NGL Energy Partners (NYSE:NGL) was downgraded by equities research analysts at ValuEngine from a "sell" rating to a "strong sell" rating in a research note issued to investors on Tuesday, ValuEngine reports.
Several other equities analysts have also issued reports on NGL. Piper Sandler boosted their price target on NGL Energy Partners from $2.00 to $6.00 and gave the company a "neutral" rating in a research note on Thursday, June 4th. Wells Fargo & Co lowered their price target on NGL Energy Partners from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 14th. Stifel Nicolaus lowered their price target on NGL Energy Partners from $8.00 to $4.00 and set a "hold" rating on the stock in a research note on Tuesday, April 21st. Credit Suisse Group restated a "sell" rating and set a $2.00 price target on shares of NGL Energy Partners in a research note on Tuesday, June 2nd. Finally, Zacks Investment Research upgraded NGL Energy Partners from a "hold" rating to a "buy" rating and set a $7.25 price target on the stock in a research note on Friday, June 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of "Hold" and a consensus price target of $6.69.
Shares of NYSE NGL traded up $0.06 during trading hours on Tuesday, hitting $3.90. 1,579,082 shares of the company's stock were exchanged, compared to its average volume of 1,993,309. NGL Energy Partners has a 1-year low of $1.15 and a 1-year high of $15.71. The company has a debt-to-equity ratio of 2.35, a current ratio of 0.92 and a quick ratio of 0.83. The stock has a market capitalization of $494.48 million, a price-to-earnings ratio of -0.85 and a beta of 3.01. The company's 50-day moving average price is $5.38 and its 200-day moving average price is $6.99.
NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings data on Monday, June 1st. The oil and gas company reported ($2.09) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($2.20). NGL Energy Partners had a positive return on equity of 3.03% and a negative net margin of 3.80%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period in the prior year, the firm posted $0.20 EPS. NGL Energy Partners's revenue for the quarter was down 20.8% on a year-over-year basis. On average, research analysts expect that NGL Energy Partners will post 0.29 earnings per share for the current year.
In related news, EVP John Ciolek acquired 10,000 shares of the stock in a transaction dated Friday, June 5th. The shares were bought at an average cost of $6.97 per share, for a total transaction of $69,700.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates grew its position in NGL Energy Partners by 11.1% during the 4th quarter. Raymond James & Associates now owns 151,085 shares of the oil and gas company's stock worth $1,713,000 after acquiring an additional 15,146 shares during the last quarter. Invesco Ltd. grew its position in NGL Energy Partners by 1.9% during the 1st quarter. Invesco Ltd. now owns 21,836,688 shares of the oil and gas company's stock worth $56,775,000 after acquiring an additional 398,278 shares during the last quarter. Bank of America Corp DE lifted its holdings in NGL Energy Partners by 7.8% during the 4th quarter. Bank of America Corp DE now owns 1,209,716 shares of the oil and gas company's stock worth $13,719,000 after buying an additional 87,723 shares in the last quarter. Alps Advisors Inc. lifted its holdings in NGL Energy Partners by 7.6% during the 1st quarter. Alps Advisors Inc. now owns 15,279,193 shares of the oil and gas company's stock worth $39,726,000 after buying an additional 1,075,805 shares in the last quarter. Finally, Financial Advocates Investment Management acquired a new position in NGL Energy Partners during the 1st quarter worth $30,000. Institutional investors and hedge funds own 54.01% of the company's stock.
About NGL Energy Partners
NGL Energy Partners LP, together with its subsidiaries, engages in the crude oil logistics, water solutions, liquids, retail propane, and refined products and renewables businesses. The Crude Oil Logistics segment purchases crude oil from producers 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, trucking, marine, and pipeline transportation services.
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