Credit Suisse Group Lowers NGL Energy Partners (NGL) to Neutral

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NGL Energy Partners (NYSE:NGL) was downgraded by Credit Suisse Group from an “outperform” rating to a “neutral” rating in a report issued on Wednesday, The Fly reports. They presently have a $15.00 price target on the oil and gas company’s stock, up from their previous price target of $14.00. Credit Suisse Group’s target price would indicate a potential upside of 8.23% from the company’s previous close.

Several other analysts have also recently commented on the stock. Guggenheim initiated coverage on shares of NGL Energy Partners in a research note on Sunday, December 9th. They set a “buy” rating and a $16.00 price target on the stock. Bank of America set a $15.00 price objective on shares of NGL Energy Partners and gave the company a “buy” rating in a research note on Wednesday, November 7th. Wells Fargo & Co reaffirmed a “hold” rating on shares of NGL Energy Partners in a research note on Wednesday, February 13th. Zacks Investment Research raised shares of NGL Energy Partners from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 15th. Finally, ValuEngine raised shares of NGL Energy Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, February 13th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $14.14.

NGL opened at $13.86 on Wednesday. NGL Energy Partners has a one year low of $8.71 and a one year high of $14.15. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 0.89. The company has a market cap of $1.69 billion, a PE ratio of -20.38 and a beta of 1.26.

NGL Energy Partners (NYSE:NGL) last released its quarterly earnings results on Monday, February 11th. The oil and gas company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.49. NGL Energy Partners had a net margin of 1.51% and a return on equity of 1.21%. The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.11 billion. As a group, equities analysts anticipate that NGL Energy Partners will post -0.81 EPS for the current fiscal year.

In other NGL Energy Partners news, CEO H Michael Krimbill acquired 30,000 shares of NGL Energy Partners stock in a transaction on Tuesday, November 27th. The shares were purchased at an average cost of $9.59 per share, with a total value of $287,700.00. Following the completion of the purchase, the chief executive officer now owns 1,131,417 shares in the company, valued at $10,850,289.03. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

A number of hedge funds have recently made changes to their positions in NGL. Capital Investment Advisory Services LLC acquired a new stake in NGL Energy Partners in the fourth quarter worth $35,000. Oppenheimer Asset Management Inc. acquired a new stake in NGL Energy Partners in the fourth quarter worth $78,000. Advisor Group Inc. raised its holdings in NGL Energy Partners by 77.8% in the fourth quarter. Advisor Group Inc. now owns 10,833 shares of the oil and gas company’s stock worth $104,000 after purchasing an additional 4,739 shares during the period. Venturi Wealth Management LLC acquired a new stake in NGL Energy Partners in the fourth quarter worth $109,000. Finally, Requisite Energy Fund I LP acquired a new stake in NGL Energy Partners in the fourth quarter worth $115,000. 63.43% of the stock is currently owned by hedge funds and other institutional investors.

About NGL Energy Partners

NGL Energy Partners LP, together with its subsidiaries, engages in the crude oil logistics, water solutions, liquids, retail propane, and refined products and renewables businesses. The Crude Oil Logistics segment purchases crude oil from producers and transports it to refineries for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs; and provides storage, terminaling, trucking, marine, and pipeline transportation services.

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Analyst Recommendations for NGL Energy Partners (NYSE:NGL)

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