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Rating: NGL

NGL Energy Partners LP (NYSE: NGL) downgraded to Underperform by BofA/Merrill

Thursday,  Dec 10, 2015  12:25 PM ET by Lynn Gilbert

BofA/Merrill downgraded NGL Energy Partners LP (NYSE: NGL) to Underperform. Previously,
BofA/Merrill rated NGL Energy Partners LP (NYSE: NGL) to Buy on 07/22/2013, when the stock price was valued at $29.09.

NGL Energy Partners LP is a limited partnership company formed to own and operate a vertically-integrated propane business. The Company operates in three segments: retail propane; wholesale supply and marketing; and midstream. Its retail propane business sells propane to end users consisting of residential, agricultural, commercial and industrial customers. The Company?s wholesale supply and marketing business supplies propane and other natural gas liquids and provides related storage to retailers, wholesalers and refiners. Its midstream business, which consists of its propane terminaling business, takes delivery of propane from pipelines or trucks at its propane terminals and transfers the propane to third-party transport trucks for delivery to retailers, wholesalers or other consumers. On October 14, 2010, it executed a series of transactions (the Combination) with NGL Supply, Inc. (NGL Supply).


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