According to Zacks, “NGL Energy Partners LP is a limited partnership operating a vertically-integrated propane business with three operating segments: retail propane; wholesale supply and marketing; and midstream. The Retail Propane segment engages in retail marketing, sale, and distribution of propane, including the sale and lease of propane tanks, equipment, and supplies to residential, agricultural, commercial, and industrial customers through customer service locations. The Wholesale Supply and Marketing segment supplies propane and other natural gas liquids, as well as provides related storage to retailers, wholesalers, and refiners. The Midstream segment involves in the delivery of propane from pipelines or trucks to propane terminals and transfers the propane to third-party transport trucks for delivery to retailers, wholesalers, or other consumers. NGL Energy Partners LP is headquartered in Tulsa, Oklahoma. “
Separately, Wells Fargo & Company lifted their target price on NGL Energy Partners from $2.00 to $2.25 and gave the company an underweight rating in a report on Thursday, May 13th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock has an average rating of Hold and an average price target of $3.20.
NGL Energy Partners (NYSE:NGL) last announced its quarterly earnings data on Wednesday, June 2nd. The oil and gas company reported ($1.96) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($1.92). NGL Energy Partners had a negative return on equity of 20.92% and a negative net margin of 14.01%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the business posted ($1.89) EPS. The company’s revenue was up 4.2% compared to the same quarter last year. Sell-side analysts expect that NGL Energy Partners will post 0.14 earnings per share for the current year.
In related news, EVP John Ciolek bought 30,000 shares of NGL Energy Partners stock in a transaction on Tuesday, June 15th. The stock was acquired at an average price of $2.24 per share, with a total value of $67,200.00. Following the acquisition, the executive vice president now directly owns 242,264 shares of the company’s stock, valued at $542,671.36. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Several hedge funds and other institutional investors have recently modified their holdings of NGL. Walleye Trading LLC purchased a new position in shares of NGL Energy Partners during the fourth quarter worth about $29,000. Ground Swell Capital LLC purchased a new position in shares of NGL Energy Partners during the first quarter worth about $41,000. Mcdonald Partners LLC bought a new stake in NGL Energy Partners in the 1st quarter worth approximately $41,000. Cambridge Investment Research Advisors Inc. bought a new stake in NGL Energy Partners in the 1st quarter worth approximately $46,000. Finally, Walleye Capital LLC bought a new stake in NGL Energy Partners in the 4th quarter worth approximately $58,000. 37.51% of the stock is owned by institutional investors.
NGL Energy Partners Company Profile
NGL Energy Partners LP engages in the crude oil and liquids logistics, and water solution 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.
Recommended Story: Real Estate Investment Trust (REIT) ETF
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for NGL Energy Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NGL Energy Partners and related companies with MarketBeat.com's FREE daily email newsletter.