NGL Energy Partners (NYSE:NGL) Stock Rating Upgraded by Wall Street Zen

NGL Energy Partners (NYSE:NGL) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Other equities research analysts also recently issued reports about the stock. Zacks Research upgraded shares of NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Weiss Ratings downgraded NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, NGL Energy Partners has an average rating of “Buy”.

NGL Energy Partners Trading Up 0.5%

NYSE NGL opened at $16.97 on Friday. The firm’s fifty day moving average price is $15.83 and its two-hundred day moving average price is $14.21. NGL Energy Partners has a 1 year low of $4.22 and a 1 year high of $18.80. The firm has a market capitalization of $2.12 billion, a P/E ratio of -5.97 and a beta of 0.63.

NGL Energy Partners (NYSE:NGL) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.37. The company had revenue of $989.99 million during the quarter, compared to the consensus estimate of $346.13 million. NGL Energy Partners had a negative net margin of 3.76% and a negative return on equity of 39.51%. On average, research analysts anticipate that NGL Energy Partners will post 0.82 EPS for the current fiscal year.

Hedge Funds Weigh In On NGL Energy Partners

Several institutional investors and hedge funds have recently modified their holdings of the stock. CIBC Private Wealth Group LLC acquired a new stake in shares of NGL Energy Partners during the 3rd quarter worth about $70,000. CIBC Bancorp USA Inc. acquired a new position in NGL Energy Partners in the 3rd quarter valued at about $70,000. Massar Capital Management LP grew its stake in NGL Energy Partners by 23.2% in the 2nd quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company’s stock valued at $120,000 after buying an additional 5,295 shares during the last quarter. LPL Financial LLC bought a new position in NGL Energy Partners in the 4th quarter valued at about $120,000. Finally, State of Wyoming raised its holdings in NGL Energy Partners by 184.0% in the 2nd quarter. State of Wyoming now owns 32,202 shares of the oil and gas company’s stock valued at $138,000 after acquiring an additional 20,864 shares during the period. 40.62% of the stock is currently 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.