NGL Energy Partners (NGL) Raised to “Hold” at ValuEngine
ValuEngine upgraded shares of NGL Energy Partners (NYSE:NGL) from a sell rating to a hold rating in a research report released on Wednesday morning.
Several other equities research analysts have also recently weighed in on the company. Royal Bank of Canada reiterated an outperform rating and issued a $16.00 price objective (up previously from $14.00) on shares of NGL Energy Partners in a report on Tuesday, November 7th. Zacks Investment Research cut NGL Energy Partners from a hold rating to a sell rating in a report on Friday, November 10th. Finally, Stifel Nicolaus reiterated a hold rating and issued a $10.00 price objective on shares of NGL Energy Partners in a report on Sunday, October 29th. Two 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’s stock. The company currently has an average rating of Hold and a consensus target price of $16.83.
Shares of NGL Energy Partners (NYSE NGL) opened at $15.50 on Wednesday. NGL Energy Partners has a fifty-two week low of $8.57 and a fifty-two week high of $25.80. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.56 and a quick ratio of 0.99. The firm has a market capitalization of $1,880.00, a P/E ratio of -7.38 and a beta of 0.69.
In other news, CFO Robert W. Karlovich III bought 10,000 shares of the stock in a transaction dated Tuesday, November 21st. The stock was bought at an average price of $11.66 per share, for a total transaction of $116,600.00. Following the purchase, the chief financial officer now directly owns 99,320 shares in the company, valued at approximately $1,158,071.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its stake 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 valued at $104,000 after purchasing an additional 7,183 shares during the period. Commonwealth Equity Services Inc purchased a new position in shares of NGL Energy Partners in the 3rd quarter valued at approximately $117,000. Oppenheimer & Co. Inc. lifted its stake in shares of NGL Energy Partners by 32.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,450 shares of the oil and gas company’s stock valued at $202,000 after purchasing an additional 3,500 shares during the period. HAP Trading LLC purchased a new position in shares of NGL Energy Partners in the 2nd quarter valued at approximately $221,000. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of NGL Energy Partners by 44.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 19,950 shares of the oil and gas company’s stock valued at $279,000 after purchasing an additional 6,131 shares during the period. Institutional investors own 63.82% of the company’s stock.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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