Credit Suisse Group assumed coverage on shares of NGL Energy Partners (NYSE:NGL) in a research note issued to investors on Thursday morning. The firm issued an outperform rating and a $16.00 target price on the oil and gas company’s stock.
A number of other research firms have also recently commented on NGL. Royal Bank of Canada reaffirmed an outperform rating and issued a $16.00 price target (up previously from $14.00) on shares of NGL Energy Partners in a report on Tuesday, November 7th. Zacks Investment Research cut shares of NGL Energy Partners from a hold rating to a sell rating in a report on Friday, November 10th. ValuEngine raised shares of NGL Energy Partners from a sell rating to a hold rating in a report on Wednesday. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $10.00 price target on shares of NGL Energy Partners in a report on Sunday, October 29th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $16.83.
Shares of NGL Energy Partners (NGL) traded up $0.40 during midday trading on Thursday, hitting $15.55. The stock had a trading volume of 778,064 shares, compared to its average volume of 724,467. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.56 and a quick ratio of 0.99. The stock has a market cap of $1,890.00, a P/E ratio of -7.40 and a beta of 0.69. NGL Energy Partners has a 12-month low of $8.57 and a 12-month high of $25.80.
Hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA raised its holdings in NGL Energy Partners by 399.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,983 shares of the oil and gas company’s stock valued at $104,000 after acquiring an additional 7,183 shares during the period. Commonwealth Equity Services Inc bought a new stake in NGL Energy Partners during the 3rd quarter valued at $117,000. Oppenheimer & Co. Inc. raised its holdings in NGL Energy Partners by 32.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,450 shares of the oil and gas company’s stock valued at $202,000 after acquiring an additional 3,500 shares during the period. HAP Trading LLC bought a new stake in NGL Energy Partners during the 2nd quarter valued at $221,000. Finally, Oppenheimer Asset Management Inc. raised its holdings in NGL Energy Partners by 44.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 19,950 shares of the oil and gas company’s stock valued at $279,000 after acquiring an additional 6,131 shares during the period. 63.82% of the stock is currently owned by institutional investors and hedge funds.
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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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