Zacks Investment Research upgraded shares of NGL Energy Partners (NYSE:NGL – Get Rating) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Zacks.com reports. The brokerage currently has $2.25 price target on the oil and gas company’s stock.
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. “
Separately, StockNews.com started coverage on shares of NGL Energy Partners in a report on Thursday, March 31st. They set a hold rating for the company.
NGL Energy Partners (NYSE:NGL – Get Rating) last released its quarterly earnings data on Wednesday, February 9th. The oil and gas company reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.22 by ($0.48). NGL Energy Partners had a negative net margin of 6.04% and a negative return on equity of 28.00%. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the company earned ($0.32) EPS. As a group, equities research analysts anticipate that NGL Energy Partners will post -0.54 EPS for the current fiscal year.
In other NGL Energy Partners news, CEO H Michael Krimbill bought 100,000 shares of the firm’s stock in a transaction dated Tuesday, March 15th. The shares were purchased at an average cost of $2.12 per share, for a total transaction of $212,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC raised its position in shares of NGL Energy Partners by 36.0% during the 1st quarter. HighTower Advisors LLC now owns 90,801 shares of the oil and gas company’s stock valued at $201,000 after buying an additional 24,051 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its position in NGL Energy Partners by 100.6% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 63,000 shares of the oil and gas company’s stock worth $140,000 after purchasing an additional 31,600 shares during the period. GSA Capital Partners LLP raised its position in NGL Energy Partners by 348.1% in the 1st quarter. GSA Capital Partners LLP now owns 350,607 shares of the oil and gas company’s stock worth $778,000 after purchasing an additional 272,370 shares during the period. Wilbanks Smith & Thomas Asset Management LLC purchased a new stake in NGL Energy Partners in the 1st quarter worth about $35,000. Finally, Carter Financial Group INC. purchased a new stake in NGL Energy Partners in the 1st quarter worth about $103,000. Hedge funds and other institutional investors own 30.23% of the company’s stock.
NGL Energy Partners Company Profile (Get Rating)
NGL Energy Partners LP engages in the crude oil and liquids logistics, and water solution businesses. The company's Crude Oil Logistics segment purchases crude oil from producers and marketers, 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, and pipeline transportation services.
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