ValuEngine Upgrades NGL Energy Partners (NGL) to “Hold”
NGL Energy Partners (NYSE:NGL) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
A number of other brokerages have also recently weighed in on NGL. Royal Bank of Canada restated an “outperform” rating and set a $16.00 price objective (up from $14.00) on shares of NGL Energy Partners in a research note on Tuesday, November 7th. Zacks Investment Research cut NGL Energy Partners from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $10.00 price target on shares of NGL Energy Partners in a research note on Sunday, October 29th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. NGL Energy Partners currently has an average rating of “Hold” and a consensus target price of $16.83.
Shares of NGL Energy Partners (NGL) traded up $0.25 during midday trading on Wednesday, hitting $15.15. The company had a trading volume of 853,000 shares, compared to its average volume of 724,467. The company has a quick ratio of 0.99, a current ratio of 1.56 and a debt-to-equity ratio of 1.69. The stock has a market cap of $1,860.00, a PE ratio of -7.21 and a beta of 0.69. NGL Energy Partners has a 1 year low of $8.57 and a 1 year high of $25.80.
Several large investors have recently made changes to their positions in the company. Oppenheimer & Co. Inc. grew its holdings in NGL Energy Partners by 32.0% during the second quarter. Oppenheimer & Co. Inc. now owns 14,450 shares of the oil and gas company’s stock worth $202,000 after acquiring an additional 3,500 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in NGL Energy Partners by 44.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 19,950 shares of the oil and gas company’s stock worth $279,000 after acquiring an additional 6,131 shares during the period. Wells Fargo & Company MN grew its holdings in NGL Energy Partners by 2.4% during the second quarter. Wells Fargo & Company MN now owns 239,687 shares of the oil and gas company’s stock worth $3,355,000 after acquiring an additional 5,538 shares during the period. Alliancebernstein L.P. grew its holdings in NGL Energy Partners by 5.9% during the second quarter. Alliancebernstein L.P. now owns 22,077 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 1,236 shares during the period. Finally, HAP Trading LLC acquired a new stake in NGL Energy Partners during the second quarter worth about $221,000. Hedge funds and other institutional investors own 63.82% of the company’s stock.
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NGL Energy Partners Company Profile
NGL Energy Partners LP owns and operates a vertically integrated energy business. The Company’s segments are crude oil logistics, water solutions, liquids, retail propane, refined products and renewables, and corporate and other. Its crude oil logistics segment includes owned and leased crude oil storage terminals, and owned and leased pipeline injection stations.
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