Insider Buying: NGL Energy Partners (NYSE:NGL) Director Acquires $38,913.00 in Stock

NGL Energy Partners LP (NYSE:NGL) Director James Collingsworth bought 2,289 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $38,913.00. Following the acquisition, the director directly owned 766,797 shares of the company’s stock, valued at $13,035,549. The trade was a 0.30% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

NGL Energy Partners Stock Up 0.4%

Shares of NYSE NGL opened at $18.09 on Monday. The stock has a market cap of $2.26 billion, a P/E ratio of -6.37 and a beta of 0.63. The firm’s 50-day simple moving average is $16.23 and its 200 day simple moving average is $14.84. NGL Energy Partners LP has a fifty-two week low of $5.32 and a fifty-two week high of $18.80.

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

Hedge Funds Weigh In On NGL Energy Partners

Hedge funds have recently made changes to their positions in the business. Corient Private Wealth LP bought a new position in NGL Energy Partners during the second quarter worth about $159,000. CIBC Bancorp USA Inc. bought a new stake in NGL Energy Partners in the third quarter valued at $70,000. CIBC Private Wealth Group LLC acquired a new position in NGL Energy Partners during the third quarter worth $70,000. LPL Financial LLC bought a new position in shares of NGL Energy Partners during the fourth quarter valued at $120,000. Finally, Royal Bank of Canada boosted its stake in shares of NGL Energy Partners by 71.2% in the 4th quarter. Royal Bank of Canada now owns 14,454 shares of the oil and gas company’s stock valued at $145,000 after purchasing an additional 6,009 shares in the last quarter. Institutional investors and hedge funds own 40.62% of the company’s stock.

Wall Street Analysts Forecast Growth

NGL has been the topic of several research reports. Zacks Research raised NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Wall Street Zen upgraded shares of NGL Energy Partners from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. 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 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.com, the company has an average rating of “Buy”.

NGL Energy Partners Company Profile

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.