NGL Energy Partners (NYSE:NGL) Lowered to “Hold” Rating by Zacks Research

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

Separately, Weiss Ratings restated a “hold (c)” rating on shares of NGL Energy Partners in a report on Wednesday, January 28th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

NGL Energy Partners Trading Up 4.7%

NGL Energy Partners stock opened at $12.00 on Wednesday. The business’s fifty day simple moving average is $10.35 and its two-hundred day simple moving average is $7.90. NGL Energy Partners has a 12 month low of $2.64 and a 12 month high of $13.00. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 300.08 and a beta of 0.31.

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

Hedge Funds Weigh In On NGL Energy Partners

Several hedge funds and other institutional investors have recently modified their holdings of NGL. CIBC Bancorp USA Inc. bought a new stake in shares of NGL Energy Partners in the third quarter worth $70,000. CIBC Private Wealth Group LLC bought a new stake in shares of NGL Energy Partners during the 3rd quarter valued at about $70,000. LPL Financial LLC bought a new stake in shares of NGL Energy Partners during the 4th quarter valued at about $120,000. State of Wyoming purchased a new stake in shares of NGL Energy Partners during the 4th quarter valued at about $172,000. Finally, 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. 40.62% of the stock is owned by institutional investors.

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.