NGL Energy Partners (NYSE:NGL) Upgraded to “Buy” at StockNews.com

NGL Energy Partners (NYSE:NGL) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

NGL Energy Partners Stock Down 3.4 %

NYSE NGL traded down $0.17 on Monday, hitting $4.67. The stock had a trading volume of 912,773 shares, compared to its average volume of 499,527. The stock has a market cap of $615.84 million, a price-to-earnings ratio of -1.85 and a beta of 1.71. The company’s 50-day moving average is $5.08 and its two-hundred day moving average is $4.65. NGL Energy Partners has a one year low of $3.84 and a one year high of $6.20.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings data on Monday, February 10th. The oil and gas company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.25). NGL Energy Partners had a negative return on equity of 29.77% and a negative net margin of 3.57%. On average, sell-side analysts anticipate that NGL Energy Partners will post -0.22 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO H Michael Krimbill acquired 15,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were bought at an average price of $4.49 per share, with a total value of $67,350.00. Following the purchase, the chief executive officer now owns 603,000 shares of the company’s stock, valued at approximately $2,707,470. This represents a 2.55 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Trading of NGL Energy Partners

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of NGL Energy Partners by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,008,565 shares of the oil and gas company’s stock worth $22,539,000 after buying an additional 154,098 shares in the last quarter. Citigroup Inc. raised its stake in shares of NGL Energy Partners by 15.9% in the 3rd quarter. Citigroup Inc. now owns 2,427,108 shares of the oil and gas company’s stock worth $10,922,000 after buying an additional 333,531 shares in the last quarter. Van ECK Associates Corp grew its position in NGL Energy Partners by 42.4% in the fourth quarter. Van ECK Associates Corp now owns 31,672 shares of the oil and gas company’s stock worth $158,000 after buying an additional 9,426 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of NGL Energy Partners by 350.0% in the third quarter. International Assets Investment Management LLC now owns 12,600 shares of the oil and gas company’s stock valued at $57,000 after buying an additional 9,800 shares in the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of NGL Energy Partners by 33.3% in the third quarter. Tidal Investments LLC now owns 35,527 shares of the oil and gas company’s stock valued at $160,000 after buying an additional 8,877 shares in the last quarter. Institutional investors own 40.62% of the company’s stock.

NGL Energy Partners Company Profile

NGL Energy Partners LP engages in the transportation, storage, blending, and marketing of crude oil, natural gas liquids, refined products / renewables, and water solutions. The company operates in three segments: Water Solutions, Crude Oil Logistics, and Liquids Logistics. The Water Solutions segment transports, treats, recycles, and disposes produced and flowback water generated from oil and natural gas production; aggregates and sells recovered crude oil; disposes solids, such as tank bottoms, and drilling fluid and muds, as well as performs truck and frac tank washouts; and sells produced water for reuse and recycle, and brackish non-potable water.