NGL Energy Partners (NYSE:NGL) Downgraded to Hold at StockNews.com

StockNews.com downgraded shares of NGL Energy Partners (NYSE:NGLFree Report) from a buy rating to a hold rating in a research note released on Monday morning.

NGL Energy Partners Stock Performance

NYSE NGL opened at $5.50 on Monday. The company’s 50 day simple moving average is $5.78 and its two-hundred day simple moving average is $5.54. The stock has a market capitalization of $728.82 million, a PE ratio of -2.58 and a beta of 1.67. The company has a debt-to-equity ratio of 28.52, a current ratio of 1.21 and a quick ratio of 1.07. NGL Energy Partners has a 1 year low of $3.56 and a 1 year high of $6.20.

NGL Energy Partners (NYSE:NGLGet Free Report) last posted its quarterly earnings data on Thursday, June 6th. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.57). The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.97 billion. NGL Energy Partners had a negative net margin of 2.07% and a positive return on equity of 20.54%. Analysts predict that NGL Energy Partners will post 0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NGL Energy Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of NGL. Goldman Sachs Group Inc. raised its position in shares of NGL Energy Partners by 143.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,225,500 shares of the oil and gas company’s stock valued at $29,106,000 after buying an additional 3,078,422 shares in the last quarter. Fractal Investments LLC raised its holdings in shares of NGL Energy Partners by 316.3% during the 4th quarter. Fractal Investments LLC now owns 832,479 shares of the oil and gas company’s stock valued at $4,637,000 after buying an additional 632,492 shares in the last quarter. ING Groep NV lifted its position in NGL Energy Partners by 45.6% in the 4th quarter. ING Groep NV now owns 811,000 shares of the oil and gas company’s stock worth $4,517,000 after buying an additional 253,900 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in NGL Energy Partners by 3.4% in the first quarter. BNP Paribas Financial Markets now owns 585,490 shares of the oil and gas company’s stock worth $3,372,000 after buying an additional 19,373 shares in the last quarter. Finally, NBW Capital LLC grew its position in NGL Energy Partners by 11.2% during the fourth quarter. NBW Capital LLC now owns 312,081 shares of the oil and gas company’s stock valued at $1,738,000 after acquiring an additional 31,332 shares during the last quarter. Hedge funds and other institutional investors own 40.62% of the company’s stock.

NGL Energy Partners Company Profile

(Get Free Report)

NGL Energy Partners LP engages in the transportation, storage, blending, and marketing of crude oil, natural gas liquids, refined products / renewables, and water solutions. The company operates in three segments: Water Solutions, Crude Oil Logistics, and Liquids Logistics. The Water Solutions segment transports, treats, recycles, and disposes produced and flowback water generated from oil and natural gas production; aggregates and sells recovered crude oil; disposes solids, such as tank bottoms, and drilling fluid and muds, as well as performs truck and frac tank washouts; and sells produced water for reuse and recycle, and brackish non-potable water.

Further Reading

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