Allianz Asset Management GmbH cut its stake in NGL Energy Partners LP (NYSE:NGL) by 13.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,461 shares of the oil and gas company’s stock after selling 5,393 shares during the period. Allianz Asset Management GmbH’s holdings in NGL Energy Partners were worth $368,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Cetera Advisor Networks LLC increased its holdings in NGL Energy Partners by 19.6% in the first quarter. Cetera Advisor Networks LLC now owns 32,449 shares of the oil and gas company’s stock valued at $357,000 after buying an additional 5,328 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of NGL Energy Partners by 70.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 24,106 shares of the oil and gas company’s stock worth $265,000 after purchasing an additional 9,986 shares in the last quarter. Hilltop Holdings Inc. purchased a new position in shares of NGL Energy Partners during the 1st quarter worth approximately $121,000. Deutsche Bank AG increased its stake in shares of NGL Energy Partners by 57.1% during the 4th quarter. Deutsche Bank AG now owns 60,665 shares of the oil and gas company’s stock worth $852,000 after purchasing an additional 22,052 shares in the last quarter. Finally, Atlantic Trust Group LLC increased its stake in shares of NGL Energy Partners by 2.9% during the 1st quarter. Atlantic Trust Group LLC now owns 1,840,846 shares of the oil and gas company’s stock worth $20,250,000 after purchasing an additional 52,571 shares in the last quarter. 64.78% of the stock is owned by institutional investors.

In related news, Director Highstar Capital Iv, L.P. sold 133,464 shares of the firm’s stock in a transaction that occurred on Tuesday, June 26th. The shares were sold at an average price of $12.81, for a total transaction of $1,709,673.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James M. Collingsworth bought 25,870 shares of the firm’s stock in a transaction that occurred on Tuesday, June 5th. The shares were purchased at an average price of $11.65 per share, for a total transaction of $301,385.50. The disclosure for this purchase can be found here.

NGL has been the subject of a number of recent research reports. Zacks Investment Research raised shares of NGL Energy Partners from a “sell” rating to a “hold” rating in a research note on Saturday, May 12th. ValuEngine cut shares of NGL Energy Partners from a “hold” rating to a “sell” rating in a research note on Friday, June 1st. TheStreet raised shares of NGL Energy Partners from a “d+” rating to a “c-” rating in a research note on Monday, June 25th. Finally, Bank of America initiated coverage on shares of NGL Energy Partners in a research note on Tuesday, July 10th. They set a “buy” rating and a $15.00 price objective for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $14.67.

Shares of NGL Energy Partners opened at $12.85 on Tuesday, according to MarketBeat.com. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.61 and a quick ratio of 1.11. NGL Energy Partners LP has a 1-year low of $8.57 and a 1-year high of $17.65. The company has a market cap of $1.54 billion, a PE ratio of -18.60 and a beta of 1.07.

NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings data on Wednesday, May 30th. The oil and gas company reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.26. NGL Energy Partners had a negative net margin of 0.41% and a negative return on equity of 1.20%. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $4.56 billion. sell-side analysts expect that NGL Energy Partners LP will post -0.25 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 14th. Investors of record on Wednesday, August 8th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, August 7th. This represents a $1.56 dividend on an annualized basis and a yield of 12.14%. NGL Energy Partners’s dividend payout ratio (DPR) is currently -229.41%.

NGL Energy Partners Company Profile

NGL Energy Partners LP, together with its subsidiaries, engages in the crude oil logistics, water solutions, liquids, retail propane, and refined products and renewables businesses. The Crude Oil Logistics segment purchases crude oil from producers and transports it to refineries for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs; and provides storage, terminaling, trucking, marine, and pipeline transportation services.

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Institutional Ownership by Quarter for NGL Energy Partners (NYSE:NGL)

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