BidaskClub upgraded shares of NGL Energy Partners (NYSE:NGL) from a sell rating to a hold rating in a research note issued to investors on Thursday, BidAskClub reports.
Other equities research analysts have also recently issued research reports about the company. ValuEngine raised NGL Energy Partners from a hold rating to a buy rating in a report on Monday, November 2nd. UBS Group cut NGL Energy Partners from a neutral rating to a sell rating in a report on Friday, October 16th. Finally, Piper Sandler dropped their target price on NGL Energy Partners from $6.00 to $4.00 and set a neutral rating on the stock in a report on Wednesday, September 23rd. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. NGL Energy Partners has an average rating of Hold and an average price target of $4.39.
NGL opened at $2.79 on Thursday. The business’s 50 day moving average is $2.60 and its 200-day moving average is $3.54. The stock has a market cap of $359.27 million, a PE ratio of -1.12 and a beta of 2.89. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 2.60. NGL Energy Partners has a twelve month low of $1.15 and a twelve month high of $12.08.
NGL Energy Partners (NYSE:NGL) last released its quarterly earnings results on Monday, November 9th. The oil and gas company reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.07). The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.23 billion. NGL Energy Partners had a negative net margin of 5.06% and a negative return on equity of 3.51%. The business’s quarterly revenue was down 35.3% on a year-over-year basis. During the same period last year, the firm posted ($0.26) EPS. As a group, analysts forecast that NGL Energy Partners will post -0.7 EPS for the current year.
A number of large investors have recently made changes to their positions in NGL. Goldman Sachs Group Inc. raised its holdings in NGL Energy Partners by 245.0% during the second quarter. Goldman Sachs Group Inc. now owns 71,348 shares of the oil and gas company’s stock worth $278,000 after purchasing an additional 50,667 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of NGL Energy Partners by 9.8% in the second quarter. Bank of Montreal Can now owns 458,989 shares of the oil and gas company’s stock valued at $1,652,000 after buying an additional 40,789 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings in shares of NGL Energy Partners by 167.1% in the second quarter. Advisor Group Holdings Inc. now owns 295,547 shares of the oil and gas company’s stock valued at $1,153,000 after buying an additional 184,877 shares in the last quarter. Penbrook Management LLC bought a new position in shares of NGL Energy Partners in the third quarter valued at $51,000. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of NGL Energy Partners by 45.6% in the third quarter. BNP Paribas Arbitrage SA now owns 20,921 shares of the oil and gas company’s stock valued at $83,000 after buying an additional 6,557 shares in the last quarter. 46.26% of the stock is currently owned by hedge funds and other institutional investors.
About NGL Energy Partners
NGL Energy Partners LP engages in the crude oil logistics, water solutions, and liquids and refined products 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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