James Collingsworth Acquires 10,808 Shares of NGL Energy Partners (NYSE:NGL) Stock

NGL Energy Partners LP (NYSE:NGL) Director James Collingsworth bought 10,808 shares of the stock in a transaction on Tuesday, August 25th. The shares were acquired at an average cost of $16.82 per share, with a total value of $181,790.56. Following the purchase, the director owned 764,308 shares of the company’s stock, valued at approximately $12,855,660.56. This represents a 1.43% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

NGL Energy Partners Trading Up 1.9%

NGL stock opened at $17.52 on Friday. The firm has a 50-day moving average price of $16.18 and a 200-day moving average price of $14.80. NGL Energy Partners LP has a 12 month low of $5.08 and a 12 month high of $18.80. The stock has a market capitalization of $2.19 billion, a P/E ratio of -6.17 and a beta of 0.63.

NGL Energy Partners (NYSE:NGL) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.37. The company had revenue of $989.99 million for 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%. As a group, equities analysts predict that NGL Energy Partners LP will post 1.38 EPS for the current fiscal year.

Institutional Trading of NGL Energy Partners

A number of institutional investors and hedge funds have recently bought and sold shares of NGL. CIBC Bancorp USA Inc. bought a new position in NGL Energy Partners during the 3rd quarter worth $70,000. CIBC Private Wealth Group LLC bought a new stake in shares of NGL Energy Partners in the 3rd quarter valued at about $70,000. Massar Capital Management LP increased its stake in shares of NGL Energy Partners by 23.2% in the second quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company’s stock valued at $120,000 after buying an additional 5,295 shares during the period. LPL Financial LLC acquired a new stake in shares of NGL Energy Partners in the fourth quarter valued at about $120,000. Finally, State of Wyoming raised its position in shares of NGL Energy Partners by 184.0% during the second quarter. State of Wyoming now owns 32,202 shares of the oil and gas company’s stock worth $138,000 after acquiring an additional 20,864 shares during the last quarter. 40.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NGL. Wall Street Zen upgraded NGL Energy Partners from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Zacks Research raised NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings cut NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently 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.