NGL Energy Partners (NYSE:NGL) Downgraded by Zacks Investment Research

NGL Energy Partners (NYSE:NGL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, February 16th.

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. “

A number of other brokerages have also issued reports on NGL. Royal Bank of Canada reissued an “outperform” rating and set a $16.00 price target (up from $14.00) on shares of NGL Energy Partners in a research note on Tuesday, November 7th. ValuEngine lowered NGL Energy Partners from a “hold” rating to a “sell” rating in a research note on Friday, February 9th. Stifel Nicolaus reissued a “hold” rating and set a $10.00 price target on shares of NGL Energy Partners in a research note on Sunday, October 29th. Finally, Credit Suisse Group started coverage on NGL Energy Partners in a research note on Thursday, January 4th. They set an “outperform” rating and a $16.00 price target for the company. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $15.40.

NGL Energy Partners (NYSE NGL) opened at $12.65 on Friday. The company has a market capitalization of $1,580.14, a P/E ratio of -7.40 and a beta of 0.79. The company has a quick ratio of 1.14, a current ratio of 1.69 and a debt-to-equity ratio of 1.64. NGL Energy Partners has a 1-year low of $8.57 and a 1-year high of $23.50.

NGL Energy Partners (NYSE:NGL) last announced its earnings results on Friday, February 9th. The oil and gas company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.13. NGL Energy Partners had a negative return on equity of 1.85% and a negative net margin of 0.97%. The firm had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $3.96 billion. research analysts forecast that NGL Energy Partners will post -1.19 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of NGL. Alps Advisors Inc. purchased a new stake in NGL Energy Partners during the 4th quarter valued at about $130,044,000. HITE Hedge Asset Management LLC grew its stake in NGL Energy Partners by 414.8% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 2,818,082 shares of the oil and gas company’s stock valued at $32,549,000 after purchasing an additional 2,270,714 shares during the last quarter. Advisory Research Inc. lifted its holdings in shares of NGL Energy Partners by 57.7% in the 4th quarter. Advisory Research Inc. now owns 3,611,015 shares of the oil and gas company’s stock valued at $50,735,000 after buying an additional 1,320,600 shares during the period. Cushing Asset Management LP lifted its holdings in shares of NGL Energy Partners by 20.4% in the 4th quarter. Cushing Asset Management LP now owns 6,184,050 shares of the oil and gas company’s stock valued at $86,886,000 after buying an additional 1,047,938 shares during the period. Finally, Brightline Capital Management LLC acquired a new position in shares of NGL Energy Partners in the 4th quarter valued at about $9,133,000. Institutional investors and hedge funds own 66.82% 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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