NEW YORK (TheStreet) -- Shares of NGL Energy Partners LP (NGL) are higher by 3.24% to $43.28 today after the company agreed to buy Morgan Stanley's (MS) controlling stake in TransMontaigne Inc. (TLP), an oil storage and transport company.
NGL Energy, a propane company based in Oklahoma, will acquire Morgan Stanley's stake for $200 million in cash, gaining a 19.7% stake in TransMontaigne Partners LP.
Morgan Stanley agreed to the sale as part of its continuing efforts to lower the capital used by the commodities business, according to Bloomberg.
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Separately, TheStreet Ratings team rates NGL ENERGY PARTNERS LP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate NGL ENERGY PARTNERS LP (NGL) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."