Bank of Montreal Can Acquires New Stake in NGL Energy Partners LP (NGL)
Bank of Montreal Can bought a new stake in shares of NGL Energy Partners LP (NYSE:NGL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 397,200 shares of the company’s stock, valued at approximately $7,674,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Acadian Asset Management LLC acquired a new position in shares of NGL Energy Partners during the second quarter valued at about $4,683,000. Hollencrest Securities LLC purchased a new stake in shares of NGL Energy Partners during the second quarter worth about $1,532,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of NGL Energy Partners by 102.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 70,618 shares of the company’s stock worth $531,000 after buying an additional 35,806 shares during the last quarter. Barclays PLC raised its stake in shares of NGL Energy Partners by 92.1% in the first quarter. Barclays PLC now owns 242,866 shares of the company’s stock worth $1,701,000 after buying an additional 116,470 shares during the last quarter. Finally, Pinnacle Holdings LLC raised its stake in shares of NGL Energy Partners by 1.6% in the first quarter. Pinnacle Holdings LLC now owns 356,970 shares of the company’s stock worth $2,684,000 after buying an additional 5,591 shares during the last quarter.
Shares of NGL Energy Partners LP (NYSE:NGL) traded up 0.69% during trading on Friday, hitting $19.05. The stock had a trading volume of 348,089 shares. NGL Energy Partners LP has a one year low of $5.57 and a one year high of $22.31. The stock’s 50 day moving average price is $18.27 and its 200-day moving average price is $15.85. The stock’s market cap is $2.01 billion.
NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings data on Thursday, August 4th. The company reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $1.50. The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.48 billion. Analysts expect that NGL Energy Partners LP will post $2.56 earnings per share for the current fiscal year.
A number of analysts recently issued reports on the company. Zacks Investment Research upgraded NGL Energy Partners from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Thursday, June 30th. Wunderlich upgraded NGL Energy Partners from a “hold” rating to a “buy” rating and boosted their price target for the company from $13.00 to $20.00 in a report on Monday, June 13th. FBR & Co assumed coverage on NGL Energy Partners in a report on Friday, September 9th. They issued a “market perform” rating and a $21.00 price target for the company. Finally, Stifel Nicolaus boosted their price target on NGL Energy Partners from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, August 5th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $14.44.
In related news, CEO H Michael Krimbill acquired 20,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was purchased at an average price of $17.31 per share, with a total value of $346,200.00. Following the transaction, the chief executive officer now owns 789,417 shares of the company’s stock, valued at approximately $13,664,808.27. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
About NGL Energy Partners
NGL Energy Partners LP owns and operates a vertically integrated energy business. The Company’s segments are crude oil logistics, water solutions, liquids, retail propane, refined products and renewables, and corporate and other. Its crude oil logistics segment includes owned and leased crude oil storage terminals, and owned and leased pipeline injection stations.
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