly Energy Partners in a research note on Friday, November 10th. Zacks Investment Research raised shares of Ngl Energy Partners from a sell rating to a hold rating in a research note on Tuesday, September 19th. Royal Bank Of Canada reduced their price objective on Ngl Energy Partners from $20.00 to $14.00 and set an "outperform" rating for the company in a research note on Friday, August 4th. TheStreet lowered shares of Ngl Energy Partners from a "c-" rating to a "d+" rating in a research note on Tuesday, August 15th.
Several equities research analysts have weighed in on the stock. The company now has a consensus rating of "Hold" and a consensus price target of $17.83.
Institutional investors now hold around $917 million or 64.4% in NGL stock. Alps Advisors Inc. raised its position in Spectra Energy Partners, by 10.5% in the third quarter. Royal Bank Of Canada now has a $16.00 price objective on the oil and gas company's stock, up from their prior price objective of $14.00. BNP Paribas Arbitrage SA lifted its holdings in shares of Ngl Energy Partners by 399.1% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 3,312,900 shares of the pipeline company's stock worth $144,625,000 after buying an additional 378,300 shares in the last quarter. American Century Companies Inc. raised its position in Spectra Energy Partners, by 0.3% in the first quarter. Penserra Capital Management LLC now owns 10,151 shares of the oil and gas company's stock valued at $141,000 after buying an additional 8,164 shares in the last quarter. Northern Trust Corp now owns 43,224 shares of the oil and gas company's stock worth $605,000 after purchasing an additional 1,515 shares during the period. Grp One Trading Limited Partnership owns 0% invested in Holly Energy Partners, L.P. (NYSE:HEP) for 200 shares. As of December 31, 2016, its pipelines and terminals segment consisted of 24 main pipeline divisions; Crude gathering networks in Texas and New Mexico; 10 refined product terminals; one crude terminal; 8,300 track feet of rail storage located at one facility; seven locations with truck and/or rail racks, and Tankage at all six of HollyFrontier Corporation's (HFC's) refining facility locations.
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