ING Groep NV Grows Stock Position in NGL Energy Partners LP $NGL

ING Groep NV grew its stake in NGL Energy Partners LP (NYSE:NGL) by 229.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,931,803 shares of the oil and gas company’s stock after purchasing an additional 3,436,000 shares during the period. ING Groep NV’s holdings in NGL Energy Partners were worth $29,591,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NGL. CreativeOne Wealth LLC raised its position in NGL Energy Partners by 15.7% during the second quarter. CreativeOne Wealth LLC now owns 17,700 shares of the oil and gas company’s stock valued at $76,000 after acquiring an additional 2,400 shares in the last quarter. Massar Capital Management LP grew its stake 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 period. Simon Quick Advisors LLC acquired a new stake in shares of NGL Energy Partners during the 3rd quarter worth approximately $129,000. State of Wyoming increased its holdings in shares of NGL Energy Partners by 184.0% during the 2nd quarter. State of Wyoming now owns 32,202 shares of the oil and gas company’s stock valued at $138,000 after purchasing an additional 20,864 shares in the last quarter. Finally, Carter Financial Group INC. acquired a new position in shares of NGL Energy Partners in the 2nd quarter valued at $277,000. 40.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NGL. Weiss Ratings reissued a “hold (c)” rating on shares of NGL Energy Partners in a report on Wednesday, January 28th. Zacks Research upgraded shares of NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy”.

NGL Energy Partners Price Performance

Shares of NYSE:NGL opened at $12.03 on Wednesday. The business’s 50 day moving average price is $10.26 and its 200-day moving average price is $7.85. NGL Energy Partners LP has a 1 year low of $2.64 and a 1 year high of $13.00. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 300.83 and a beta of 0.31.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). The company had revenue of $909.82 million for the quarter, compared to analyst estimates of $700.76 million. NGL Energy Partners had a negative return on equity of 66.52% and a net margin of 5.01%. On average, sell-side analysts expect that NGL Energy Partners LP will post -0.22 earnings per share for the current year.

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.