Analysts at Credit Suisse Group started coverage on shares of NGL Energy Partners (NYSE:NGL) in a note issued to investors on Thursday, The Fly reports. The brokerage set an “outperform” rating and a $15.00 price target on the oil and gas company’s stock. Credit Suisse Group’s price target points to a potential upside of 30.66% from the stock’s current price.
Several other analysts have also issued reports on NGL. Wells Fargo & Co cut their price target on NGL Energy Partners from $14.00 to $11.00 and set a “market perform” rating for the company in a report on Monday, September 24th. ValuEngine raised NGL Energy Partners from a “sell” rating to a “hold” rating in a report on Sunday, September 30th. Zacks Investment Research lowered NGL Energy Partners from a “buy” rating to a “hold” rating in a report on Thursday, June 14th. Bank of America began coverage on NGL Energy Partners in a report on Tuesday, July 10th. They set a “buy” rating and a $15.00 price target for the company. Finally, TheStreet raised NGL Energy Partners from a “d+” rating to a “c-” rating in a report on Monday, June 25th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $14.00.
NGL Energy Partners stock opened at $11.48 on Thursday. The firm has a market cap of $1.42 billion, a P/E ratio of -16.88 and a beta of 1.16. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.14 and a quick ratio of 1.59. NGL Energy Partners has a one year low of $10.00 and a one year high of $17.65.
NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings data on Tuesday, August 7th. The oil and gas company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.93). The firm had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $4.53 billion. NGL Energy Partners had a negative net margin of 1.01% and a negative return on equity of 0.54%. As a group, research analysts anticipate that NGL Energy Partners will post -0.44 earnings per share for the current year.
In other NGL Energy Partners news, Director John T. Raymond acquired 50,000 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was purchased at an average price of $11.04 per share, with a total value of $552,000.00. Following the completion of the purchase, the director now directly owns 50,000 shares in the company, valued at approximately $552,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO H Michael Krimbill acquired 20,000 shares of the company’s stock in a transaction dated Friday, August 31st. The stock was acquired at an average cost of $11.65 per share, with a total value of $233,000.00. The disclosure for this purchase can be found here.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NGL. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of NGL Energy Partners in the second quarter worth about $22,363,000. OppenheimerFunds Inc. boosted its stake in shares of NGL Energy Partners by 6.0% in the second quarter. OppenheimerFunds Inc. now owns 17,121,298 shares of the oil and gas company’s stock worth $214,016,000 after acquiring an additional 968,983 shares during the period. Alps Advisors Inc. boosted its stake in shares of NGL Energy Partners by 6.0% in the second quarter. Alps Advisors Inc. now owns 9,312,778 shares of the oil and gas company’s stock worth $116,410,000 after acquiring an additional 528,145 shares during the period. Renaissance Technologies LLC bought a new position in shares of NGL Energy Partners in the second quarter worth about $5,483,000. Finally, GSA Capital Partners LLP bought a new position in shares of NGL Energy Partners in the second quarter worth about $4,247,000. 63.34% of the stock is owned by hedge funds and other institutional investors.
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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