Ngl Energy Partners Lp (NGL) Stock Rating Upgraded by Zacks Investment Research
Ngl Energy Partners Lp (NYSE:NGL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
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 have also recently commented on NGL. BidaskClub cut Ngl Energy Partners Lp from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. UBS AG decreased their price target on Ngl Energy Partners Lp from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. TheStreet cut Ngl Energy Partners Lp from a “c-” rating to a “d+” rating in a research note on Tuesday, August 15th. Stifel Nicolaus decreased their price target on Ngl Energy Partners Lp from $13.00 to $10.00 and set a “hold” rating on the stock in a research note on Wednesday, August 16th. Finally, Royal Bank Of Canada decreased their price target on Ngl Energy Partners Lp from $20.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $18.57.
Shares of Ngl Energy Partners Lp (NGL) traded down 1.36% during midday trading on Tuesday, hitting $10.85. The stock had a trading volume of 649,530 shares. The firm’s market cap is $1.32 billion. The firm’s 50 day moving average price is $9.79 and its 200 day moving average price is $14.91. Ngl Energy Partners Lp has a 52-week low of $8.57 and a 52-week high of $25.80.
Ngl Energy Partners Lp (NYSE:NGL) last released its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.21). Ngl Energy Partners Lp had a negative net margin of 0.73% and a negative return on equity of 5.00%. The business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $2.59 billion. On average, equities research analysts expect that Ngl Energy Partners Lp will post $0.14 earnings per share for the current year.
Ngl Energy Partners Lp announced that its board has authorized a share repurchase program on Tuesday, August 29th that authorizes the company to buyback $15.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
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In other Ngl Energy Partners Lp news, CEO H Michael Krimbill bought 75,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were purchased at an average price of $8.86 per share, with a total value of $664,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 814,417 shares of the company’s stock, valued at approximately $7,215,734.62. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Large investors have recently bought and sold shares of the stock. Penserra Capital Management LLC increased its holdings in Ngl Energy Partners Lp by 410.9% in the second quarter. Penserra Capital Management LLC now owns 10,151 shares of the oil and gas company’s stock valued at $141,000 after buying an additional 8,164 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in Ngl Energy Partners Lp by 32.0% in the second quarter. Oppenheimer & Co. Inc. now owns 14,450 shares of the oil and gas company’s stock valued at $202,000 after buying an additional 3,500 shares during the last quarter. CFO4Life Group LLC purchased a new position in Ngl Energy Partners Lp in the first quarter valued at $208,000. Proficio Capital Partners LLC increased its holdings in Ngl Energy Partners Lp by 68.9% in the second quarter. Proficio Capital Partners LLC now owns 16,990 shares of the oil and gas company’s stock valued at $208,000 after buying an additional 6,932 shares during the last quarter. Finally, HAP Trading LLC purchased a new position in Ngl Energy Partners Lp in the second quarter valued at $221,000. 70.19% of the stock is currently owned by hedge funds and other institutional investors.
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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