Zacks Research Upgrades NGL Energy Partners (NYSE:NGL) to “Strong-Buy”

NGL Energy Partners (NYSE:NGL) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of NGL Energy Partners in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, NGL Energy Partners has an average rating of “Buy”.

NGL Energy Partners Trading Up 0.5%

Shares of NGL traded up $0.05 during mid-day trading on Tuesday, reaching $9.78. The company’s stock had a trading volume of 16,507 shares, compared to its average volume of 210,145. NGL Energy Partners has a 52 week low of $2.64 and a 52 week high of $10.29. The stock has a market cap of $1.23 billion, a PE ratio of -54.28 and a beta of 0.29. The company’s fifty day moving average price is $9.76 and its two-hundred day moving average price is $6.92.

NGL Energy Partners (NYSE:NGL) last issued its earnings results on Tuesday, November 4th. The oil and gas company reported $0.02 earnings per share for the quarter. NGL Energy Partners had a negative return on equity of 53.56% and a net margin of 3.29%.The company had revenue of $674.68 million during the quarter, compared to analysts’ expectations of $508.49 million. Research analysts anticipate that NGL Energy Partners will post -0.22 EPS for the current year.

Institutional Trading of NGL Energy Partners

Several large investors have recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. purchased a new position in shares of NGL Energy Partners during the 3rd quarter worth $70,000. CIBC Private Wealth Group LLC purchased a new position in NGL Energy Partners during the third quarter valued at $70,000. CreativeOne Wealth LLC grew its holdings in NGL Energy Partners by 15.7% during the second quarter. CreativeOne Wealth LLC now owns 17,700 shares of the oil and gas company’s stock valued at $76,000 after purchasing an additional 2,400 shares during the period. Simon Quick Advisors LLC purchased a new stake in NGL Energy Partners in the third quarter worth about $129,000. Finally, Everpar Advisors LLC raised its stake in shares of NGL Energy Partners by 6.5% in the fourth quarter. Everpar Advisors LLC now owns 24,500 shares of the oil and gas company’s stock worth $245,000 after buying an additional 1,500 shares during the period. 40.62% of the stock is currently owned by institutional investors.

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.