NGL Energy Partners (NYSE:NGL) Raised to “Buy” at Zacks Investment Research

NGL Energy Partners (NYSE:NGLGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, reports. The firm presently has a $2.25 price objective on the oil and gas company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 17.80% from the stock’s current price.

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. “

Separately, began coverage on shares of NGL Energy Partners in a research report on Thursday, March 31st. They set a “hold” rating for the company.

NGL Energy Partners stock opened at $1.91 on Wednesday. NGL Energy Partners has a one year low of $1.38 and a one year high of $3.21. The stock has a fifty day moving average of $2.22 and a 200 day moving average of $2.18. The company has a debt-to-equity ratio of 8.63, a quick ratio of 0.99 and a current ratio of 1.27. The stock has a market cap of $248.27 million, a PE ratio of -0.51 and a beta of 2.22.

NGL Energy Partners (NYSE:NGLGet Rating) last released its quarterly earnings results on Wednesday, February 9th. The oil and gas company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.48). NGL Energy Partners had a negative net margin of 6.04% and a negative return on equity of 28.00%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the firm earned ($0.32) earnings per share. As a group, sell-side analysts predict that NGL Energy Partners will post -0.54 EPS for the current fiscal year.

In related news, CEO H Michael Krimbill purchased 100,000 shares of NGL Energy Partners stock in a transaction on Tuesday, March 15th. The stock was acquired at an average price of $2.12 per share, for a total transaction of $212,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Several institutional investors and hedge funds have recently bought and sold shares of NGL. Wells Fargo & Company MN raised its position in shares of NGL Energy Partners by 53.8% during the 2nd quarter. Wells Fargo & Company MN now owns 61,282 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 21,448 shares during the period. Morgan Stanley lifted its holdings in shares of NGL Energy Partners by 12.7% in the second quarter. Morgan Stanley now owns 7,319,932 shares of the oil and gas company’s stock worth $17,420,000 after buying an additional 827,157 shares in the last quarter. Barclays PLC boosted its position in shares of NGL Energy Partners by 103.1% during the third quarter. Barclays PLC now owns 1,072,914 shares of the oil and gas company’s stock worth $2,543,000 after acquiring an additional 544,694 shares during the last quarter. Citigroup Inc. grew its stake in NGL Energy Partners by 58.8% during the third quarter. Citigroup Inc. now owns 376,455 shares of the oil and gas company’s stock valued at $892,000 after acquiring an additional 139,354 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in NGL Energy Partners by 38.9% during the third quarter. Goldman Sachs Group Inc. now owns 650,377 shares of the oil and gas company’s stock valued at $1,541,000 after acquiring an additional 182,190 shares in the last quarter. Institutional investors and hedge funds own 30.23% of the company’s stock.

NGL Energy Partners Company Profile (Get Rating)

NGL Energy Partners LP engages in the crude oil and liquids logistics, and water solution businesses. The company's Crude Oil Logistics segment purchases crude oil from producers and marketers, and transports it to refineries for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs; and provides storage, terminaling, and pipeline transportation services.

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