Zacks Investment Research Upgrades NGL Energy Partners (NGL) to “Hold”

Zacks Investment Research upgraded shares of NGL Energy Partners (NYSE:NGL) from a sell rating to a hold rating in a research note released on Tuesday morning.

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. “

Other equities research analysts have also issued research reports about the company. ValuEngine raised NGL Energy Partners from a sell rating to a hold rating in a research note on Wednesday, January 3rd. Stifel Nicolaus boosted their price target on NGL Energy Partners from $10.00 to $12.00 and gave the stock a hold rating in a research note on Tuesday, November 21st. Credit Suisse Group initiated coverage on NGL Energy Partners in a research note on Thursday, January 4th. They set an outperform rating and a $16.00 price target on the stock. Finally, Royal Bank of Canada reissued an outperform rating and set a $16.00 price target (up previously from $14.00) on shares of NGL Energy Partners in a research note on Tuesday, November 7th. One 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. NGL Energy Partners presently has a consensus rating of Hold and an average target price of $15.40.

Shares of NGL Energy Partners (NYSE:NGL) traded up $0.15 during trading hours on Tuesday, hitting $16.60. The stock had a trading volume of 940,569 shares, compared to its average volume of 1,550,000. The stock has a market cap of $2,020.00, a price-to-earnings ratio of -7.90 and a beta of 0.69. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.56 and a quick ratio of 0.99. NGL Energy Partners has a fifty-two week low of $8.57 and a fifty-two week high of $25.80.

In other news, CFO Robert W. Karlovich III purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were acquired at an average price of $11.66 per share, with a total value of $116,600.00. Following the purchase, the chief financial officer now directly owns 99,320 shares of the company’s stock, valued at $1,158,071.20. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Several institutional investors have recently modified their holdings of NGL. HITE Hedge Asset Management LLC raised its position in shares of 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 worth $32,549,000 after purchasing an additional 2,270,714 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of NGL Energy Partners by 34.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,352,179 shares of the oil and gas company’s stock worth $25,874,000 after purchasing an additional 599,612 shares during the last quarter. ING Groep NV acquired a new position in shares of NGL Energy Partners during the 3rd quarter worth approximately $6,272,000. Goldman Sachs Group Inc. raised its position in shares of NGL Energy Partners by 20.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,073,412 shares of the oil and gas company’s stock worth $43,028,000 after purchasing an additional 515,730 shares during the last quarter. Finally, Harvest Fund Advisors LLC raised its position in shares of NGL Energy Partners by 6.8% during the 3rd quarter. Harvest Fund Advisors LLC now owns 7,090,961 shares of the oil and gas company’s stock worth $81,901,000 after purchasing an additional 449,855 shares during the last quarter. Hedge funds and other institutional investors own 63.82% of the company’s stock.

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About NGL Energy Partners

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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