Zacks Investment Research Downgrades NGL Energy Partners (NYSE:NGL) to Hold

Zacks Investment Research cut shares of NGL Energy Partners (NYSE:NGLGet Rating) from a buy rating to a hold rating in a report published on Tuesday morning, Zacks.com reports.

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 began coverage on shares of NGL Energy Partners in a research report on Thursday, March 31st. They issued a hold rating for the company.

Shares of NYSE:NGL opened at $1.95 on Tuesday. NGL Energy Partners has a 12-month low of $1.38 and a 12-month high of $3.21. The business has a 50 day moving average of $2.19 and a 200-day moving average of $2.17. The company has a quick ratio of 0.99, a current ratio of 1.27 and a debt-to-equity ratio of 8.63. The stock has a market cap of $253.47 million, a PE ratio of -0.52 and a beta of 2.22.

NGL Energy Partners (NYSE:NGLGet Rating) last released its quarterly earnings results on Wednesday, February 9th. The oil and gas company reported ($0.26) earnings per share (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 firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the firm earned ($0.32) earnings per share. Equities research analysts expect that NGL Energy Partners will post -0.54 earnings per share for the current year.

In other NGL Energy Partners news, CEO H Michael Krimbill purchased 100,000 shares of the company’s stock in a transaction dated Tuesday, March 15th. The stock was bought at an average cost of $2.12 per share, for a total transaction of $212,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Hedge funds have recently bought and sold shares of the stock. HighTower Advisors LLC boosted its holdings in shares of NGL Energy Partners by 36.0% in the 1st quarter. HighTower Advisors LLC now owns 90,801 shares of the oil and gas company’s stock valued at $201,000 after purchasing an additional 24,051 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its stake in shares of 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 valued at $140,000 after purchasing an additional 31,600 shares in the last quarter. GSA Capital Partners LLP grew its stake in shares of NGL Energy Partners by 348.1% during the first quarter. GSA Capital Partners LLP now owns 350,607 shares of the oil and gas company’s stock worth $778,000 after buying an additional 272,370 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC acquired a new position in shares of NGL Energy Partners during the first quarter worth $35,000. Finally, Carter Financial Group INC. bought a new position in shares of NGL Energy Partners in the 1st quarter valued at $103,000. 30.23% of the stock is owned by institutional investors and hedge funds.

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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