Zacks Investment Research lowered shares of NGL Energy Partners (NYSE:NGL) from a hold rating to a sell rating in a report published on Friday morning.
According to Zacks, “NGL Energy Partners LP is a limited partnership operating a vertically-integrated propane business with three operating segments: retail propane; wholesale supply and marketing; and midstream. The Retail Propane segment engages in retail marketing, sale, and distribution of propane, including the sale and lease of propane tanks, equipment, and supplies to residential, agricultural, commercial, and industrial customers through customer service locations. The Wholesale Supply and Marketing segment supplies propane and other natural gas liquids, as well as provides related storage to retailers, wholesalers, and refiners. The Midstream segment involves in the delivery of propane from pipelines or trucks to propane terminals and transfers the propane to third-party transport trucks for delivery to retailers, wholesalers, or other consumers. NGL Energy Partners LP is headquartered in Tulsa, Oklahoma. “
A number of other equities analysts have also commented on NGL. Stifel Nicolaus restated a hold rating and issued a $10.00 price target on shares of NGL Energy Partners in a research report on Sunday, October 29th. Royal Bank of Canada reaffirmed an outperform rating and issued a $16.00 target price (up from $14.00) on shares of NGL Energy Partners in a research note on Tuesday, November 7th. ValuEngine raised shares of NGL Energy Partners from a sell rating to a hold rating in a research note on Wednesday, January 3rd. Finally, Credit Suisse Group initiated coverage on shares of NGL Energy Partners in a research note on Thursday, January 4th. They issued an outperform rating and a $16.00 target price for the company. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. NGL Energy Partners currently has a consensus rating of Hold and a consensus target price of $15.40.
NGL Energy Partners (NYSE:NGL) opened at $12.80 on Friday. The company has a market cap of $1,550.00, a PE ratio of -7.49 and a beta of 0.79. NGL Energy Partners has a 12-month low of $8.57 and a 12-month high of $23.85. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.69 and a quick ratio of 1.14.
NGL Energy Partners (NYSE:NGL) last released its quarterly earnings results on Friday, February 9th. The oil and gas company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.13. The firm had revenue of $4.46 billion for the quarter, compared to analyst estimates of $3.96 billion. NGL Energy Partners had a negative net margin of 0.97% and a negative return on equity of 1.85%. equities research analysts predict that NGL Energy Partners will post -1.19 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, February 6th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 12.19%. The ex-dividend date was Monday, February 5th. NGL Energy Partners’s dividend payout ratio is presently -91.23%.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. raised its stake in shares of NGL Energy Partners by 1.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 122,535 shares of the oil and gas company’s stock worth $1,715,000 after acquiring an additional 1,231 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of NGL Energy Partners by 5.9% in the second quarter. Alliancebernstein L.P. now owns 22,077 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 1,236 shares during the last quarter. Northern Trust Corp raised its stake in shares of NGL Energy Partners by 3.6% in the second quarter. Northern Trust Corp now owns 43,224 shares of the oil and gas company’s stock worth $605,000 after acquiring an additional 1,515 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of NGL Energy Partners by 1.9% during the fourth quarter. California Public Employees Retirement System now owns 248,400 shares of the oil and gas company’s stock worth $3,490,000 after buying an additional 4,600 shares during the last quarter. Finally, Cetera Advisor Networks LLC raised its stake in shares of NGL Energy Partners by 29.2% during the fourth quarter. Cetera Advisor Networks LLC now owns 27,121 shares of the oil and gas company’s stock worth $384,000 after buying an additional 6,122 shares during the last quarter. 66.82% of the stock is owned by institutional investors.
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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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