StockNews.com Upgrades NGL Energy Partners (NYSE:NGL) to Buy

NGL Energy Partners (NYSE:NGL) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

NGL Energy Partners Stock Performance

NYSE NGL opened at $4.66 on Wednesday. NGL Energy Partners has a twelve month low of $3.84 and a twelve month high of $6.20. The stock has a market cap of $614.52 million, a price-to-earnings ratio of -1.85 and a beta of 1.73. The firm’s 50 day moving average price is $5.08 and its two-hundred day moving average price is $4.67.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings data on Monday, February 10th. The oil and gas company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.25). NGL Energy Partners had a negative return on equity of 29.77% and a negative net margin of 3.57%. On average, research analysts forecast that NGL Energy Partners will post -0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO H Michael Krimbill bought 15,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was bought at an average price of $4.49 per share, with a total value of $67,350.00. Following the purchase, the chief executive officer now directly owns 603,000 shares of the company’s stock, valued at approximately $2,707,470. This represents a 2.55 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Institutional Investors Weigh In On NGL Energy Partners

Institutional investors have recently modified their holdings of the stock. XTX Topco Ltd acquired a new stake in shares of NGL Energy Partners during the 3rd quarter valued at $46,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of NGL Energy Partners during the 3rd quarter valued at $46,000. Raymond James Financial Inc. acquired a new stake in shares of NGL Energy Partners during the 4th quarter valued at $55,000. one8zero8 LLC acquired a new stake in shares of NGL Energy Partners during the 4th quarter valued at $58,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of NGL Energy Partners during the 4th quarter valued at $59,000. Institutional investors and hedge funds own 40.62% of the company’s stock.

About NGL Energy Partners

NGL Energy Partners LP engages in the transportation, storage, blending, and marketing of crude oil, natural gas liquids, refined products / renewables, and water solutions. The company operates in three segments: Water Solutions, Crude Oil Logistics, and Liquids Logistics. The Water Solutions segment transports, treats, recycles, and disposes produced and flowback water generated from oil and natural gas production; aggregates and sells recovered crude oil; disposes solids, such as tank bottoms, and drilling fluid and muds, as well as performs truck and frac tank washouts; and sells produced water for reuse and recycle, and brackish non-potable water.