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

Wall Street Zen upgraded shares of NGL Energy Partners (NYSE:NGL) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Several other research firms also recently weighed in on NGL. Zacks Research raised NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Weiss Ratings downgraded NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

NGL Energy Partners Trading Up 1.8%

Shares of NYSE:NGL opened at $17.19 on Friday. The company has a market cap of $2.15 billion, a price-to-earnings ratio of -6.05 and a beta of 0.63. NGL Energy Partners has a 12 month low of $4.43 and a 12 month high of $18.80. The company has a 50-day moving average price of $15.83 and a 200 day moving average price of $14.26.

NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.37. NGL Energy Partners had a negative return on equity of 39.51% and a negative net margin of 3.76%.The company had revenue of $989.99 million for the quarter, compared to analysts’ expectations of $346.13 million. As a group, equities analysts forecast that NGL Energy Partners will post 0.82 EPS for the current year.

Hedge Funds Weigh In On NGL Energy Partners

Hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its position in shares of NGL Energy Partners by 3.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,248,614 shares of the oil and gas company’s stock worth $23,829,000 after purchasing an additional 165,249 shares during the last quarter. Jump Financial LLC grew its holdings in shares of NGL Energy Partners by 223.4% in the second quarter. Jump Financial LLC now owns 224,779 shares of the oil and gas company’s stock worth $960,000 after purchasing an additional 155,279 shares during the last quarter. Angelo Gordon & CO. L.P. purchased a new position in NGL Energy Partners in the 2nd quarter worth about $2,730,000. Bank of America Corp DE increased its stake in NGL Energy Partners by 8.8% in the 2nd quarter. Bank of America Corp DE now owns 9,885,023 shares of the oil and gas company’s stock worth $42,209,000 after buying an additional 797,895 shares during the period. Finally, Massar Capital Management LP lifted its holdings in NGL Energy Partners by 23.2% during the 2nd quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company’s stock valued at $120,000 after buying an additional 5,295 shares in the last quarter. Institutional investors own 40.62% of the company’s stock.

About NGL Energy Partners

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.