NGL Energy Partners (NYSE:NGL) Upgraded at StockNews.com

StockNews.com upgraded shares of NGL Energy Partners (NYSE:NGL) from a hold rating to a buy rating in a research report released on Wednesday.

NGL Energy Partners Stock Up 2.8 %

NYSE NGL opened at $4.66 on Wednesday. NGL Energy Partners has a twelve month low of $3.84 and a twelve month high of $6.20. The company has a market cap of $614.52 million, a price-to-earnings ratio of -1.85 and a beta of 1.73. The business’s fifty day moving average is $5.05 and its 200 day moving average is $4.67.

NGL Energy Partners (NYSE:NGL) last announced its earnings results on Monday, February 10th. The oil and gas company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.25). NGL Energy Partners had a negative return on equity of 29.77% and a negative net margin of 3.57%. On average, research analysts anticipate that NGL Energy Partners will post -0.22 earnings per share for the current fiscal year.

Insider Transactions at NGL Energy Partners

In other news, CEO H Michael Krimbill bought 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average cost of $4.49 per share, with a total value of $67,350.00. Following the transaction, the chief executive officer now directly owns 603,000 shares of the company’s stock, valued at approximately $2,707,470. This represents a 2.55 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Trading of NGL Energy Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NGL. Invesco Ltd. increased its holdings in NGL Energy Partners by 0.4% during the 4th quarter. Invesco Ltd. now owns 19,647,133 shares of the oil and gas company’s stock worth $98,039,000 after purchasing an additional 85,000 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of NGL Energy Partners by 27.3% in the 4th quarter. Bank of America Corp DE now owns 6,812,752 shares of the oil and gas company’s stock worth $33,996,000 after buying an additional 1,461,754 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of NGL Energy Partners by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,008,565 shares of the oil and gas company’s stock worth $22,539,000 after buying an additional 154,098 shares during the last quarter. Citigroup Inc. boosted its stake in shares of NGL Energy Partners by 15.9% in the 3rd quarter. Citigroup Inc. now owns 2,427,108 shares of the oil and gas company’s stock worth $10,922,000 after buying an additional 333,531 shares during the last quarter. Finally, ING Groep NV boosted its stake in shares of NGL Energy Partners by 5.5% in the 3rd quarter. ING Groep NV now owns 1,561,803 shares of the oil and gas company’s stock worth $7,028,000 after buying an additional 80,803 shares during the last quarter. 40.62% of the stock is owned by institutional investors.

NGL Energy Partners Company Profile

NGL Energy Partners LP engages in the transportation, storage, blending, and marketing of crude oil, natural gas liquids, refined products / renewables, and water solutions. The company operates in three segments: Water Solutions, Crude Oil Logistics, and Liquids Logistics. The Water Solutions segment transports, treats, recycles, and disposes produced and flowback water generated from oil and natural gas production; aggregates and sells recovered crude oil; disposes solids, such as tank bottoms, and drilling fluid and muds, as well as performs truck and frac tank washouts; and sells produced water for reuse and recycle, and brackish non-potable water.