NGL Energy Partners (NYSE:NGL) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded NGL Energy Partners from “hold” to “buy,” while other analysts have issued mixed ratings; MarketBeat lists the stock’s average rating as “Buy.”
• NGL reported quarterly earnings of $0.48 per share, surpassing the $0.11 consensus estimate, while revenue of $989.99 million also exceeded expectations.
• The stock opened at $16.97, near its 52-week high of $18.80, with institutional investors holding approximately 40.62% of outstanding shares.

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

NGL has been the topic of several other research reports. Weiss Ratings lowered NGL Energy Partners from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 4th. Zacks Research upgraded NGL Energy Partners from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy".

NGL Energy Partners Stock Performance

NYSE NGL opened at $16.97 on Friday. The stock's 50 day moving average price is $15.83 and its two-hundred day moving average price is $14.18. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -5.97 and a beta of 0.63. NGL Energy Partners has a 52 week low of $4.22 and a 52 week high of $18.80.

NGL Energy Partners (NYSE:NGL - Get Free Report) last released its 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. NGL Energy Partners had a negative net margin of 3.76% and a negative return on equity of 39.51%. The business had revenue of $989.99 million during the quarter, compared to the consensus estimate of $346.13 million. On average, equities research analysts forecast that NGL Energy Partners will post 0.82 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NGL. Quartz Partners LLC increased its holdings in shares of NGL Energy Partners by 6.8% during the 1st quarter. Quartz Partners LLC now owns 16,504 shares of the oil and gas company's stock worth $203,000 after acquiring an additional 1,052 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in NGL Energy Partners by 9.4% during the 4th quarter. Wells Fargo & Company MN now owns 34,800 shares of the oil and gas company's stock valued at $348,000 after purchasing an additional 3,000 shares during the last quarter. XTX Topco Ltd boosted its position in NGL Energy Partners by 9.0% during the fourth quarter. XTX Topco Ltd now owns 37,579 shares of the oil and gas company's stock worth $376,000 after purchasing an additional 3,103 shares during the period. Massar Capital Management LP boosted its position in NGL Energy Partners by 23.2% during the second quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company's stock worth $120,000 after purchasing an additional 5,295 shares during the period. Finally, CreativeOne Wealth LLC increased its holdings in shares of NGL Energy Partners by 33.2% in the third quarter. CreativeOne Wealth LLC now owns 23,571 shares of the oil and gas company's stock valued at $141,000 after purchasing an additional 5,871 shares during the last quarter. Institutional investors own 40.62% of the company's stock.

NGL Energy Partners Company Profile

NGL Energy Partners LP is a publicly traded master limited partnership that provides midstream infrastructure and marketing services for the energy industry. The company focuses on the transportation, storage, fractionation and marketing of natural gas liquids (NGLs) and refined petroleum products. Through its integrated operations, NGL Energy Partners serves producers, processors, refiners and industrial customers across key U.S. energy-producing regions.

The partnership's asset base includes pipelines, storage terminals, fractionation plants, and distribution facilities.

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