NGL Energy Partners (NGL) Bond Prices Rise 1.3%

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An issue of NGL Energy Partners LP (NYSE:NGL) debt rose 1.3% against its face value during trading on Friday. The debt issue has a 6.125% coupon and will mature on March 1, 2025. The debt is now trading at $96.50 and was trading at $94.50 last week. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.

A number of research firms have commented on NGL. Guggenheim began coverage on NGL Energy Partners in a research report on Sunday, December 9th. They issued a “buy” rating and a $16.00 target price on the stock. Credit Suisse Group downgraded NGL Energy Partners from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $14.00 to $15.00 in a report on Wednesday, February 20th. Zacks Investment Research upgraded NGL Energy Partners from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Wednesday, January 16th. ValuEngine upgraded NGL Energy Partners from a “sell” rating to a “hold” rating in a report on Wednesday, February 13th. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of NGL Energy Partners in a report on Wednesday, February 13th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $13.67.

Shares of NGL stock traded up $0.27 on Friday, hitting $13.51. The stock had a trading volume of 1,595,373 shares, compared to its average volume of 1,298,376. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $1.68 billion, a PE ratio of -19.87 and a beta of 1.30. NGL Energy Partners LP has a 1 year low of $8.71 and a 1 year high of $14.15.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings data on Monday, February 11th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.49. NGL Energy Partners had a return on equity of 1.21% and a net margin of 1.51%. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.11 billion. Research analysts predict that NGL Energy Partners LP will post -0.81 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BOKF NA increased its holdings in NGL Energy Partners by 4.3% during the 4th quarter. BOKF NA now owns 33,023 shares of the oil and gas company’s stock worth $317,000 after purchasing an additional 1,358 shares during the period. Capital Investment Advisory Services LLC purchased a new stake in NGL Energy Partners during the 4th quarter worth about $35,000. Advisor Group Inc. increased its holdings in NGL Energy Partners by 77.8% during the 4th quarter. Advisor Group Inc. now owns 10,833 shares of the oil and gas company’s stock worth $104,000 after purchasing an additional 4,739 shares during the period. Northern Trust Corp increased its holdings in NGL Energy Partners by 12.5% during the 2nd quarter. Northern Trust Corp now owns 46,927 shares of the oil and gas company’s stock worth $587,000 after purchasing an additional 5,224 shares during the period. Finally, Arrow Investment Advisors LLC increased its holdings in NGL Energy Partners by 14.2% during the 4th quarter. Arrow Investment Advisors LLC now owns 43,716 shares of the oil and gas company’s stock worth $419,000 after purchasing an additional 5,428 shares during the period. Institutional investors own 63.90% of the company’s stock.

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About NGL Energy Partners (NYSE:NGL)

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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