NGL Energy Partners (NYSE:NGL) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of NGL Energy Partners (NYSE:NGL) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of NGL Energy Partners in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, NGL Energy Partners has an average rating of “Buy”.

NGL Energy Partners Price Performance

Shares of NGL Energy Partners stock opened at $9.74 on Tuesday. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -54.09 and a beta of 0.29. NGL Energy Partners has a 1 year low of $2.64 and a 1 year high of $10.29. The firm’s 50-day moving average is $9.76 and its 200 day moving average is $6.92.

NGL Energy Partners (NYSE:NGL) last issued its earnings results on Tuesday, November 4th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter. NGL Energy Partners had a net margin of 3.29% and a negative return on equity of 53.56%. The firm had revenue of $674.68 million for the quarter, compared to the consensus estimate of $508.49 million. On average, equities analysts expect that NGL Energy Partners will post -0.22 EPS for the current fiscal year.

Institutional Trading of NGL Energy Partners

Several large investors have recently modified their holdings of the company. Everpar Advisors LLC lifted its holdings in NGL Energy Partners by 6.5% in the fourth quarter. Everpar Advisors LLC now owns 24,500 shares of the oil and gas company’s stock valued at $245,000 after acquiring an additional 1,500 shares during the period. CreativeOne Wealth LLC lifted its stake in shares of NGL Energy Partners by 15.7% in the 2nd quarter. CreativeOne Wealth LLC now owns 17,700 shares of the oil and gas company’s stock worth $76,000 after purchasing an additional 2,400 shares during the period. Massar Capital Management LP boosted its holdings in shares of NGL Energy Partners by 23.2% in the second quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company’s stock worth $120,000 after buying an additional 5,295 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of NGL Energy Partners in the third quarter worth approximately $70,000. Finally, CIBC Private Wealth Group LLC bought a new stake in NGL Energy Partners during the third quarter valued at approximately $70,000. 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.