NGL Energy Partners (NGL) Downgraded by ValuEngine to Sell

NGL Energy Partners (NYSE:NGL) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Friday.

A number of other research analysts have also recently weighed in on NGL. Stifel Nicolaus reaffirmed a “hold” rating and set a $10.00 price objective on shares of NGL Energy Partners in a research report on Sunday, October 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $16.00 price objective (up from $14.00) on shares of NGL Energy Partners in a research report on Tuesday, November 7th. Zacks Investment Research cut NGL Energy Partners from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. Finally, Credit Suisse Group started coverage on NGL Energy Partners in a research report on Thursday, January 4th. They set an “outperform” rating and a $16.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $15.40.

Shares of NGL Energy Partners (NGL) traded down $2.65 during trading hours on Friday, reaching $12.75. The company’s stock had a trading volume of 3,913,830 shares, compared to its average volume of 779,368. The stock has a market capitalization of $1,550.00, a PE ratio of -6.07 and a beta of 0.79. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.56 and a quick ratio of 0.99. NGL Energy Partners has a fifty-two week low of $8.57 and a fifty-two week high of $24.60.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings data on Monday, November 6th. The oil and gas company reported ($0.60) earnings per share for the quarter, missing the Zacks’ 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%. The company had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.22 billion. equities analysts forecast that NGL Energy Partners will post -1.23 earnings per share for the current year.

In related news, CFO Robert W. Karlovich III acquired 10,000 shares of the stock in a transaction dated Tuesday, November 21st. The shares were purchased at an average cost 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 in the company, valued at $1,158,071.20. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

A number of hedge funds and other institutional investors have recently bought and sold shares of NGL. Alps Advisors Inc. purchased a new position in NGL Energy Partners in the 4th quarter worth approximately $130,044,000. HITE Hedge Asset Management LLC lifted its holdings in NGL Energy Partners by 414.8% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 2,818,082 shares of the oil and gas company’s stock worth $32,549,000 after purchasing an additional 2,270,714 shares in the last quarter. Advisory Research Inc. lifted its holdings in NGL Energy Partners by 57.7% in the 4th quarter. Advisory Research Inc. now owns 3,611,015 shares of the oil and gas company’s stock worth $50,735,000 after purchasing an additional 1,320,600 shares in the last quarter. Brightline Capital Management LLC purchased a new position in NGL Energy Partners in the 4th quarter worth approximately $9,133,000. Finally, JPMorgan Chase & Co. lifted its holdings in NGL Energy Partners by 34.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,352,179 shares of the oil and gas company’s stock worth $25,874,000 after purchasing an additional 599,612 shares in the last quarter. 63.40% of the stock is currently owned by institutional investors.

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NGL Energy Partners 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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