NGL Energy Partners (NYSE:NGL) Upgraded at Zacks Research

NGL Energy Partners (NYSE:NGL) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of NGL Energy Partners in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, NGL Energy Partners presently has an average rating of “Buy”.

NGL Energy Partners Stock Down 0.6%

Shares of NGL Energy Partners stock opened at $9.74 on Tuesday. The firm has a market cap of $1.22 billion, a PE ratio of -54.09 and a beta of 0.29. NGL Energy Partners has a 52 week low of $2.64 and a 52 week high of $10.29. The business’s fifty day simple moving average is $9.76 and its 200-day simple moving average is $6.92.

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

Institutional Trading of NGL Energy Partners

Several hedge funds have recently made changes to their positions in NGL. AlphaCore Capital LLC grew its holdings in shares of NGL Energy Partners by 28.0% in the second quarter. AlphaCore Capital LLC now owns 160,000 shares of the oil and gas company’s stock valued at $683,000 after purchasing an additional 35,000 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of NGL Energy Partners by 37.5% in the second quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 275,000 shares of the oil and gas company’s stock worth $1,174,000 after acquiring an additional 75,000 shares in the last quarter. Prescott Group Capital Management L.L.C. increased its position in shares of NGL Energy Partners by 713.1% during the second quarter. Prescott Group Capital Management L.L.C. now owns 990,638 shares of the oil and gas company’s stock worth $4,230,000 after acquiring an additional 868,800 shares during the period. ELCO Management Co. LLC raised its stake in shares of NGL Energy Partners by 26.2% in the second quarter. ELCO Management Co. LLC now owns 197,580 shares of the oil and gas company’s stock valued at $844,000 after acquiring an additional 40,960 shares in the last quarter. Finally, Carter Financial Group INC. purchased a new position in NGL Energy Partners in the second quarter valued at $277,000. Institutional investors and hedge funds own 40.62% of the company’s stock.

NGL Energy Partners Company Profile

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.