Prescott Group Capital Management L.L.C. Has $4.23 Million Stake in NGL Energy Partners LP $NGL

Prescott Group Capital Management L.L.C. grew its stake in NGL Energy Partners LP (NYSE:NGL) by 713.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 990,638 shares of the oil and gas company’s stock after purchasing an additional 868,800 shares during the quarter. Prescott Group Capital Management L.L.C. owned approximately 0.75% of NGL Energy Partners worth $4,230,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. ELCO Management Co. LLC grew its stake in shares of NGL Energy Partners by 26.2% in the 2nd quarter. ELCO Management Co. LLC now owns 197,580 shares of the oil and gas company’s stock worth $844,000 after acquiring an additional 40,960 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in NGL Energy Partners by 37.5% in the 2nd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 275,000 shares of the oil and gas company’s stock valued at $1,174,000 after buying an additional 75,000 shares during the last quarter. Windsor Advisory Group LLC purchased a new stake in NGL Energy Partners in the 1st quarter valued at about $45,000. Goldman Sachs Group Inc. lifted its position 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 worth $23,829,000 after buying an additional 165,249 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in NGL Energy Partners during the first quarter worth $1,300,000. 40.62% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NGL Energy Partners news, Director James M. Collingsworth bought 100,000 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were acquired at an average cost of $5.80 per share, for a total transaction of $580,000.00. Following the purchase, the director directly owned 729,500 shares of the company’s stock, valued at $4,231,100. The trade was a 15.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of NGL Energy Partners in a research report on Friday, October 31st. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

NGL Energy Partners Trading Up 3.3%

Shares of NGL Energy Partners stock opened at $9.50 on Friday. The company’s 50-day moving average price is $6.36 and its 200-day moving average price is $4.86. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -23.18 and a beta of 0.25. NGL Energy Partners LP has a 12-month low of $2.64 and a 12-month high of $9.61.

NGL Energy Partners (NYSE:NGL) last posted its earnings results on Tuesday, November 4th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $674.68 million for the quarter, compared to analysts’ expectations of $508.49 million. NGL Energy Partners had a net margin of 2.19% and a negative return on equity of 43.75%. On average, sell-side analysts predict that NGL Energy Partners LP will post -0.22 earnings per share for the current year.

NGL Energy Partners 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.