NGL Energy Partners (NYSE:NGL) Cut to Hold at Zacks Research

NGL Energy Partners (NYSE:NGL) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of NGL Energy Partners in a research note on Wednesday, January 28th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

NGL Energy Partners Trading Up 4.7%

NYSE NGL opened at $12.00 on Wednesday. The stock has a market cap of $1.49 billion, a P/E ratio of 300.08 and a beta of 0.31. The company’s fifty day simple moving average is $10.35 and its 200-day simple moving average is $7.90. NGL Energy Partners has a 52 week low of $2.64 and a 52 week high of $13.00.

NGL Energy Partners (NYSE:NGL) last released its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.06). NGL Energy Partners had a negative return on equity of 66.52% and a net margin of 5.01%.The firm had revenue of $909.82 million for the quarter, compared to analysts’ expectations of $700.76 million. On average, research analysts expect that NGL Energy Partners will post -0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On NGL Energy Partners

Institutional investors have recently modified their holdings of the stock. CIBC Bancorp USA Inc. bought a new position in shares of NGL Energy Partners during the third quarter worth about $70,000. CIBC Private Wealth Group LLC acquired a new stake in NGL Energy Partners during the third quarter valued at approximately $70,000. LPL Financial LLC acquired a new stake in NGL Energy Partners during the fourth quarter valued at approximately $120,000. State of Wyoming bought a new position in NGL Energy Partners during the 4th quarter worth approximately $172,000. Finally, CreativeOne Wealth LLC grew its position in shares of NGL Energy Partners by 15.7% in the 2nd quarter. CreativeOne Wealth LLC now owns 17,700 shares of the oil and gas company’s stock worth $76,000 after acquiring an additional 2,400 shares in the last quarter. Institutional investors and hedge funds own 40.62% of the company’s stock.

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.