Zacks Investment Research cut shares of Ngl Energy Partners Lp (NYSE:NGL) from a hold rating to a sell rating in a report issued 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 research analysts have also issued reports on the stock. Royal Bank Of Canada reiterated an outperform rating and issued a $16.00 price target (up from $14.00) on shares of Ngl Energy Partners Lp in a research note on Tuesday, November 7th. Stifel Nicolaus reiterated a hold rating and issued a $10.00 price target on shares of Ngl Energy Partners Lp in a research note on Sunday, October 29th. TheStreet lowered shares of Ngl Energy Partners Lp from a c- rating to a d+ rating in a research note on Tuesday, August 15th. UBS AG decreased their price target on shares of Ngl Energy Partners Lp from $18.00 to $14.00 and set a buy rating for the company in a research note on Friday, August 4th. Finally, BidaskClub lowered shares of Ngl Energy Partners Lp from a sell rating to a strong sell rating in a research note on Thursday, July 27th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Ngl Energy Partners Lp presently has a consensus rating of Hold and an average target price of $17.50.

Ngl Energy Partners Lp (NGL) opened at $12.70 on Friday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.99 and a current ratio of 1.56. Ngl Energy Partners Lp has a 12 month low of $8.57 and a 12 month high of $25.80.

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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Monday, November 6th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 12.28%. Ngl Energy Partners Lp’s dividend payout ratio is currently -74.29%.

Ngl Energy Partners Lp announced that its board has authorized a share repurchase plan on Tuesday, August 29th that permits the company to buyback $15.00 million in shares. This buyback authorization permits the oil and gas company to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

In other news, CEO H Michael Krimbill acquired 75,000 shares of Ngl Energy Partners Lp stock in a transaction on Monday, September 11th. The stock was acquired at an average cost of $8.86 per share, for a total transaction of $664,500.00. Following the purchase, the chief executive officer now owns 814,417 shares in the company, valued at $7,215,734.62. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

A number of large investors have recently added to or reduced their stakes in the business. Alps Advisors Inc. increased its stake in Ngl Energy Partners Lp by 5.5% during the 2nd quarter. Alps Advisors Inc. now owns 8,150,982 shares of the oil and gas company’s stock valued at $114,114,000 after purchasing an additional 427,126 shares in the last quarter. Harvest Fund Advisors LLC boosted its holdings in shares of Ngl Energy Partners Lp by 6.8% during the 3rd quarter. Harvest Fund Advisors LLC now owns 7,090,961 shares of the oil and gas company’s stock valued at $81,901,000 after acquiring an additional 449,855 shares during the last quarter. Eagle Global Advisors LLC boosted its holdings in shares of Ngl Energy Partners Lp by 0.5% during the 2nd quarter. Eagle Global Advisors LLC now owns 3,153,949 shares of the oil and gas company’s stock valued at $44,155,000 after acquiring an additional 15,910 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Ngl Energy Partners Lp by 20.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,073,412 shares of the oil and gas company’s stock valued at $43,028,000 after acquiring an additional 515,730 shares during the last quarter. Finally, HITE Hedge Asset Management LLC boosted its holdings in shares of Ngl Energy Partners Lp by 414.8% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 2,818,082 shares of the oil and gas company’s stock valued at $32,549,000 after acquiring an additional 2,270,714 shares during the last quarter. Institutional investors and hedge funds own 61.19% of the company’s stock.

About Ngl Energy Partners Lp

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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