NGL Energy Partners (NYSE:NGL) Cut to “Hold” at Zacks Research

Zacks Research cut shares of NGL Energy Partners (NYSE:NGL) from a strong-buy rating to a hold rating in a report published on Wednesday morning,Zacks.com reports.

Separately, Weiss Ratings reissued 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, Based on data from MarketBeat, the stock has an average rating of “Hold”.

NGL Energy Partners Stock Up 0.1%

Shares of NGL Energy Partners stock opened at $12.02 on Wednesday. The company has a 50 day moving average price of $10.39 and a 200 day moving average price of $7.96. The firm has a market capitalization of $1.49 billion, a P/E ratio of 300.45 and a beta of 0.31. NGL Energy Partners has a 52 week low of $2.64 and a 52 week high of $13.00.

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

Hedge Funds Weigh In On NGL Energy Partners

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN grew its holdings in NGL Energy Partners by 9.4% during the fourth quarter. Wells Fargo & Company MN now owns 34,800 shares of the oil and gas company’s stock worth $348,000 after acquiring an additional 3,000 shares during the period. HRT Financial LP purchased a new position in shares of NGL Energy Partners during the 4th quarter valued at approximately $209,000. Wedbush Securities Inc. lifted its stake in shares of NGL Energy Partners by 124.7% in the 4th quarter. Wedbush Securities Inc. now owns 39,120 shares of the oil and gas company’s stock valued at $391,000 after purchasing an additional 21,709 shares during the period. Cowa LLC purchased a new stake in NGL Energy Partners during the fourth quarter worth $189,000. Finally, LPL Financial LLC purchased a new stake in NGL Energy Partners during the fourth quarter worth $120,000. Institutional investors and hedge funds 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.