Shares of NGL Energy Partners LP (NYSE:NGL) have been given an average rating of “Buy” by the nine ratings firms that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $14.50.
A number of research analysts have recently commented on the stock. Guggenheim assumed coverage on shares of NGL Energy Partners in a research report on Sunday, December 9th. They issued a “buy” rating and a $16.00 price objective for the company. ValuEngine raised shares of NGL Energy Partners from a “sell” rating to a “hold” rating in a report on Sunday, September 30th. Zacks Investment Research raised shares of NGL Energy Partners from a “strong sell” rating to a “hold” rating in a report on Thursday, November 15th. Wells Fargo & Co reduced their target price on shares of NGL Energy Partners from $14.00 to $11.00 and set a “market perform” rating for the company in a report on Monday, September 24th. Finally, Bank of America set a $15.00 target price on shares of NGL Energy Partners and gave the stock a “buy” rating in a report on Wednesday, November 7th.
In other NGL Energy Partners news, CEO H Michael Krimbill acquired 30,000 shares of the company’s stock in a transaction on Tuesday, November 27th. The stock was acquired at an average price of $9.59 per share, for a total transaction of $287,700.00. Following the purchase, the chief executive officer now directly owns 1,131,417 shares of the company’s stock, valued at $10,850,289.03. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Large investors have recently modified their holdings of the company. Glenmede Trust Co. NA grew its holdings in NGL Energy Partners by 105.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 67,927 shares of the oil and gas company’s stock worth $787,000 after acquiring an additional 34,893 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in shares of NGL Energy Partners during the 3rd quarter valued at $2,877,000. Virtus Alternative Investment Advisers Inc. acquired a new position in shares of NGL Energy Partners during the 3rd quarter valued at $4,814,000. Virtus ETF Advisers LLC acquired a new position in shares of NGL Energy Partners during the 3rd quarter valued at $11,207,000. Finally, OppenheimerFunds Inc. lifted its position in shares of NGL Energy Partners by 2.4% during the 3rd quarter. OppenheimerFunds Inc. now owns 17,525,935 shares of the oil and gas company’s stock valued at $203,301,000 after acquiring an additional 404,637 shares during the period. Institutional investors own 62.71% of the company’s stock.
NGL traded down $0.44 during mid-day trading on Friday, hitting $10.52. The stock had a trading volume of 21,786 shares, compared to its average volume of 1,174,476. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.75 and a current ratio of 1.08. The firm has a market cap of $1.38 billion, a PE ratio of -15.44 and a beta of 1.03. NGL Energy Partners has a 1-year low of $8.71 and a 1-year high of $17.65.
NGL Energy Partners (NYSE:NGL) last released its earnings results on Thursday, November 8th. The oil and gas company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.64). The business had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $4.83 billion. NGL Energy Partners had a net margin of 1.40% and a negative return on equity of 1.57%. Equities analysts forecast that NGL Energy Partners will post -0.81 EPS for the current fiscal year.
About NGL Energy Partners
NGL Energy Partners LP, together with its subsidiaries, engages in the crude oil logistics, water solutions, liquids, retail propane, and refined products and renewables businesses. The Crude Oil Logistics segment purchases crude oil from producers and transports it to refineries for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs; and provides storage, terminaling, trucking, marine, and pipeline transportation services.
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