NGL Energy Partners (NYSE:NGL) Cut to “Strong Sell” at Zacks Research

NGL Energy Partners (NYSE:NGL) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of NGL Energy Partners in a research note on Wednesday, January 28th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, NGL Energy Partners presently has a consensus rating of “Reduce”.

NGL Energy Partners Stock Up 2.0%

NGL opened at $11.22 on Thursday. The company has a market cap of $1.39 billion, a P/E ratio of 280.57 and a beta of 0.34. NGL Energy Partners has a 52-week low of $2.64 and a 52-week high of $13.00. The firm’s 50-day moving average price is $11.20 and its 200-day moving average price is $8.96.

NGL Energy Partners (NYSE:NGL) last announced its 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). NGL Energy Partners had a net margin of 5.01% and a negative return on equity of 66.52%. The company had revenue of $909.82 million during the quarter, compared to analyst estimates of $700.76 million. On average, research analysts anticipate that NGL Energy Partners will post -0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On NGL Energy Partners

Several hedge funds have recently modified their holdings of the company. CIBC Bancorp USA Inc. acquired a new stake in NGL Energy Partners in the 3rd quarter worth about $70,000. CIBC Private Wealth Group LLC purchased a new position in NGL Energy Partners in the third quarter valued at about $70,000. CreativeOne Wealth LLC boosted its holdings in 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 acquiring an additional 2,400 shares during the period. Massar Capital Management LP lifted its position in shares of NGL Energy Partners by 23.2% during the second quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company’s stock worth $120,000 after purchasing an additional 5,295 shares in the last quarter. Finally, LPL Financial LLC acquired a new position in shares of NGL Energy Partners in the fourth quarter worth about $120,000. 40.62% of the stock is owned by institutional investors and hedge funds.

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.