James Collingsworth Acquires 2,289 Shares of NGL Energy Partners (NYSE:NGL) Stock

NGL Energy Partners LP (NYSE:NGL) Director James Collingsworth acquired 2,289 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was bought at an average cost of $17.00 per share, with a total value of $38,913.00. Following the completion of the transaction, the director directly owned 766,797 shares in the company, valued at $13,035,549. The trade was a 0.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NGL Energy Partners Trading Up 3.3%

Shares of NGL Energy Partners stock opened at $18.09 on Friday. NGL Energy Partners LP has a 12-month low of $5.32 and a 12-month high of $18.80. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -6.37 and a beta of 0.63. The firm’s 50 day simple moving average is $16.23 and its two-hundred day simple moving average is $14.83.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.11 by $0.37. The business had revenue of $989.99 million during 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%. On average, sell-side analysts predict that NGL Energy Partners LP will post 1.38 EPS for the current fiscal year.

Hedge Funds Weigh In On NGL Energy Partners

Several large investors have recently made changes to their positions in the company. CIBC Bancorp USA Inc. purchased a new position in NGL Energy Partners in the third quarter valued at $70,000. CIBC Private Wealth Group LLC acquired a new position in shares of NGL Energy Partners during the 3rd quarter worth approximately $70,000. Massar Capital Management LP raised its position in shares of NGL Energy Partners by 23.2% during the 2nd quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company’s stock worth $120,000 after purchasing an additional 5,295 shares during the last quarter. LPL Financial LLC purchased a new stake in shares of NGL Energy Partners during the fourth quarter worth $120,000. Finally, State of Wyoming raised its holdings in 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 acquiring an additional 20,864 shares during the last quarter. 40.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NGL shares. Weiss Ratings lowered NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Wall Street Zen raised NGL Energy Partners from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Zacks Research upgraded NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a research 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 stock. According to data from MarketBeat, the stock presently 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.