NGL Energy Partners (NYSE:NGL) Director Purchases $413,610.00 in Stock

NGL Energy Partners LP (NYSE:NGL) Director John Raymond acquired 25,500 shares of NGL Energy Partners stock in a transaction dated Monday, August 24th. The shares were acquired at an average price of $16.22 per share, with a total value of $413,610.00. Following the completion of the acquisition, the director directly owned 76,626 shares of the company’s stock, valued at approximately $1,242,873.72. The trade was a 49.88% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

NGL Energy Partners Trading Up 6.7%

Shares of NGL traded up $1.10 on Tuesday, reaching $17.43. The company’s stock had a trading volume of 434,926 shares, compared to its average volume of 299,003. NGL Energy Partners LP has a twelve month low of $5.01 and a twelve month high of $18.80. The stock has a market capitalization of $2.18 billion, a PE ratio of -6.13 and a beta of 0.63. The firm has a fifty day moving average of $16.08 and a 200-day moving average of $14.69.

NGL Energy Partners (NYSE:NGL) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.37. NGL Energy Partners had a negative return on equity of 39.51% and a negative net margin of 3.76%.The business had revenue of $989.99 million during the quarter, compared to the consensus estimate of $346.13 million. As a group, equities analysts anticipate that NGL Energy Partners LP will post 1.38 EPS for the current fiscal year.

Institutional Trading of NGL Energy Partners

Several hedge funds and other institutional investors have recently modified their holdings of NGL. Goldman Sachs Group Inc. lifted its stake in shares of NGL Energy Partners by 3.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,248,614 shares of the oil and gas company’s stock valued at $23,829,000 after buying an additional 165,249 shares in the last quarter. Jump Financial LLC raised its holdings in NGL Energy Partners by 223.4% during the 2nd quarter. Jump Financial LLC now owns 224,779 shares of the oil and gas company’s stock valued at $960,000 after acquiring an additional 155,279 shares during the period. Angelo Gordon & CO. L.P. bought a new stake in NGL Energy Partners during the 2nd quarter valued at $2,730,000. Bank of America Corp DE lifted its position in shares of NGL Energy Partners by 8.8% during the second quarter. Bank of America Corp DE now owns 9,885,023 shares of the oil and gas company’s stock worth $42,209,000 after acquiring an additional 797,895 shares in the last quarter. Finally, Massar Capital Management LP lifted its position in shares of 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 acquiring an additional 5,295 shares in the last quarter. Institutional investors own 40.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NGL. Weiss Ratings downgraded shares of NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Wall Street Zen raised shares of NGL Energy Partners from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Zacks Research raised NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy”.

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.