NGL Energy Partners Stock Rating Upgraded by Zacks (NGL)
NGL Energy Partners (NYSE:NGL) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Wednesday, American Banking & Market News reports. The firm currently has a $37.40 price target on the stock. Zacks‘ price target would indicate a potential upside of 7.32% from the company’s current price.
Shares of NGL Energy Partners (NYSE:NGL) traded up 1.55% during mid-day trading on Wednesday, hitting $35.39. The stock had a trading volume of 355,557 shares. NGL Energy Partners has a 52-week low of $23.20 and a 52-week high of $35.10. The stock’s 50-day moving average is $32.68 and its 200-day moving average is $31.19. The company has a market cap of $2.568 billion and a price-to-earnings ratio of 56.21.
NGL Energy Partners (NYSE:NGL) last announced its earnings results on Tuesday, November 12th. The company reported ($0.05) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.04 by $0.09. On average, analysts predict that NGL Energy Partners will post $1.22 earnings per share for the current fiscal year.
A number of other firms have also recently commented on NGL. Analysts at UBS AG initiated coverage on shares of NGL Energy Partners in a research note to investors on Tuesday, December 24th. They set a “buy” rating and a $39.00 price target on the stock. Separately, analysts at Wunderlich initiated coverage on shares of NGL Energy Partners in a research note to investors on Wednesday, December 4th. They set a “buy” rating and a $37.00 price target on the stock. Finally, analysts at Raymond James reiterated a “buy” rating on shares of NGL Energy Partners in a research note to investors on Thursday, November 7th. They now have a $34.00 price target on the stock. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $35.60.
NGL Energy Partners LP is a limited partnership company formed to own and operate a vertically-integrated propane business.
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