NGL Energy Partners (NYSE:NGL) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of NGL Energy Partners (NYSE:NGL) from a hold rating to a strong sell rating in a report issued on Thursday,Zacks.com reports.

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

NGL Energy Partners Price Performance

Shares of NYSE NGL opened at $11.22 on Thursday. 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 $1.39 billion, a price-to-earnings ratio of 280.57 and a beta of 0.34. The business has a 50-day moving average of $11.20 and a two-hundred day moving average of $8.99.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. ING Groep NV grew its position in NGL Energy Partners by 229.7% during the 3rd quarter. ING Groep NV now owns 4,931,803 shares of the oil and gas company’s stock worth $29,591,000 after purchasing an additional 3,436,000 shares during the last quarter. Angelo Gordon & CO. L.P. boosted its stake in shares of NGL Energy Partners by 291.7% during the third quarter. Angelo Gordon & CO. L.P. now owns 2,504,447 shares of the oil and gas company’s stock worth $15,027,000 after buying an additional 1,865,003 shares during the period. Bank of America Corp DE grew its holdings in shares of NGL Energy Partners by 18.7% during the third quarter. Bank of America Corp DE now owns 11,728,872 shares of the oil and gas company’s stock worth $70,373,000 after buying an additional 1,843,849 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in NGL Energy Partners by 9.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,522,370 shares of the oil and gas company’s stock valued at $75,224,000 after acquiring an additional 651,779 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in NGL Energy Partners by 2,963.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 292,261 shares of the oil and gas company’s stock worth $1,754,000 after acquiring an additional 282,721 shares during the period. 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.