John Raymond Acquires 300,000 Shares of NGL Energy Partners (NYSE:NGL) Stock

NGL Energy Partners LP (NYSE:NGL) Director John Raymond purchased 300,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were purchased at an average price of $16.98 per share, with a total value of $5,094,000.00. Following the acquisition, the director directly owned 376,626 shares in the company, valued at $6,395,109.48. This represents a 391.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NGL Energy Partners Price Performance

Shares of NGL opened at $17.52 on Friday. The business’s 50 day simple moving average is $16.18 and its 200-day simple moving average is $14.80. NGL Energy Partners LP has a 1 year low of $5.08 and a 1 year high of $18.80. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -6.17 and a beta of 0.63.

NGL Energy Partners (NYSE:NGL) last released its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.11 by $0.37. The business had revenue of $989.99 million during the quarter, compared to analyst estimates of $346.13 million. NGL Energy Partners had a negative net margin of 3.76% and a negative return on equity of 39.51%. On average, sell-side analysts expect that NGL Energy Partners LP will post 1.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in 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. Zacks Research upgraded NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings lowered shares of NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Hedge Funds Weigh In On NGL Energy Partners

A number of large investors have recently bought and sold shares of NGL. Bank of America Corp DE lifted its holdings in NGL Energy Partners by 18.7% during 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 buying an additional 1,843,849 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of NGL Energy Partners by 9.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 7,522,370 shares of the oil and gas company’s stock valued at $75,224,000 after acquiring an additional 651,779 shares during the period. ING Groep NV increased its holdings in shares of 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 acquiring an additional 243,000 shares during the period. JPMorgan Chase & Co. raised its position in shares of NGL Energy Partners by 0.9% in the 4th quarter. JPMorgan Chase & Co. now owns 3,069,571 shares of the oil and gas company’s stock worth $30,696,000 after acquiring an additional 28,659 shares in the last quarter. Finally, Angelo Gordon & CO. L.P. bought a new position in shares of NGL Energy Partners in the 2nd quarter worth $2,730,000. Institutional investors own 40.62% of the company’s stock.

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.