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NGL Energy Partners Stock: Analysts’ Views

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Dec. 12 2018, Updated 12:51 p.m. ET

NGL Energy Partners

Recently, NGL Energy Partners (NGL) stock has been notably weak. The stock has lost ~20% in the last two months. Analysts have given NGL Energy Partners a median target price of $14.25, which indicates a potential upside more than 45% for the next 12 months.

Analysts seem positive on NGL Energy stock. Among the eight analysts tracking NGL Energy, four recommended a “buy,” two recommended a “strong buy,” and two recommended a “hold.” None of the analysts recommended a “sell” as of December 12. Bank of America Merrill Lynch cut NGL Energy’s target price from $13.0 to $11.0.

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Distribution yield

NGL Energy Partners stock trades at a distribution yield of 16%, which is notably higher than its peers. Recently, NGL Energy Partners paid a quarterly distribution of $0.39 per unit. However, NGL Energy hasn’t increased its quarterly distribution for the past 11 consecutive quarters. Last month, NGL Energy Partners announced its agreement to sell the Bakken saltwater disposal business to Tallgrass Energy for $91 million.

Peer’s target price

Tallgrass Energy Partners (TGE) offers an estimated upside of more than 21% for the next 12 months. Analysts have given Tallgrass Energy Partners a median target price of $25.64. Currently, Tallgrass Energy Partners trades at $21.13. Citigroup cut Tallgrass Energy Partners’ target price from $27.0 to $23.0 on November 29.

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