NGL Energy’s Short Interest is on Par With the Industry Average
NGL Energy’s (NGL) short interest as a percentage of float has moved dramatically since the beginning of 2016.
Buyers and sellers in NGL Energy Partners have decreased by 7.0% and 29.6%, respectively
The correlation between NGL Energy Partners’ stock price and crude oil (USO) resulted in a correlation coefficient of 0.48 over the past year.
NGL Energy Partners (NGL) has an enterprise value of $5.0 billion.
NGL Energy’s EV-to-adjusted EBITDA ratio, using its trailing-12-month adjusted EBITDA, is 12.0x.
NGL Energy ended fiscal 4Q16 with a total outstanding debt of $2.9 billion, $400 million less than the previous fiscal.
NGL Energy Partners (NGL) recently decided to cut its distribution by 39%.
NGL Energy’s (NGL) Crude Oil Logistics segment is mainly involved in crude oil acquisition and resale activities.
NGL Energy Partners’ (NGL) shares jumped following the closing of an investment by Oaktree Capital Management.
About 70% of the analysts surveyed have rated Phillips 66 Partners as a “buy,” while 30% have rated it as a “hold.”
Phillips 66’s (PSX) MLP subsidiary Phillips 66 Partners’ (PSXP) short interest as a percentage of float is nearly 3%.
Nearly 70% of Phillips 66 Partners’ (PSXP) floating shares are currently held by ~195 institutional investors.
Over the next two years, Phillips 66 Partners is expected to have compound distribution growth of 26%.
Phillips 66 Partners is currently trading at a forward distribution yield of nearly 4%. This is higher than its three-year average distribution yield of ~3.3%.
Phillips 66 Partners’ (PSXP) net debt-to-equity ratio currently stands at 0.98x. It had total outstanding debt of $1.3 billion at the end of 1Q16.
Phillips 66 Partners’ (PSXP) average pipeline revenue per barrel in 1Q16 was $0.46 compared to $0.44 in 1Q15.
Phillips 66 Partners’ (PSXP) capital expenditure in 1Q16 was $57 million compared to $32.9 million during the same period in 2015.
The throughput volume for Phillips 66 Partners’ (PSXP) wholly-owned pipelines for 1Q16 was 801 Mbpd (thousand barrels per day).
Phillips 66 Partners (PSXP) has fallen by 13% so far in 2016. The partnership and its peers have underperformed the MLP sector so far in 2016.
As of June 27, 2016, EnLink Midstream (ENLC) had the highest short interest-to-equity float ratio among midstream stocks at 12.05%.