Zacks Research Upgrades NGL Energy Partners (NYSE:NGL) to Strong-Buy

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

Separately, Weiss Ratings downgraded shares of NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy”.

NGL Energy Partners Stock Down 0.8%

NGL Energy Partners stock opened at $15.24 on Tuesday. NGL Energy Partners has a 52 week low of $3.94 and a 52 week high of $18.80. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -4.65 and a beta of 0.60. The stock has a 50-day moving average price of $16.27 and a 200 day moving average price of $13.47.

NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings results on Thursday, May 28th. The oil and gas company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.89). NGL Energy Partners had a negative return on equity of 47.64% and a negative net margin of 4.51%.The business had revenue of $949.51 million during the quarter, compared to analyst estimates of $941.52 million. Research analysts anticipate that NGL Energy Partners will post 0.82 EPS for the current fiscal year.

NGL Energy Partners declared that its board has authorized a stock buyback program on Thursday, April 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 6.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Trading of NGL Energy Partners

Several large investors have recently bought and sold shares of the business. Segall Bryant & Hamill LLC acquired a new stake in NGL Energy Partners in the 1st quarter valued at about $397,000. Arkadios Wealth Advisors purchased a new position in NGL Energy Partners in the 1st quarter worth approximately $228,000. State of Wyoming boosted its holdings in shares of NGL Energy Partners by 156.2% during the 1st quarter. State of Wyoming now owns 44,173 shares of the oil and gas company’s stock worth $545,000 after purchasing an additional 26,930 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of NGL Energy Partners by 2.6% during the 1st quarter. Cetera Investment Advisers now owns 250,049 shares of the oil and gas company’s stock worth $3,083,000 after purchasing an additional 6,380 shares during the last quarter. Finally, Quartz Partners LLC grew its position in shares of NGL Energy Partners by 6.8% in the first quarter. Quartz Partners LLC now owns 16,504 shares of the oil and gas company’s stock valued at $203,000 after purchasing an additional 1,052 shares in the last quarter. Hedge funds and other institutional investors 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.