NGL Energy Partners (NYSE:NGL) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of NGL Energy Partners (NYSE:NGL) from a hold rating to a buy rating in a research report sent to investors on Saturday.

NGL has been the topic of several other research reports. Zacks Research raised NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Weiss Ratings cut shares of NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

NGL Energy Partners Stock Performance

NGL stock opened at $16.97 on Friday. The company has a market cap of $2.12 billion, a price-to-earnings ratio of -5.97 and a beta of 0.63. The business’s 50-day moving average is $15.83 and its two-hundred day moving average is $14.18. NGL Energy Partners has a fifty-two week low of $4.22 and a fifty-two week high of $18.80.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.11 by $0.37. NGL Energy Partners had a negative return on equity of 39.51% and a negative net margin of 3.76%.The firm had revenue of $989.99 million during the quarter, compared to analyst estimates of $346.13 million. Equities analysts predict that NGL Energy Partners will post 0.82 earnings per share for the current year.

Institutional Trading of NGL Energy Partners

A number of large investors have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC purchased a new stake in shares of NGL Energy Partners in the third quarter valued at approximately $70,000. CIBC Bancorp USA Inc. bought a new stake in NGL Energy Partners during the 3rd quarter valued at $70,000. Massar Capital Management LP raised its position in NGL Energy Partners by 23.2% during the 2nd quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company’s stock valued at $120,000 after purchasing an additional 5,295 shares in the last quarter. LPL Financial LLC purchased a new stake in shares of NGL Energy Partners in the 4th quarter worth $120,000. Finally, State of Wyoming grew its position in shares of NGL Energy Partners by 184.0% during the 2nd quarter. State of Wyoming now owns 32,202 shares of the oil and gas company’s stock worth $138,000 after buying an additional 20,864 shares in the last quarter. 40.62% of the stock is owned by hedge funds and other institutional investors.

About NGL Energy Partners

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.