Raymond James analyst Justin Jenkins maintained a Hold rating on NGL Energy Partners (NGL) yesterday. The company’s shares closed last Monday at $2.72, close to its 52-week low of $1.15.
According to TipRanks.com, Jenkins is a 1-star analyst with an average return of 0.0% and a 55.0% success rate. Jenkins covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Holly Energy Partners, and Crossamerica Partners.
The word on The Street in general, suggests a Hold analyst consensus rating for NGL Energy Partners with a $4.25 average price target.
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Based on NGL Energy Partners’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $844 million and GAAP net loss of $35.3 million. In comparison, last year the company earned revenue of $1.87 billion and had a net profit of $8.31 million.
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NGL Energy Partners LP engages in the ownership and operation of a vertically integrated energy business. It operates through the following segments: Crude Oil Logistics; Water Solutions; Liquids; Refined Products and Renewables; and Corporate and Other. The Crude Oil Logistics segment purchases crude oil from producers and transports it to refineries or for resale at owned and leased pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs. The Water Solutions segment provides services for the treatment and disposal of wastewater generated from crude oil and natural gas production and for the disposal of solids such as tank bottoms and drilling fluids and perform trucks washouts. The Liquid segment supplies natural gas liquids to retailers, wholesalers, refiners, and petrochemical plants. The Refined Products and Renewables segment conducts gasoline, diesel, ethanol, and biodiesel marketing operations. The Corporate and Other segment include corporate expenses that are not allocated to the reportable segments. The company was founded in 1940 and is headquartered in Tulsa, OK.
