NGL Energy Partners (NYSE:NGL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday, February 16th.
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. “
Other analysts also recently issued research reports about the company. ValuEngine raised NGL Energy Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $16.00 target price (up previously from $14.00) on shares of NGL Energy Partners in a research report on Tuesday, November 7th. Stifel Nicolaus reissued a “hold” rating and set a $10.00 target price on shares of NGL Energy Partners in a research report on Sunday, October 29th. Finally, Credit Suisse Group initiated coverage on NGL Energy Partners in a report on Thursday, January 4th. They set an “outperform” rating and a $16.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. NGL Energy Partners presently has an average rating of “Hold” and a consensus target price of $16.00.
NGL Energy Partners (NYSE:NGL) traded down $0.50 during midday trading on Friday, reaching $11.30. The company had a trading volume of 421,842 shares, compared to its average volume of 918,230. The company has a market cap of $1,370.00, a P/E ratio of -6.61 and a beta of 1.02. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.69 and a quick ratio of 1.14. NGL Energy Partners has a 52 week low of $8.57 and a 52 week high of $23.19.
NGL Energy Partners (NYSE:NGL) last issued its earnings results on Friday, February 9th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.13. NGL Energy Partners had a negative return on equity of 1.85% and a negative net margin of 0.97%. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $3.96 billion. equities research analysts anticipate that NGL Energy Partners will post -1.19 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA lifted its stake in shares of NGL Energy Partners by 399.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,983 shares of the oil and gas company’s stock worth $104,000 after purchasing an additional 7,183 shares during the last quarter. Commonwealth Equity Services Inc acquired a new position in NGL Energy Partners during the 3rd quarter valued at about $117,000. Yorkville Capital Management LLC acquired a new position in NGL Energy Partners during the 4th quarter valued at about $196,000. Edge Advisors LLC acquired a new position in NGL Energy Partners during the 4th quarter valued at about $210,000. Finally, Penbrook Management LLC acquired a new position in NGL Energy Partners during the 4th quarter valued at about $211,000. Hedge funds and other institutional investors own 65.63% of the company’s stock.
About NGL Energy Partners
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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