JPMorgan Chase & Co. Sells 694,344 Shares of NGL Energy Partners LP $NGL

JPMorgan Chase & Co. lowered its stake in NGL Energy Partners LP (NYSE:NGL) by 18.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,040,912 shares of the oil and gas company’s stock after selling 694,344 shares during the quarter. JPMorgan Chase & Co.’s holdings in NGL Energy Partners were worth $18,245,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NGL. Bank of America Corp DE raised its stake in NGL Energy Partners by 18.7% during the third quarter. Bank of America Corp DE now owns 11,728,872 shares of the oil and gas company’s stock valued at $70,373,000 after buying an additional 1,843,849 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of NGL Energy Partners by 3.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,248,614 shares of the oil and gas company’s stock worth $23,829,000 after acquiring an additional 165,249 shares during the last quarter. ING Groep NV grew its stake in shares of NGL Energy Partners by 229.7% in the third quarter. ING Groep NV now owns 4,931,803 shares of the oil and gas company’s stock worth $29,591,000 after acquiring an additional 3,436,000 shares during the last quarter. Angelo Gordon & CO. L.P. increased its holdings in shares of NGL Energy Partners by 291.7% during the third quarter. Angelo Gordon & CO. L.P. now owns 2,504,447 shares of the oil and gas company’s stock valued at $15,027,000 after acquiring an additional 1,865,003 shares in the last quarter. Finally, Nomura Holdings Inc. increased its holdings in shares of NGL Energy Partners by 58.9% during the second quarter. Nomura Holdings Inc. now owns 455,183 shares of the oil and gas company’s stock valued at $1,944,000 after acquiring an additional 168,772 shares in the last quarter. Institutional investors own 40.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Zacks Research cut shares of NGL Energy Partners from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 12th. Weiss Ratings restated a “hold (c)” rating on shares of NGL Energy Partners in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

NGL Energy Partners Trading Down 4.6%

NGL stock opened at $12.96 on Thursday. The stock has a market capitalization of $1.60 billion, a PE ratio of 324.13 and a beta of 0.34. NGL Energy Partners LP has a 12-month low of $2.64 and a 12-month high of $13.92. The stock’s 50 day simple moving average is $11.59 and its 200 day simple moving average is $9.36.

NGL Energy Partners (NYSE:NGL) last issued its earnings results on Tuesday, February 3rd. The oil and gas company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.06). The business had revenue of $909.82 million for the quarter, compared to analysts’ expectations of $700.76 million. NGL Energy Partners had a net margin of 5.01% and a negative return on equity of 66.52%. On average, research analysts predict that NGL Energy Partners LP will post -0.22 earnings per share for the current year.

NGL Energy Partners 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.