NGL Energy Partners (NYSE:NGL) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of NGL Energy Partners (NYSE:NGL) from a buy rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

Several other research analysts have also weighed in on NGL. Weiss Ratings lowered NGL Energy Partners from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 30th. Zacks Research lowered NGL Energy Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, NGL Energy Partners presently has an average rating of “Reduce”.

NGL Energy Partners Stock Performance

NYSE:NGL traded down $0.46 during trading hours on Friday, hitting $15.17. The stock had a trading volume of 169,421 shares, compared to its average volume of 226,722. NGL Energy Partners has a one year low of $8.62 and a one year high of $19.06. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -4.50 and a beta of 0.89. The business’s 50 day moving average is $15.88 and its 200-day moving average is $15.04.

NGL Energy Partners (NYSE:NGL) last announced its quarterly earnings results on Thursday, November 5th. The oil and gas company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.73). NGL Energy Partners had a negative return on equity of 35.53% and a negative net margin of 5.37%. The firm had revenue of $986.55 million for the quarter, compared to the consensus estimate of $869.29 million. On average, sell-side analysts anticipate that NGL Energy Partners will post 1.38 EPS for the current fiscal year.

Insider Activity at NGL Energy Partners

In related news, Director James Collingsworth bought 2,289 shares of NGL Energy Partners stock in a transaction that occurred on Thursday, August 27th. The stock was purchased at an average cost of $17.00 per share, with a total value of $38,913.00. Following the purchase, the director owned 766,797 shares in the company, valued at approximately $13,035,549. This trade represents a 0.30% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John T. Raymond bought 300,000 shares of the stock in a transaction on Tuesday, August 25th. The shares were purchased at an average price of $16.98 per share, with a total value of $5,094,000.00. Following the acquisition, the director owned 376,626 shares in the company, valued at approximately $6,395,109.48. This represents a 391.51% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 339,923 shares of company stock valued at $5,750,003. 7.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NGL. Corient Private Wealth LP acquired a new stake in NGL Energy Partners in the 2nd quarter valued at approximately $159,000. Quartz Partners LLC lifted its stake in NGL Energy Partners by 6.8% in the 1st quarter. Quartz Partners LLC now owns 16,504 shares of the oil and gas company’s stock valued at $203,000 after acquiring an additional 1,052 shares in the last quarter. Arkadios Wealth Advisors acquired a new position in NGL Energy Partners during the 1st quarter worth approximately $228,000. Segall Bryant & Hamill LLC bought a new position in shares of NGL Energy Partners during the 1st quarter worth approximately $397,000. Finally, State of Wyoming grew its stake in shares of NGL Energy Partners by 156.2% during the 1st quarter. State of Wyoming now owns 44,173 shares of the oil and gas company’s stock worth $545,000 after acquiring an additional 26,930 shares in the last quarter. 40.62% of the stock is currently owned by institutional investors.

NGL Energy Partners Company Profile

NGL Energy Partners LP is a U.S. midstream energy company that provides transportation, storage, processing and marketing services for crude oil, water and natural gas liquids. Its operations support energy producers and customers across the energy supply chain. The partnership’s activities include gathering and transporting crude oil, as well as managing produced and flowback water through transportation, treatment, recycling and disposal services. It also markets and handles products such as propane, butane and refined fuels, using related storage and logistics infrastructure.