NGL Energy Partners (NYSE:NGL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, January 9th.
According to Zacks, “NGL Energy Partners LP is a limited partnership operating a vertically-integrated propane business with three operating segments: retail propane; wholesale supply and marketing; and midstream. The Retail Propane segment engages in retail marketing, sale, and distribution of propane, including the sale and lease of propane tanks, equipment, and supplies to residential, agricultural, commercial, and industrial customers through customer service locations. The Wholesale Supply and Marketing segment supplies propane and other natural gas liquids, as well as provides related storage to retailers, wholesalers, and refiners. The Midstream segment involves in the delivery of propane from pipelines or trucks to propane terminals and transfers the propane to third-party transport trucks for delivery to retailers, wholesalers, or other consumers. NGL Energy Partners LP is headquartered in Tulsa, Oklahoma. “
Several other equities analysts also recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $16.00 price objective (up previously from $14.00) on shares of NGL Energy Partners in a research report on Tuesday, November 7th. Stifel Nicolaus reiterated a “hold” rating and issued a $10.00 price objective on shares of NGL Energy Partners in a research report on Sunday, October 29th. Credit Suisse Group initiated coverage on NGL Energy Partners in a research report on Thursday, January 4th. They issued an “outperform” rating and a $16.00 price objective for the company. Finally, ValuEngine upgraded NGL Energy Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $15.40.
NGL Energy Partners (NGL) opened at $16.60 on Tuesday. The company has a current ratio of 1.56, a quick ratio of 0.99 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $2,000.51, a P/E ratio of -7.90 and a beta of 0.69. NGL Energy Partners has a 52-week low of $8.57 and a 52-week high of $25.80.
NGL Energy Partners (NYSE:NGL) last posted its earnings results on Monday, November 6th. The oil and gas company reported ($0.60) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.34). NGL Energy Partners had a negative return on equity of 4.60% and a negative net margin of 1.40%. analysts forecast that NGL Energy Partners will post -1.23 earnings per share for the current fiscal year.
In related news, CFO Robert W. Karlovich III acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was acquired at an average cost of $11.66 per share, with a total value of $116,600.00. Following the completion of the purchase, the chief financial officer now directly owns 99,320 shares in the company, valued at $1,158,071.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Large investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA grew its stake in NGL Energy Partners by 399.1% in the third quarter. BNP Paribas Arbitrage SA now owns 8,983 shares of the oil and gas company’s stock valued at $104,000 after acquiring an additional 7,183 shares during the period. Commonwealth Equity Services Inc bought a new stake in shares of NGL Energy Partners in the third quarter valued at about $117,000. Oppenheimer & Co. Inc. lifted its holdings in shares of NGL Energy Partners by 32.0% in the second quarter. Oppenheimer & Co. Inc. now owns 14,450 shares of the oil and gas company’s stock valued at $202,000 after purchasing an additional 3,500 shares in the last quarter. HAP Trading LLC bought a new stake in shares of NGL Energy Partners in the second quarter valued at about $221,000. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of NGL Energy Partners by 44.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 19,950 shares of the oil and gas company’s stock valued at $279,000 after purchasing an additional 6,131 shares in the last quarter. 63.82% of the stock is owned by hedge funds and other institutional investors.
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NGL Energy Partners Company Profile
NGL Energy Partners LP owns and operates a vertically integrated energy business. The Company’s segments are crude oil logistics, water solutions, liquids, retail propane, refined products and renewables, and corporate and other. Its crude oil logistics segment includes owned and leased crude oil storage terminals, and owned and leased pipeline injection stations.
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