ELCO Management Co. LLC Grows Position in NGL Energy Partners LP $NGL

ELCO Management Co. LLC raised its holdings in shares of NGL Energy Partners LP (NYSE:NGL) by 26.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 197,580 shares of the oil and gas company’s stock after acquiring an additional 40,960 shares during the quarter. ELCO Management Co. LLC’s holdings in NGL Energy Partners were worth $844,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in NGL. Cetera Investment Advisers lifted its holdings in NGL Energy Partners by 2.2% during the first quarter. Cetera Investment Advisers now owns 277,869 shares of the oil and gas company’s stock valued at $1,262,000 after purchasing an additional 5,865 shares during the last quarter. ING Groep NV lifted its holdings in NGL Energy Partners by 8.4% during the first quarter. ING Groep NV now owns 1,325,803 shares of the oil and gas company’s stock valued at $6,019,000 after purchasing an additional 103,000 shares during the last quarter. Citigroup Inc. lifted its holdings in NGL Energy Partners by 8.2% during the first quarter. Citigroup Inc. now owns 2,624,890 shares of the oil and gas company’s stock valued at $11,917,000 after purchasing an additional 199,770 shares during the last quarter. NBW Capital LLC lifted its holdings in NGL Energy Partners by 15.8% during the first quarter. NBW Capital LLC now owns 520,259 shares of the oil and gas company’s stock valued at $2,362,000 after purchasing an additional 70,924 shares during the last quarter. Finally, HighTower Advisors LLC lifted its holdings in NGL Energy Partners by 809.1% during the first quarter. HighTower Advisors LLC now owns 275,280 shares of the oil and gas company’s stock valued at $1,250,000 after purchasing an additional 245,000 shares during the last quarter. 40.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NGL Energy Partners

In related news, Director James M. Collingsworth purchased 100,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were purchased at an average cost of $5.80 per share, for a total transaction of $580,000.00. Following the completion of the transaction, the director directly owned 729,500 shares in the company, valued at approximately $4,231,100. This represents a 15.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of NGL Energy Partners in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, NGL Energy Partners has a consensus rating of “Hold”.

NGL Energy Partners Stock Up 1.0%

Shares of NGL opened at $6.42 on Wednesday. The business’s 50-day moving average price is $5.97 and its 200-day moving average price is $4.61. NGL Energy Partners LP has a twelve month low of $2.64 and a twelve month high of $7.15. The stock has a market cap of $820.16 million, a PE ratio of -15.65 and a beta of 0.38.

NGL Energy Partners (NYSE:NGL) last announced its quarterly earnings results on Thursday, August 7th. The oil and gas company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.16). NGL Energy Partners had a net margin of 2.19% and a negative return on equity of 43.75%. The company had revenue of $622.16 million for the quarter, compared to the consensus estimate of $983.50 million. Analysts expect that NGL Energy Partners LP will post -0.22 earnings per share for the current fiscal year.

About NGL Energy Partners

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.