NGL Energy Partners (NYSE:NGL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “NGL Energy Partners LP is a limited partnership operating a vertically-integrated propane business with three operating segments: retail propane; wholesale supply and marketing; and midstream. The Retail Propane segment engages in retail marketing, sale, and distribution of propane, including the sale and lease of propane tanks, equipment, and supplies to residential, agricultural, commercial, and industrial customers through customer service locations. The Wholesale Supply and Marketing segment supplies propane and other natural gas liquids, as well as provides related storage to retailers, wholesalers, and refiners. The Midstream segment involves in the delivery of propane from pipelines or trucks to propane terminals and transfers the propane to third-party transport trucks for delivery to retailers, wholesalers, or other consumers. NGL Energy Partners LP is headquartered in Tulsa, Oklahoma. “
NGL has been the subject of several other reports. Credit Suisse Group assumed coverage on shares of NGL Energy Partners in a report on Thursday, January 4th. They issued an “outperform” rating and a $16.00 price objective for the company. Stifel Nicolaus increased their price objective on shares of NGL Energy Partners from $10.00 to $12.00 and gave the company a “hold” rating in a report on Tuesday, November 21st. ValuEngine upgraded shares of NGL Energy Partners from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $16.00 price objective (up from $14.00) on shares of NGL Energy Partners in a report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. NGL Energy Partners currently has a consensus rating of “Hold” and an average target price of $15.40.
NGL Energy Partners (NGL) traded up $0.15 during trading on Tuesday, hitting $16.60. 940,569 shares of the stock traded hands, compared to its average volume of 1,550,000. The company has a quick ratio of 0.99, a current ratio of 1.56 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $2,020.00, a PE ratio of -7.90 and a beta of 0.69. NGL Energy Partners has a twelve month low of $8.57 and a twelve month high of $25.80.
In related news, CFO Robert W. Karlovich III acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was acquired at an average cost of $11.66 per share, for a total transaction of $116,600.00. Following the completion of the acquisition, the chief financial officer now directly owns 99,320 shares of the company’s stock, valued at approximately $1,158,071.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of large investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. boosted its holdings in NGL Energy Partners by 1.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 122,535 shares of the oil and gas company’s stock worth $1,715,000 after buying an additional 1,231 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in NGL Energy Partners by 5.9% during the second quarter. Alliancebernstein L.P. now owns 22,077 shares of the oil and gas company’s stock worth $309,000 after buying an additional 1,236 shares in the last quarter. Northern Trust Corp boosted its holdings in NGL Energy Partners by 3.6% during the second quarter. Northern Trust Corp now owns 43,224 shares of the oil and gas company’s stock worth $605,000 after buying an additional 1,515 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in NGL Energy Partners by 32.0% during the second quarter. Oppenheimer & Co. Inc. now owns 14,450 shares of the oil and gas company’s stock worth $202,000 after buying an additional 3,500 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in NGL Energy Partners by 2.4% during the second quarter. Wells Fargo & Company MN now owns 239,687 shares of the oil and gas company’s stock worth $3,355,000 after buying an additional 5,538 shares in the last quarter. Hedge funds and other institutional investors own 63.82% of the company’s stock.
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NGL Energy Partners Company Profile
NGL Energy Partners LP owns and operates a vertically integrated energy business. The Company’s segments are crude oil logistics, water solutions, liquids, retail propane, refined products and renewables, and corporate and other. Its crude oil logistics segment includes owned and leased crude oil storage terminals, and owned and leased pipeline injection stations.
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