NGL Energy Partners (NYSE:NGL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The firm currently has a $12.00 price target on the oil and gas company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 18.69% from the stock’s previous close.
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. “
Other research analysts have also issued research reports about the company. UBS Group lowered NGL Energy Partners from a “buy” rating to a “neutral” rating and cut their price target for the stock from $17.00 to $13.50 in a report on Tuesday, October 8th. Raymond James reiterated an “outperform” rating and issued a $15.00 price target (down previously from $17.00) on shares of NGL Energy Partners in a report on Monday, November 11th. ValuEngine lowered NGL Energy Partners from a “sell” rating to a “strong sell” rating in a report on Tuesday. Finally, Piper Jaffray Companies began coverage on NGL Energy Partners in a report on Wednesday, July 17th. They issued a “neutral” rating and a $17.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $14.79.
NYSE:NGL traded up $0.27 on Tuesday, hitting $10.11. The stock had a trading volume of 1,226,663 shares, compared to its average volume of 1,116,087. The business’s fifty day moving average is $11.88 and its 200 day moving average is $13.66. The company has a market cap of $1.30 billion, a PE ratio of -8.02, a P/E/G ratio of 4.94 and a beta of 1.08. The company has a quick ratio of 0.98, a current ratio of 1.18 and a debt-to-equity ratio of 1.71. NGL Energy Partners has a 52 week low of $8.71 and a 52 week high of $15.71.
In related news, Director James M. Collingsworth bought 6,250 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were bought at an average price of $13.25 per share, for a total transaction of $82,812.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several hedge funds have recently bought and sold shares of the company. Invesco Ltd. increased its position in shares of NGL Energy Partners by 11,053.5% during the second quarter. Invesco Ltd. now owns 21,007,430 shares of the oil and gas company’s stock valued at $310,279,000 after acquiring an additional 20,819,081 shares during the last quarter. Alps Advisors Inc. increased its position in shares of NGL Energy Partners by 38.4% during the third quarter. Alps Advisors Inc. now owns 14,063,184 shares of the oil and gas company’s stock valued at $195,619,000 after acquiring an additional 3,900,561 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of NGL Energy Partners by 5.5% during the second quarter. JPMorgan Chase & Co. now owns 3,278,498 shares of the oil and gas company’s stock valued at $47,768,000 after acquiring an additional 170,262 shares during the last quarter. Bank of Montreal Can increased its position in shares of NGL Energy Partners by 0.8% during the second quarter. Bank of Montreal Can now owns 2,046,259 shares of the oil and gas company’s stock valued at $30,223,000 after acquiring an additional 15,659 shares during the last quarter. Finally, Infrastructure Capital Advisors LLC increased its position in shares of NGL Energy Partners by 2.0% during the second quarter. Infrastructure Capital Advisors LLC now owns 936,531 shares of the oil and gas company’s stock valued at $13,898,000 after acquiring an additional 17,936 shares during the last quarter. Institutional investors own 63.92% of the company’s stock.
NGL Energy Partners Company Profile
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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