NGL Energy Partners (NGL) Coverage Initiated at Credit Suisse Group

Research analysts at Credit Suisse Group started coverage on shares of NGL Energy Partners (NYSE:NGL) in a research report issued 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 target price points to a potential upside of 30.66% from the stock’s current price.

Several other equities research analysts also recently commented on NGL. Zacks Investment Research downgraded NGL Energy Partners from a “buy” rating to a “hold” rating in a report on Thursday, June 14th. TheStreet raised NGL Energy Partners from a “d+” rating to a “c-” rating in a report on Monday, June 25th. Bank of America started coverage on NGL Energy Partners in a report on Tuesday, July 10th. They issued a “buy” rating and a $15.00 target price on the stock. ValuEngine raised NGL Energy Partners from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. Finally, Stifel Nicolaus boosted their target price on NGL Energy Partners from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Tuesday, August 14th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $14.00.

NYSE NGL opened at $11.48 on Thursday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.59 and a current ratio of 2.14. NGL Energy Partners has a twelve month low of $10.00 and a twelve month high of $17.65. The company has a market cap of $1.42 billion, a P/E ratio of -16.88 and a beta of 1.16.



NGL Energy Partners (NYSE:NGL) last released its earnings results on Tuesday, August 7th. The oil and gas company reported ($1.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.93). NGL Energy Partners had a negative return on equity of 0.54% and a negative net margin of 1.01%. The company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $4.53 billion. Research analysts predict that NGL Energy Partners will post -0.44 EPS for the current fiscal year.

In other NGL Energy Partners news, Director John T. Raymond purchased 50,000 shares of the firm’s stock in a transaction dated Friday, September 14th. The stock was purchased at an average price of $11.04 per share, for a total transaction of $552,000.00. Following the completion of the purchase, the director now directly owns 50,000 shares of the company’s stock, valued at $552,000. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO H Michael Krimbill purchased 20,000 shares of the firm’s stock in a transaction dated Friday, August 31st. The stock was acquired at an average price of $11.65 per share, with a total value of $233,000.00. The disclosure for this purchase can be found here.

Hedge funds have recently bought and sold shares of the company. Kayne Anderson Capital Advisors LP purchased a new position in shares of NGL Energy Partners in the second quarter worth $125,000. Hilltop Holdings Inc. purchased a new position in shares of NGL Energy Partners in the first quarter worth $121,000. Russell Investments Group Ltd. purchased a new position in shares of NGL Energy Partners in the second quarter worth $166,000. Gibraltar Capital Management Inc. purchased a new position in shares of NGL Energy Partners in the third quarter worth $201,000. Finally, Centaurus Financial Inc. purchased a new position in shares of NGL Energy Partners in the second quarter worth $246,000. Hedge funds and other institutional investors own 63.34% of the company’s stock.

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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