NGL Energy Partners (NYSE:NGL) Rating Lowered to "Hold" at Wall Street Zen

NGL Energy Partners (NYSE:NGL - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

NGL has been the subject of several other reports. Weiss Ratings downgraded NGL Energy Partners from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, October 30th. Zacks Research cut NGL Energy Partners from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 6th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce".

NGL Energy Partners Stock Down 2.9%

NGL opened at $15.17 on Friday. The stock has a market cap of $1.89 billion, a P/E ratio of -4.50 and a beta of 0.89. NGL Energy Partners has a 12 month low of $8.62 and a 12 month high of $19.06. The company has a fifty day simple moving average of $15.88 and a 200 day simple moving average of $15.04.

NGL Energy Partners (NYSE:NGL - Get Free Report) last posted its earnings results on Thursday, November 5th. The oil and gas company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.73). NGL Energy Partners had a negative return on equity of 35.53% and a negative net margin of 5.37%. The business had revenue of $986.55 million for the quarter, compared to the consensus estimate of $869.29 million. On average, equities research analysts expect that NGL Energy Partners will post 1.38 earnings per share for the current fiscal year.

Insider Transactions at NGL Energy Partners

In related news, Director John T. Raymond acquired 300,000 shares of the company's stock in a transaction that occurred on Tuesday, August 25th. The shares were acquired at an average cost of $16.98 per share, for a total transaction of $5,094,000.00. Following the completion of the acquisition, the director directly owned 376,626 shares in the company, valued at approximately $6,395,109.48. The trade was a 391.51% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO H. Krimbill sold 300,000 shares of the firm's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $17.00, for a total transaction of $5,100,000.00. Following the sale, the chief executive officer owned 3,378,615 shares in the company, valued at approximately $57,436,455. The trade was a 8.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders purchased 339,923 shares of company stock valued at $5,750,003 over the last quarter. Corporate insiders own 7.30% of the company's stock.

Institutional Trading of NGL Energy Partners

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tidal Investments LLC raised its holdings in NGL Energy Partners by 4.9% during the second quarter. Tidal Investments LLC now owns 94,443 shares of the oil and gas company's stock worth $1,504,000 after acquiring an additional 4,440 shares in the last quarter. Corient Private Wealth LP acquired a new position in NGL Energy Partners during the second quarter valued at approximately $159,000. Carter Financial Group INC. boosted its position in NGL Energy Partners by 3.1% during the second quarter. Carter Financial Group INC. now owns 66,889 shares of the oil and gas company's stock valued at $1,066,000 after purchasing an additional 2,000 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in NGL Energy Partners during the first quarter valued at approximately $397,000. Finally, Arkadios Wealth Advisors bought a new position in NGL Energy Partners in the first quarter valued at approximately $228,000. Institutional investors and hedge funds own 40.62% of the company's stock.

About NGL Energy Partners

NGL Energy Partners LP is a U.S. midstream energy company that provides transportation, storage, processing and marketing services for crude oil, water and natural gas liquids. Its operations support energy producers and customers across the energy supply chain. The partnership's activities include gathering and transporting crude oil, as well as managing produced and flowback water through transportation, treatment, recycling and disposal services. It also markets and handles products such as propane, butane and refined fuels, using related storage and logistics infrastructure.

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