NGL Energy Partners (NYSE:NGL) Stock Dropped to Hold by Zacks Research

Key Points

• Zacks Research downgraded NGL Energy Partners from “strong buy” to “hold,” while the broader analyst consensus is “reduce,” with ratings split between hold and sell.
• NGL opened at $15.24, with a market capitalization of approximately $1.90 billion and a 12-month trading range of $6.02 to $19.06. Its latest quarterly results beat expectations, reporting $0.48 in EPS versus the $0.11 consensus and nearly $990 million in revenue.
• Insider activity was mixed: the CEO sold 300,000 shares, while a director purchased 300,000 shares. Insiders own 7.3% of the company, and institutional investors and hedge funds own 40.62%.

NGL Energy Partners (NYSE:NGL - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Tuesday, Zacks reports.

Other equities analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of NGL Energy Partners from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Weiss Ratings lowered NGL Energy Partners from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, September 29th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce".

NGL Energy Partners Price Performance

NYSE NGL opened at $15.24 on Tuesday. The stock has a market capitalization of $1.90 billion, a P/E ratio of -5.37 and a beta of 0.84. The firm's 50-day moving average is $16.82 and its two-hundred day moving average is $15.80. NGL Energy Partners has a 12 month low of $6.02 and a 12 month high of $19.06.

NGL Energy Partners (NYSE:NGL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.37. The business had revenue of $989.99 million during the quarter, compared to analysts' expectations of $346.13 million. NGL Energy Partners had a negative net margin of 3.76% and a negative return on equity of 39.51%. As a group, analysts anticipate that NGL Energy Partners will post 1.38 EPS for the current year.

Insiders Place Their Bets

In other news, CEO H. Krimbill sold 300,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were 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 of the company's stock, valued at approximately $57,436,455. This represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John T. Raymond acquired 300,000 shares of the stock in a transaction dated Tuesday, August 25th. The stock was acquired at an average cost of $16.98 per share, with a total value of $5,094,000.00. Following the purchase, the director owned 376,626 shares of the company's stock, valued at approximately $6,395,109.48. This trade represents a 391.51% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 339,923 shares of company stock worth $5,750,003 over the last three months. Company insiders own 7.30% of the company's stock.

Institutional Investors Weigh In On NGL Energy Partners

A number of hedge funds have recently added to or reduced their stakes in NGL. Corient Private Wealth LP acquired a new position in shares of NGL Energy Partners in the second quarter worth $159,000. Quartz Partners LLC raised its stake in shares of NGL Energy Partners by 6.8% in the first quarter. Quartz Partners LLC now owns 16,504 shares of the oil and gas company's stock valued at $203,000 after acquiring an additional 1,052 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of NGL Energy Partners in the first quarter valued at $228,000. Fort Washington Investment Advisors Inc. OH purchased a new position in NGL Energy Partners in the first quarter valued at $385,000. Finally, Segall Bryant & Hamill LLC purchased a new position in NGL Energy Partners in the first quarter valued at $397,000. 40.62% of the stock is currently owned by institutional investors and hedge funds.

About NGL Energy Partners

NGL Energy Partners LP is a publicly traded master limited partnership that provides midstream energy services in the United States. The company's operations support producers, refiners, marketers and other participants in the energy industry through the transportation, handling, storage and disposal of crude oil, produced water and other energy-related liquids.

NGL's Water Solutions business gathers, transports, treats, recycles and disposes of produced water generated during oil and natural gas production.

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