NGL Energy Partners (NYSE:NGL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Saturday, January 20th.
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 research firms also recently weighed in on NGL. Royal Bank of Canada restated an “outperform” rating and issued a $16.00 price objective (up from $14.00) on shares of NGL Energy Partners in a report on Tuesday, November 7th. ValuEngine upgraded shares of NGL Energy Partners from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Stifel Nicolaus reiterated a “hold” rating and issued a $10.00 target price on shares of NGL Energy Partners in a report on Sunday, October 29th. Finally, Credit Suisse Group began coverage on shares of NGL Energy Partners in a report on Thursday, January 4th. They issued an “outperform” rating and a $16.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. NGL Energy Partners has a consensus rating of “Hold” and an average target price of $15.40.
NGL Energy Partners (NYSE:NGL) traded up $0.05 during mid-day trading on Friday, hitting $13.30. The company had a trading volume of 945,335 shares, compared to its average volume of 890,150. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.56 and a quick ratio of 0.99. The company has a market capitalization of $1,568.03, a P/E ratio of -7.78 and a beta of 0.79. NGL Energy Partners has a 12-month low of $8.57 and a 12-month high of $24.60.
NGL Energy Partners (NYSE:NGL) last released its quarterly earnings data on Friday, February 9th. The oil and gas company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.13. The firm had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $3.96 billion. NGL Energy Partners had a negative return on equity of 1.80% and a negative net margin of 0.97%. analysts predict that NGL Energy Partners will post -1.23 EPS for the current year.
In other news, CFO Robert W. Karlovich III bought 10,000 shares of NGL Energy Partners stock in a transaction on Tuesday, November 21st. The stock was acquired at an average cost of $11.66 per share, for a total transaction of $116,600.00. Following the completion of the acquisition, the chief financial officer now owns 99,320 shares of the company’s stock, valued at approximately $1,158,071.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several institutional investors and hedge funds have recently bought and sold shares of NGL. BNP Paribas Arbitrage SA increased its holdings in shares of NGL Energy Partners by 399.1% during 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 in the last quarter. Commonwealth Equity Services Inc acquired a new position in shares of NGL Energy Partners during the third quarter valued at about $117,000. Edge Advisors LLC acquired a new position in shares of NGL Energy Partners during the fourth quarter valued at about $210,000. Virtu Financial LLC acquired a new position in shares of NGL Energy Partners during the fourth quarter valued at about $227,000. Finally, Koch Industries Inc. acquired a new position in shares of NGL Energy Partners during the fourth quarter valued at about $272,000. Hedge funds and other institutional investors own 70.53% 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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