NGL Energy Partners (NYSE:NGL) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of NGL Energy Partners (NYSE:NGLGet Rating) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Zacks.com reports. They currently have $2.25 price target on the oil and gas company’s stock.

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. “

Separately, StockNews.com started coverage on shares of NGL Energy Partners in a research note on Thursday, March 31st. They set a hold rating for the company.

Shares of NYSE NGL opened at $1.95 on Wednesday. The company has a debt-to-equity ratio of 8.63, a current ratio of 1.27 and a quick ratio of 0.99. NGL Energy Partners has a 52-week low of $1.38 and a 52-week high of $3.21. The business’s 50 day moving average is $2.19 and its two-hundred day moving average is $2.17.

NGL Energy Partners (NYSE:NGLGet Rating) last announced its earnings results on Wednesday, February 9th. The oil and gas company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.48). The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $1.64 billion. NGL Energy Partners had a negative net margin of 6.04% and a negative return on equity of 28.00%. During the same period in the previous year, the firm earned ($0.32) EPS. Sell-side analysts expect that NGL Energy Partners will post -0.54 EPS for the current fiscal year.

In related news, CEO H Michael Krimbill acquired 100,000 shares of the firm’s stock in a transaction on Tuesday, March 15th. The stock was bought at an average price of $2.12 per share, for a total transaction of $212,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC boosted its stake in NGL Energy Partners by 36.0% in the first quarter. HighTower Advisors LLC now owns 90,801 shares of the oil and gas company’s stock valued at $201,000 after acquiring an additional 24,051 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its stake in NGL Energy Partners by 100.6% in the first quarter. Kayne Anderson Capital Advisors LP now owns 63,000 shares of the oil and gas company’s stock valued at $140,000 after acquiring an additional 31,600 shares in the last quarter. GSA Capital Partners LLP boosted its stake in NGL Energy Partners by 348.1% in the first quarter. GSA Capital Partners LLP now owns 350,607 shares of the oil and gas company’s stock valued at $778,000 after acquiring an additional 272,370 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC acquired a new position in NGL Energy Partners in the first quarter valued at $35,000. Finally, Carter Financial Group INC. acquired a new position in NGL Energy Partners in the first quarter valued at $103,000. Institutional investors own 30.23% of the company’s stock.

About NGL Energy Partners (Get Rating)

NGL Energy Partners LP engages in the crude oil and liquids logistics, and water solution businesses. The company's Crude Oil Logistics segment purchases crude oil from producers and marketers, and transports it to refineries for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs; and provides storage, terminaling, and pipeline transportation services.

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