Insider Buying: NGL Energy Partners (NYSE:NGL) Director Buys $413,610.00 in Stock

NGL Energy Partners LP (NYSE:NGL) Director John Raymond purchased 25,500 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was bought at an average price of $16.22 per share, for a total transaction of $413,610.00. Following the transaction, the director directly owned 76,626 shares in the company, valued at $1,242,873.72. This trade represents a 49.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

NGL Energy Partners Stock Up 1.9%

NGL opened at $17.52 on Friday. NGL Energy Partners LP has a 52 week low of $5.08 and a 52 week high of $18.80. The business has a 50 day moving average price of $16.18 and a two-hundred day moving average price of $14.80. The company has a market cap of $2.19 billion, a PE ratio of -6.17 and a beta of 0.63.

NGL Energy Partners (NYSE:NGL) last announced its earnings results on Tuesday, August 4th. The oil and gas company reported $0.48 earnings per share 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 the consensus estimate of $346.13 million. NGL Energy Partners had a negative return on equity of 39.51% and a negative net margin of 3.76%. As a group, sell-side analysts expect that NGL Energy Partners LP will post 1.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NGL. Weiss Ratings cut shares of NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. 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, Zacks Research raised shares of NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat, NGL Energy Partners has an average rating of “Buy”.

Institutional Trading of NGL Energy Partners

Hedge funds have recently modified their holdings of the business. CIBC Bancorp USA Inc. purchased a new stake in shares of NGL Energy Partners in the third quarter valued at approximately $70,000. CIBC Private Wealth Group LLC purchased a new position in NGL Energy Partners in the third quarter worth $70,000. Massar Capital Management LP raised its position in 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 worth $120,000 after acquiring an additional 5,295 shares in the last quarter. LPL Financial LLC acquired a new stake in NGL Energy Partners in the fourth quarter valued at $120,000. Finally, State of Wyoming lifted its holdings in NGL Energy Partners by 184.0% in the second quarter. State of Wyoming now owns 32,202 shares of the oil and gas company’s stock valued at $138,000 after acquiring an additional 20,864 shares during the period. 40.62% of the stock is owned by institutional investors and hedge funds.

About NGL Energy Partners

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.