NGL Energy Partners (NYSE:NGL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.
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. “
NGL has been the subject of a number of other research reports. ValuEngine raised NGL Energy Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $16.00 price objective (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 issued a $10.00 price objective on shares of NGL Energy Partners in a research report on Sunday, October 29th. Finally, Credit Suisse Group began coverage on NGL Energy Partners in a research report on Thursday, January 4th. They issued an “outperform” rating and a $16.00 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $15.40.
NGL Energy Partners (NYSE:NGL) last announced its earnings results on Monday, November 6th. The oil and gas company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.34). NGL Energy Partners had a negative net margin of 1.40% and a negative return on equity of 4.60%. equities research analysts forecast that NGL Energy Partners will post -1.23 earnings per share for the current fiscal year.
In other NGL Energy Partners news, CFO Robert W. Karlovich III acquired 10,000 shares of the stock in a transaction dated Tuesday, November 21st. The stock was purchased at an average price of $11.66 per share, with a total value of $116,600.00. Following the transaction, the chief financial officer now directly owns 99,320 shares of the company’s stock, valued at $1,158,071.20. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its position in shares of NGL Energy Partners by 399.1% in 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 in the last quarter. Commonwealth Equity Services Inc acquired a new stake in NGL Energy Partners during the 3rd quarter worth about $117,000. Alliancebernstein L.P. lifted its position in NGL Energy Partners by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 22,077 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 1,236 shares during the period. Virtu KCG Holdings LLC acquired a new stake in NGL Energy Partners during the 2nd quarter worth about $336,000. Finally, Neuberger Berman Group LLC acquired a new stake in NGL Energy Partners during the 3rd quarter worth about $470,000. 63.82% of the stock is owned by hedge funds and other institutional investors.
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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