NGL Energy Partners LP (NGL) Lowered to “Hold” at Zacks Investment Research
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. “
Several other equities research analysts have also recently issued reports on the company. FBR & Co began coverage on NGL Energy Partners in a research note on Friday, September 9th. They set a market perform rating and a $21.00 target price for the company. Stifel Nicolaus raised their target price on NGL Energy Partners from $18.00 to $20.00 and gave the stock a buy rating in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. NGL Energy Partners currently has a consensus rating of Hold and an average price target of $14.44.
Shares of NGL Energy Partners (NYSE:NGL) opened at 19.19 on Wednesday. NGL Energy Partners has a 52 week low of $5.57 and a 52 week high of $20.92. The stock’s market capitalization is $2.02 billion. The company’s 50 day moving average price is $18.33 and its 200-day moving average price is $16.09.
NGL Energy Partners (NYSE:NGL) last posted its earnings results on Thursday, August 4th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $1.50. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.48 billion. Equities research analysts predict that NGL Energy Partners will post $2.56 EPS for the current year.
In other news, CEO H Michael Krimbill bought 20,000 shares of NGL Energy Partners stock in a transaction dated Thursday, September 15th. The stock was acquired at an average cost of $17.31 per share, with a total value of $346,200.00. Following the acquisition, the chief executive officer now owns 789,417 shares of the company’s stock, valued at $13,664,808.27. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.
Hedge funds have recently bought and sold shares of the stock. BB&T Securities LLC increased its stake in NGL Energy Partners by 10.7% in the first quarter. BB&T Securities LLC now owns 28,010 shares of the company’s stock valued at $210,000 after buying an additional 2,700 shares during the last quarter. State Street Corp boosted its position in shares of NGL Energy Partners by 3.9% in the first quarter. State Street Corp now owns 66,970 shares of the company’s stock valued at $504,000 after buying an additional 2,506 shares during the period. Rafferty Asset Management LLC boosted its position in shares of NGL Energy Partners by 21.7% in the first quarter. Rafferty Asset Management LLC now owns 154,735 shares of the company’s stock valued at $1,164,000 after buying an additional 27,577 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of NGL Energy Partners by 187.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,328,740 shares of the company’s stock valued at $9,992,000 after buying an additional 867,164 shares during the period. Finally, Mariner Wealth Advisors LLC boosted its position in shares of NGL Energy Partners by 25.0% in the first quarter. Mariner Wealth Advisors LLC now owns 381,603 shares of the company’s stock valued at $2,870,000 after buying an additional 76,301 shares during the period.
NGL Energy Partners Company Profile
NGL Energy Partners LP owns and operates a vertically integrated energy business. The Company’s segments are crude oil logistics, water solutions, liquids, retail propane, refined products and renewables, and corporate and other. Its crude oil logistics segment includes owned and leased crude oil storage terminals, and owned and leased pipeline injection stations.
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