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Well-Diversified Portfolio Offers Natural Hedges for NGL Energy Partners LP

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In a report published Wednesday, Wunderlich Securities analyst Abhishek Sinha reiterated a Buy rating and $36.00 price target on NGL Energy Partners LP (NYSE: NGL).

In the report, Wunderlich Securities noted, "Buy-rated NGL Energy Partners LP (NGL) reported F3Q15 Adj. EBITDA of $145mm versus our estimated $133mm and the consensus of $133mm. DCF per unit at $1.07 was higher than our estimated $0.96. NGL reaffirmed its FY15 Adj. EBITDA guidance of $410-$425mm and FY16 distribution growth of 6%-8%."

The report continued, "NGL also began construction of its Grand Mesa Pipeline after a successful open season. For more details on our view on NGL's results and operations, please see our note published yesterday, February 10. In our view, the poor commodity backdrop would continue to challenge its crude and NGL segments for next six to nine months. However, NGL's well-diversified portfolio across its five segments offers natural hedges and helps it maintain a steady cash flow even in the current rough commodity environment."

NGL Energy Partners LP closed on Tuesday at $29.20.

Latest Ratings for NGL

DateFirmActionFromTo
Nov 2019MaintainsNeutral
Nov 2019MaintainsOutperform
Oct 2019DowngradesBuyNeutral

View More Analyst Ratings for NGL
View the Latest Analyst Ratings

Posted-In: Abhishek Sinha Wunderlich SecuritiesAnalyst Color Reiteration Analyst Ratings

 

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