Have you suffered losses in Legacy Reserves MLP? If so, the securities attorneys of The White Law Group may be able to help you recover those losses from the brokerage firm or financial advisor that recommended the investment.
Legacy Reserves LP (Legacy) is a master limited partnership company focused on the acquisition and development of oil and natural gas properties located in the Permian Basin, Rocky Mountain and Mid-Continent regions of the United States.
According to the Market Digest, Legacy Reserves LP (LGCY) was downgraded by Stifel to ” Sell” and the brokerage firm has set the Price Target at $0.50. Earlier the firm had a rating of “Hold ”on the company shares,. Stifel advised their investors in a research report released on Sep 19, 2016.
On the company’s financial health, Legacy Reserves LP reported $-0.81 EPS for the quarter, missing the analyst consensus estimate by $ -0.49 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.32. The company had revenue of $73.37 million for the quarter, compared to analysts expectations of $92.00 million. The company’s revenue was down -16.4 % compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.63 EPS.
Unfortunately for investors in these products, most oil and gas MLPs are down substantially in the last year.
Most MLPs earn money by charging oil-and-gas producers to transport or store their products. MLPs have also been popular in recent years because they have provided relatively high returns to otherwise income-starved investors.
If your financial advisor over-concentrated your portfolio in MLPs, you may have a viable claim to recover your losses. Financial advisors are required to make suitable investment recommendations, accounting for your age, income, net worth, investment experience, and investment objectives. Diversification is the key to reducing risk. As such, over-concentrated exposure to any sector or investment (but particularly volatile industries like oil and gas which are so dependent on global demand and supply), can be unsuitable for many investors.
The White Law Group continues to investigate the liability that brokerage firms may have for making bad bets on MLPs like the Legacy Reserves MLP.
If you lost money investing in the Legacy Reserves MLP and would like to discuss your litigation options, please call the securities arbitration attorneys of The White Law Group at (888)637-5510 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee. For more information on the firm and its representation of investors in FINRA arbitration claims, visithttps://whitesecuritieslaw.com.
Tags: biggest investment losers of 2015, Legacy Reserves LP complaints, Legacy Reserves LP investigation, Legacy Reserves LP investment, Legacy Reserves LP K1, Legacy Reserves LP litigation, Legacy Reserves LP losses, Legacy Reserves LP news, Legacy Reserves LP oil and gas, Legacy Reserves LP performance, Legacy Reserves LP recovery, Legacy Reserves LP risky, Legacy Reserves LP securities arbitration, Legacy Reserves LP securities fraud, Legacy Reserves MLP attorney, Legacy Reserves MLP class action, Legacy Reserves MLP current value, Legacy Reserves MLP investigation, Legacy Reserves MLP latest news, Legacy Reserves MLP lawsuit, Legacy Reserves MLP lawyer, Legacy Reserves MLP losses, Legacy Reserves MLP performance, Legacy Reserves MLP risks, worst oil and gas performers of 2015 Last modified: June 27, 2017