Ngl Energy Partners Lp (NYSE:NGL) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Friday.

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 have also recently commented on NGL. Stifel Nicolaus cut their target price on shares of Ngl Energy Partners Lp from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. Bank of America Corporation upgraded shares of Ngl Energy Partners Lp from a “neutral” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Tuesday, December 6th. RBC Capital Markets reiterated a “buy” rating and set a $21.00 target price on shares of Ngl Energy Partners Lp in a research note on Friday, January 6th. Raymond James Financial, Inc. upgraded shares of Ngl Energy Partners Lp from a “market perform” rating to an “outperform” rating and set a $24.00 target price for the company in a research note on Thursday, January 12th. Finally, TheStreet upgraded shares of Ngl Energy Partners Lp from a “d+” rating to a “c-” rating in a research note on Thursday, January 19th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $19.67.

Analyst Recommendations for Ngl Energy Partners Lp (NYSE:NGL)

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Ngl Energy Partners Lp (NYSE:NGL) opened at 23.25 on Friday. The firm’s 50-day moving average is $23.27 and its 200-day moving average is $19.68. Ngl Energy Partners Lp has a 1-year low of $6.52 and a 1-year high of $25.80. The firm’s market capitalization is $2.56 billion.

Ngl Energy Partners Lp (NYSE:NGL) last released its earnings results on Tuesday, February 7th. The company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by $0.48. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.09 billion. Ngl Energy Partners Lp had a negative net margin of 0.85% and a positive return on equity of 9.99%. On average, equities analysts anticipate that Ngl Energy Partners Lp will post $1.90 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Friday, February 3rd were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 6.71%. The ex-dividend date was Wednesday, February 1st. Ngl Energy Partners Lp’s payout ratio is currently -112.23%.

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Several institutional investors have recently made changes to their positions in the stock. Proficio Capital Partners LLC boosted its position in shares of Ngl Energy Partners Lp by 110.4% in the third quarter. Proficio Capital Partners LLC now owns 9,934 shares of the company’s stock worth $187,000 after buying an additional 5,212 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Ngl Energy Partners Lp by 3.8% in the third quarter. Oppenheimer & Co. Inc. now owns 10,950 shares of the company’s stock worth $206,000 after buying an additional 400 shares in the last quarter. Friedberg Investment Management acquired a new position in shares of Ngl Energy Partners Lp during the fourth quarter worth about $209,000. Americafirst Capital Management LLC acquired a new position in shares of Ngl Energy Partners Lp during the third quarter worth about $232,000. Finally, Wade G W & Inc. boosted its position in shares of Ngl Energy Partners Lp by 13.2% in the third quarter. Wade G W & Inc. now owns 13,117 shares of the company’s stock worth $247,000 after buying an additional 1,532 shares in the last quarter. Institutional investors own 68.69% of the company’s stock.

Ngl Energy Partners Lp 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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