Redwood Family Wealth LLC Acquires Shares of 54,851 NGL Energy Partners LP $NGL

Redwood Family Wealth LLC purchased a new stake in shares of NGL Energy Partners LP (NYSE:NGL) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 54,851 shares of the oil and gas company’s stock, valued at approximately $549,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NGL. Angelo Gordon & CO. L.P. grew its holdings in shares of NGL Energy Partners by 291.7% in the third quarter. Angelo Gordon & CO. L.P. now owns 2,504,447 shares of the oil and gas company’s stock valued at $15,027,000 after acquiring an additional 1,865,003 shares in the last quarter. Bank of America Corp DE boosted its position in NGL Energy Partners by 18.7% in the third quarter. Bank of America Corp DE now owns 11,728,872 shares of the oil and gas company’s stock worth $70,373,000 after purchasing an additional 1,843,849 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in NGL Energy Partners by 9.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 7,522,370 shares of the oil and gas company’s stock worth $75,224,000 after purchasing an additional 651,779 shares during the last quarter. BNP Paribas Financial Markets grew its stake in NGL Energy Partners by 2,963.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 292,261 shares of the oil and gas company’s stock valued at $1,754,000 after purchasing an additional 282,721 shares during the period. Finally, ING Groep NV grew its stake in NGL Energy Partners by 4.9% in the 4th quarter. ING Groep NV now owns 5,174,803 shares of the oil and gas company’s stock valued at $51,748,000 after purchasing an additional 243,000 shares during the period. Hedge funds and other institutional investors own 40.62% of the company’s stock.

NGL Energy Partners Stock Performance

NGL stock opened at $15.76 on Friday. The stock has a fifty day moving average of $15.80 and a 200-day moving average of $12.71. NGL Energy Partners LP has a fifty-two week low of $3.94 and a fifty-two week high of $18.80. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of -4.80 and a beta of 0.58.

NGL Energy Partners (NYSE:NGL) last announced its quarterly earnings data on Thursday, May 28th. The oil and gas company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.89). The firm had revenue of $949.51 million during the quarter, compared to the consensus estimate of $941.52 million. NGL Energy Partners had a negative net margin of 4.51% and a negative return on equity of 47.64%. Equities analysts predict that NGL Energy Partners LP will post 0.82 EPS for the current year.

NGL Energy Partners announced that its board has initiated a stock repurchase plan on Thursday, April 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to buy up to 6.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

NGL has been the topic of a number of recent analyst reports. Weiss Ratings cut NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Zacks Research upgraded shares of NGL Energy Partners from a “strong sell” rating to a “hold” rating in a research note on Friday, April 10th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

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.