Goldman Sachs Group Inc. lowered its stake in shares of NGL Energy Partners LP (NYSE:NGL) by 59.4% in the fourth quarter, Holdings Channel reports. The fund owned 1,585,031 shares of the oil and gas company’s stock after selling 2,323,452 shares during the quarter. Goldman Sachs Group Inc.’s holdings in NGL Energy Partners were worth $22,270,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of NGL. BNP Paribas Arbitrage SA increased its stake in shares of NGL Energy Partners by 399.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,983 shares of the oil and gas company’s stock valued at $104,000 after acquiring an additional 7,183 shares during the last quarter. Commonwealth Equity Services Inc acquired a new position in shares of NGL Energy Partners during the 3rd quarter valued at about $117,000. Edge Advisors LLC acquired a new position in shares of NGL Energy Partners during the 4th quarter valued at about $210,000. Virtu Financial LLC acquired a new position in shares of NGL Energy Partners during the 4th quarter valued at about $227,000. Finally, Koch Industries Inc. acquired a new position in shares of NGL Energy Partners during the 4th quarter valued at about $272,000. 65.60% of the stock is owned by institutional investors.
A number of research firms have recently commented on NGL. Stifel Nicolaus set a $11.00 price objective on shares of NGL Energy Partners and gave the company a “hold” rating in a research note on Wednesday, March 14th. UBS reaffirmed a “buy” rating and set a $17.00 price objective (down previously from $17.50) on shares of NGL Energy Partners in a research note on Friday, March 2nd. ValuEngine raised shares of NGL Energy Partners from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Zacks Investment Research downgraded shares of NGL Energy Partners from a “hold” rating to a “sell” rating in a research note on Friday, February 16th. Finally, Credit Suisse Group began coverage on shares of NGL Energy Partners in a research note on Thursday, January 4th. They set an “outperform” rating and a $16.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $15.80.
Shares of NGL Energy Partners LP (NYSE:NGL) opened at $10.40 on Monday. The stock has a market cap of $1,259.27, a P/E ratio of -6.08 and a beta of 1.02. NGL Energy Partners LP has a 1 year low of $8.57 and a 1 year high of $23.19. The company has a current ratio of 1.69, a quick ratio of 1.14 and a debt-to-equity ratio of 1.64.
NGL Energy Partners (NYSE:NGL) last posted its earnings results on Friday, February 9th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.13. The firm had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $3.96 billion. NGL Energy Partners had a negative net margin of 0.97% and a negative return on equity of 1.85%. analysts expect that NGL Energy Partners LP will post -0.66 earnings per share for the current year.
About NGL Energy Partners
NGL Energy Partners LP owns and operates a vertically integrated energy business. The Company’s segments are crude oil logistics, water solutions, liquids, retail propane, refined products and renewables, and corporate and other. Its crude oil logistics segment includes owned and leased crude oil storage terminals, and owned and leased pipeline injection stations.
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