Insider Buying: NGL Energy Partners (NYSE:NGL) Director Acquires $181,790.56 in Stock

NGL Energy Partners LP (NYSE:NGL) Director James Collingsworth acquired 10,808 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was purchased at an average price of $16.82 per share, for a total transaction of $181,790.56. Following the acquisition, the director directly owned 764,308 shares in the company, valued at approximately $12,855,660.56. This trade represents a 1.43% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

NGL Energy Partners Price Performance

Shares of NGL Energy Partners stock opened at $18.09 on Friday. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of -6.37 and a beta of 0.63. The business has a 50-day moving average of $16.23 and a 200 day moving average of $14.83. NGL Energy Partners LP has a 12 month low of $5.32 and a 12 month high of $18.80.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. 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. Weiss Ratings cut NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Finally, Zacks Research upgraded 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 stock. According to MarketBeat, the stock presently has an average rating of “Buy”.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NGL. Quartz Partners LLC lifted its holdings in shares of NGL Energy Partners by 6.8% in the 1st quarter. Quartz Partners LLC now owns 16,504 shares of the oil and gas company’s stock valued at $203,000 after purchasing an additional 1,052 shares during the last quarter. Carter Financial Group INC. increased its position in NGL Energy Partners by 3.1% during the second quarter. Carter Financial Group INC. now owns 66,889 shares of the oil and gas company’s stock worth $1,066,000 after buying an additional 2,000 shares during the period. Wells Fargo & Company MN lifted its stake in NGL Energy Partners by 9.4% in the fourth quarter. Wells Fargo & Company MN now owns 34,800 shares of the oil and gas company’s stock valued at $348,000 after buying an additional 3,000 shares during the last quarter. XTX Topco Ltd boosted its holdings in shares of NGL Energy Partners by 9.0% in the fourth quarter. XTX Topco Ltd now owns 37,579 shares of the oil and gas company’s stock valued at $376,000 after acquiring an additional 3,103 shares during the period. Finally, Massar Capital Management LP boosted its holdings in shares of NGL Energy Partners by 23.2% in the second quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company’s stock valued at $120,000 after acquiring an additional 5,295 shares during the period. 40.62% of the stock is owned by hedge funds and other institutional investors.

About NGL Energy Partners

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.