NGL Energy Partners (NYSE:NGL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued 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. “
A number of other research analysts also recently commented on the company. Credit Suisse Group began coverage on NGL Energy Partners in a research note on Thursday, January 4th. They set an “outperform” rating and a $16.00 price objective for the company. ValuEngine upgraded NGL Energy Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Stifel Nicolaus boosted their price target on NGL Energy Partners from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Tuesday, November 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $16.00 price target (up previously from $14.00) on shares of NGL Energy Partners in a research report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $15.40.
Shares of NGL Energy Partners (NYSE:NGL) traded up $0.20 on Tuesday, reaching $16.75. The company had a trading volume of 777,245 shares, compared to its average volume of 719,102. The company has a market cap of $2,030.00, a P/E ratio of -7.98 and a beta of 0.69. 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 has a 52-week low of $8.57 and a 52-week high of $25.50.
NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings data on Monday, November 6th. The oil and gas company reported ($0.60) EPS for the quarter, missing the Zacks’ 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%. equities analysts predict that NGL Energy Partners will post -1.23 EPS for the current year.
In other NGL Energy Partners news, CFO Robert W. Karlovich III purchased 10,000 shares of NGL Energy Partners stock in a transaction on Tuesday, November 21st. The stock was bought at an average price of $11.66 per share, for a total transaction of $116,600.00. Following the transaction, the chief financial officer now owns 99,320 shares of the company’s stock, valued at approximately $1,158,071.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of hedge funds have recently made changes to their positions in the business. Harvest Fund Advisors LLC boosted its position in NGL Energy Partners by 6.8% during the 3rd quarter. Harvest Fund Advisors LLC now owns 7,090,961 shares of the oil and gas company’s stock worth $81,901,000 after acquiring an additional 449,855 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of NGL Energy Partners by 20.2% in the second quarter. Goldman Sachs Group Inc. now owns 3,073,412 shares of the oil and gas company’s stock valued at $43,028,000 after buying an additional 515,730 shares during the period. HITE Hedge Asset Management LLC lifted its holdings in shares of NGL Energy Partners by 414.8% in the third quarter. HITE Hedge Asset Management LLC now owns 2,818,082 shares of the oil and gas company’s stock valued at $32,549,000 after buying an additional 2,270,714 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of NGL Energy Partners by 34.2% in the third quarter. JPMorgan Chase & Co. now owns 2,352,179 shares of the oil and gas company’s stock valued at $25,874,000 after buying an additional 599,612 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of NGL Energy Partners by 2.9% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,346,190 shares of the oil and gas company’s stock valued at $27,098,000 after buying an additional 66,536 shares during the period. Institutional investors own 63.40% of the company’s stock.
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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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