What Can We Expect After NGL Energy Partners (NYSE:NGL)’s Downgrade By BofA Merrill?

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NGL Energy Partners (NYSE:NGL) Receives a Downgrade

In analysts note distributed on Thursday, 10 December, BofA Merrill lowered shares of NGL Energy Partners (NYSE:NGL) to a lower Underperform rating from the previous Buy rating.

From a total of 10 analysts covering NGL ENERGY PARTNERS LP (NYSE:NGL) stock, 9 rate it a ”Buy”, 0 a “Sell”, and 2 a ”Hold”. This means that 82% of the ratings are positive. The highest target price is $40 while the lowest target price is $20. The mean of all analyst targets is $27.1 with a 127.06% above today’s ($10.57) stock price. NGL ENERGY PARTNERS LP was the topic of 9 analyst reports since August 11, 2015 according to the firm StockzIntelligence Inc. Barclays Capital maintained shares on November 11 with “Equal Weight” rating. Wunderlich maintained NGL stock in a recent report from November 11 with “Buy” rating.

Approximately 3.13M shares of stock traded hands or 291.36% up from the average. NGL Energy Partners LP (NYSE:NGL) has declined 61.59% since May 7, 2015 and is downtrending. It has underperformed by 59.66% the S&P500.

The overall sentiment of institutions has decreased to 0.81 in Q2 2015. Its down 0.52, from 1.33 in 2015Q2. The ratio worsened, as 18 institutions have sold all the shares of NGL Energy Partners LP that they owned while 44 funds have taken shares off the table. 15 funds have purchased shares for the first time while 35 added to their positions. These institutions now hold 57.84 million shares or 1.33% less than the 58.63 million shares they owned in 2015Q2.

The Fund Salient Capital Advisors Llc currently is holding shares equating to 2.68% of its total portfolio in NGL Energy Partners LP representing a total of 5.52 million shares. Another fund,Cushing Asset Management Lp, is holding a total of 2.86 million shares equating to 2.17% of their holdings. Additionally, Ngp Mr Management Llc has a 176,634 share stake in NGL Energy Partners LP which represents 2.11% of their total portfolio. The Fund, Eagle Global Advisors Llc, based out of Texas, has also built up a stake in the stock, which represents a total of 1.92% of their total portfolio. Finally Energy Income Partners Llc, a fund which is based in the state of Connecticut reported a total holdings of 3.57 million shares.

NGL Energy Partners LP is a limited partnership firm that is a vertically-integrated service provider. The company has a market cap of $981.54 million.

According to Zacks Investment Research, “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.” Get a free copy of the Zacks research report on NGL Energy Partners LP (NGL).

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