NGL Energy Partners (NYSE:NGL) Stock Rating Lowered by Zacks Research

NGL Energy Partners (NYSE:NGL) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NGL Energy Partners in a research note on Wednesday, January 28th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

NGL Energy Partners Stock Up 2.0%

Shares of NGL Energy Partners stock opened at $11.22 on Thursday. The firm’s 50-day moving average price is $11.20 and its two-hundred day moving average price is $8.96. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 280.57 and a beta of 0.34. NGL Energy Partners has a 12-month low of $2.64 and a 12-month high of $13.00.

NGL Energy Partners (NYSE:NGL) last announced its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.06). The firm had revenue of $909.82 million for the quarter, compared to analyst estimates of $700.76 million. NGL Energy Partners had a net margin of 5.01% and a negative return on equity of 66.52%. On average, sell-side analysts expect that NGL Energy Partners will post -0.22 earnings per share for the current year.

Hedge Funds Weigh In On NGL Energy Partners

Several institutional investors have recently bought and sold shares of the company. CIBC Bancorp USA Inc. purchased a new stake in shares of NGL Energy Partners in the third quarter worth about $70,000. CIBC Private Wealth Group LLC purchased a new stake in NGL Energy Partners in the 3rd quarter worth approximately $70,000. CreativeOne Wealth LLC boosted its holdings in NGL Energy Partners by 15.7% in the 2nd quarter. CreativeOne Wealth LLC now owns 17,700 shares of the oil and gas company’s stock valued at $76,000 after purchasing an additional 2,400 shares during the period. Massar Capital Management LP grew its position in shares of NGL Energy Partners by 23.2% during the 2nd quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company’s stock valued at $120,000 after purchasing an additional 5,295 shares in the last quarter. Finally, LPL Financial LLC bought a new position in shares of NGL Energy Partners in the fourth quarter worth $120,000. Hedge funds and other institutional investors own 40.62% of the company’s stock.

About NGL Energy Partners

NGL Energy Partners LP is a publicly traded master limited partnership that provides midstream infrastructure and marketing services for the energy industry. The company focuses on the transportation, storage, fractionation and marketing of natural gas liquids (NGLs) and refined petroleum products. Through its integrated operations, NGL Energy Partners serves producers, processors, refiners and industrial customers across key U.S. energy-producing regions.

The partnership’s asset base includes pipelines, storage terminals, fractionation plants, and distribution facilities.