Key Points
- Director James Collingsworth bought 2,289 NGL shares at $17 each, investing $38,913 and increasing his direct holdings by 0.30% to 766,797 shares.
- NGL shares opened at $18.09, up 3.3%, with a 52-week range of $5.32 to $18.80. The company reported quarterly EPS of $0.48, beating the $0.11 consensus estimate, while revenue reached $989.99 million.
- Analyst sentiment is currently “Buy,” following upgrades from Wall Street Zen and Zacks Research, although Weiss Ratings maintained a hold stance. Institutional investors own approximately 40.62% of the company.
NGL Energy Partners LP (NYSE:NGL - Get Free Report) Director James Collingsworth acquired 2,289 shares of NGL Energy Partners stock in a transaction on Thursday, August 27th. The stock was purchased at an average cost of $17.00 per share, with a total value of $38,913.00. Following the purchase, the director directly owned 766,797 shares of the company's stock, valued at approximately $13,035,549. This trade represents a 0.30% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.
NGL Energy Partners Stock Up 3.3%
Shares of NYSE:NGL opened at $18.09 on Friday. NGL Energy Partners LP has a twelve month low of $5.32 and a twelve month high of $18.80. The stock's 50 day moving average is $16.23 and its 200-day moving average is $14.83. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -6.37 and a beta of 0.63.
NGL Energy Partners (NYSE:NGL - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.37. The firm had revenue of $989.99 million for the quarter, compared to the consensus estimate of $346.13 million. NGL Energy Partners had a negative net margin of 3.76% and a negative return on equity of 39.51%. Equities research analysts anticipate that NGL Energy Partners LP will post 1.38 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research analysts recently issued reports on NGL shares. Wall Street Zen raised NGL Energy Partners from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Zacks Research upgraded NGL Energy Partners from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings downgraded shares of NGL Energy Partners from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy".
Get Our Latest Research Report on NGL Energy Partners
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of NGL. Bank of America Corp DE grew its stake in NGL Energy Partners by 18.7% in the 3rd quarter. Bank of America Corp DE now owns 11,728,872 shares of the oil and gas company's stock valued at $70,373,000 after purchasing an additional 1,843,849 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of NGL Energy Partners by 9.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,522,370 shares of the oil and gas company's stock worth $75,224,000 after purchasing an additional 651,779 shares during the period. ING Groep NV raised its stake in shares of NGL Energy Partners by 4.9% during the 4th quarter. ING Groep NV now owns 5,174,803 shares of the oil and gas company's stock worth $51,748,000 after purchasing an additional 243,000 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of NGL Energy Partners by 0.9% in the 4th quarter. JPMorgan Chase & Co. now owns 3,069,571 shares of the oil and gas company's stock worth $30,696,000 after buying an additional 28,659 shares during the last quarter. Finally, Angelo Gordon & CO. L.P. purchased a new position in shares of NGL Energy Partners in the 2nd quarter worth about $2,730,000. Hedge funds and other institutional investors own 40.62% of the company's stock.
About NGL Energy Partners
(
Get Free Report)
NGL Energy Partners LP is a publicly traded master limited partnership that provides midstream infrastructure and marketing services for the energy industry. The company focuses on the transportation, storage, fractionation and marketing of natural gas liquids (NGLs) and refined petroleum products. Through its integrated operations, NGL Energy Partners serves producers, processors, refiners and industrial customers across key U.S. energy-producing regions.
The partnership's asset base includes pipelines, storage terminals, fractionation plants, and distribution facilities.
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