NGL Energy Partners (NYSE:NGL) Lowered to Strong Sell at ValuEngine

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ValuEngine cut shares of NGL Energy Partners (NYSE:NGL) from a sell rating to a strong sell rating in a research note published on Tuesday morning, ValuEngine reports.

Several other research firms have also recently weighed in on NGL. Stifel Nicolaus cut their price objective on NGL Energy Partners from $8.00 to $4.00 and set a hold rating on the stock in a research report on Tuesday, April 21st. UBS Group cut their price objective on NGL Energy Partners from $3.50 to $2.00 and set a neutral rating on the stock in a research report on Friday, April 3rd. Royal Bank of Canada boosted their price objective on NGL Energy Partners from $5.00 to $7.00 and gave the stock a sector perform rating in a research report on Wednesday, June 3rd. Wells Fargo & Co cut their price objective on NGL Energy Partners from $5.00 to $4.00 and set an equal weight rating on the stock in a research report on Tuesday, April 14th. Finally, Piper Sandler boosted their price objective on NGL Energy Partners from $2.00 to $6.00 and gave the stock a neutral rating in a research report on Thursday, June 4th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $6.69.

NYSE NGL opened at $3.90 on Tuesday. The company has a market cap of $494.48 million, a price-to-earnings ratio of -0.85 and a beta of 3.01. NGL Energy Partners has a 52 week low of $1.15 and a 52 week high of $15.71. The business has a 50 day moving average price of $5.38 and a 200-day moving average price of $6.99. The company has a quick ratio of 0.83, a current ratio of 0.92 and a debt-to-equity ratio of 2.35.

NGL Energy Partners (NYSE:NGL) last announced its quarterly earnings results on Monday, June 1st. The oil and gas company reported ($2.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($2.20). NGL Energy Partners had a positive return on equity of 3.03% and a negative net margin of 3.80%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter last year, the company posted $0.20 EPS. The company’s quarterly revenue was down 20.8% compared to the same quarter last year. On average, equities research analysts anticipate that NGL Energy Partners will post 0.29 earnings per share for the current year.

In other NGL Energy Partners news, EVP John Ciolek bought 10,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were acquired at an average cost of $6.97 per share, for a total transaction of $69,700.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Institutional investors have recently made changes to their positions in the company. Raymond James & Associates increased its position in shares of NGL Energy Partners by 11.1% during the 4th quarter. Raymond James & Associates now owns 151,085 shares of the oil and gas company’s stock valued at $1,713,000 after purchasing an additional 15,146 shares during the last quarter. Invesco Ltd. grew its position in NGL Energy Partners by 1.9% during the 1st quarter. Invesco Ltd. now owns 21,836,688 shares of the oil and gas company’s stock worth $56,775,000 after acquiring an additional 398,278 shares during the last quarter. Bank of America Corp DE grew its position in NGL Energy Partners by 7.8% during the 4th quarter. Bank of America Corp DE now owns 1,209,716 shares of the oil and gas company’s stock worth $13,719,000 after acquiring an additional 87,723 shares during the last quarter. Alps Advisors Inc. grew its position in NGL Energy Partners by 7.6% during the 1st quarter. Alps Advisors Inc. now owns 15,279,193 shares of the oil and gas company’s stock worth $39,726,000 after acquiring an additional 1,075,805 shares during the last quarter. Finally, Financial Advocates Investment Management bought a new position in NGL Energy Partners during the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 54.01% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for NGL Energy Partners (NYSE:NGL)

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