NGL Energy Partners (NYSE:NGL) Downgraded to Hold Rating by Zacks Research

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

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of NGL Energy Partners in a report on Wednesday, January 28th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

NGL Energy Partners Stock Performance

Shares of NGL stock opened at $12.00 on Wednesday. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 300.08 and a beta of 0.31. NGL Energy Partners has a one year low of $2.64 and a one year high of $13.00. The company has a 50 day moving average price of $10.35 and a 200 day moving average price of $7.90.

NGL Energy Partners (NYSE:NGL) last announced its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). The company had revenue of $909.82 million during the quarter, compared to analyst estimates of $700.76 million. NGL Energy Partners had a net margin of 5.01% and a negative return on equity of 66.52%. As a group, equities analysts forecast that NGL Energy Partners will post -0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On NGL Energy Partners

Several hedge funds and other institutional investors have recently made changes to their positions in NGL. HRT Financial LP acquired a new stake in NGL Energy Partners in the 4th quarter valued at $209,000. Wedbush Securities Inc. lifted its stake in shares of NGL Energy Partners by 124.7% during the fourth quarter. Wedbush Securities Inc. now owns 39,120 shares of the oil and gas company’s stock worth $391,000 after purchasing an additional 21,709 shares in the last quarter. Cowa LLC purchased a new stake in shares of NGL Energy Partners in the fourth quarter worth about $189,000. LPL Financial LLC acquired a new stake in shares of NGL Energy Partners in the fourth quarter valued at about $120,000. Finally, JPMorgan Chase & Co. grew its stake in shares of NGL Energy Partners by 0.9% in the fourth quarter. JPMorgan Chase & Co. now owns 3,069,571 shares of the oil and gas company’s stock valued at $30,696,000 after buying an additional 28,659 shares in the last quarter. 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.