Redwood Family Wealth LLC Takes Position in NGL Energy Partners LP $NGL

Redwood Family Wealth LLC acquired a new position in shares of NGL Energy Partners LP (NYSE:NGL) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 54,851 shares of the oil and gas company’s stock, valued at approximately $549,000.

A number of other large investors have also recently modified their holdings of the business. CIBC Private Wealth Group LLC acquired a new stake in shares of NGL Energy Partners in the 3rd quarter valued at approximately $70,000. CIBC Bancorp USA Inc. acquired a new stake in shares of NGL Energy Partners in the third quarter valued at about $70,000. LPL Financial LLC acquired a new stake in NGL Energy Partners during the 4th quarter valued at approximately $120,000. Massar Capital Management LP raised its stake in NGL Energy Partners by 23.2% during the second quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company’s stock worth $120,000 after buying an additional 5,295 shares during the last quarter. Finally, State of Wyoming lifted its stake in shares of NGL Energy Partners by 184.0% in the 2nd quarter. State of Wyoming now owns 32,202 shares of the oil and gas company’s stock valued at $138,000 after purchasing an additional 20,864 shares during the period. Institutional investors and hedge funds own 40.62% of the company’s stock.

NGL Energy Partners Stock Down 1.4%

Shares of NYSE:NGL opened at $15.76 on Friday. NGL Energy Partners LP has a twelve month low of $3.94 and a twelve month high of $18.80. The stock’s 50 day moving average is $15.80 and its 200-day moving average is $12.71. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of -4.80 and a beta of 0.58.

NGL Energy Partners (NYSE:NGL) last announced its quarterly earnings results on Thursday, May 28th. The oil and gas company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.89). The business had revenue of $949.51 million for the quarter, compared to the consensus estimate of $941.52 million. NGL Energy Partners had a negative net margin of 4.51% and a negative return on equity of 47.64%. Equities research analysts anticipate that NGL Energy Partners LP will post 0.82 earnings per share for the current fiscal year.

NGL Energy Partners declared that its board has initiated a share repurchase plan on Thursday, April 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the oil and gas company to buy up to 6.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NGL. Zacks Research upgraded shares of NGL Energy Partners from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Weiss Ratings cut shares of NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, NGL Energy Partners has an average rating of “Hold”.

NGL Energy Partners Company Profile

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.