Zacks Research Downgrades NGL Energy Partners (NYSE:NGL) to Hold

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

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NGL Energy Partners in a report on Wednesday, January 28th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, NGL Energy Partners currently has an average rating of “Hold”.

NGL Energy Partners Price Performance

Shares of NYSE:NGL opened at $12.00 on Wednesday. The business’s 50 day simple moving average is $10.35 and its 200 day simple moving average is $7.90. NGL Energy Partners has a 1 year low of $2.64 and a 1 year high of $13.00. The company has a market capitalization of $1.49 billion, a P/E ratio of 300.08 and a beta of 0.31.

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

Institutional Investors Weigh In On NGL Energy Partners

Institutional investors have recently made changes to their positions in the stock. Everpar Advisors LLC boosted its holdings in NGL Energy Partners by 6.5% in the fourth quarter. Everpar Advisors LLC now owns 24,500 shares of the oil and gas company’s stock valued at $245,000 after acquiring an additional 1,500 shares during the last quarter. CreativeOne Wealth LLC increased its position in shares of NGL Energy Partners by 15.7% during the second quarter. CreativeOne Wealth LLC now owns 17,700 shares of the oil and gas company’s stock worth $76,000 after acquiring an additional 2,400 shares in the last quarter. Massar Capital Management LP increased its holdings in 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 worth $120,000 after purchasing an additional 5,295 shares in the last quarter. UBS Group AG grew its holdings in NGL Energy Partners by 4.4% during the fourth quarter. UBS Group AG now owns 204,704 shares of the oil and gas company’s stock worth $2,047,000 after buying an additional 8,561 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of NGL Energy Partners in the third quarter valued at about $70,000. Institutional investors own 40.62% of the company’s stock.

NGL Energy Partners Company Profile

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.