NGL Energy Partners LP $NGL Shares Acquired by ING Groep NV

ING Groep NV lifted its position in shares of NGL Energy Partners LP (NYSE:NGL) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,174,803 shares of the oil and gas company’s stock after purchasing an additional 243,000 shares during the period. ING Groep NV owned about 4.18% of NGL Energy Partners worth $51,748,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NGL. Angelo Gordon & CO. L.P. grew 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 worth $15,027,000 after buying an additional 1,865,003 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of 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 worth $70,373,000 after buying an additional 1,843,849 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of NGL Energy Partners by 9.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 7,522,370 shares of the oil and gas company’s stock worth $75,224,000 after buying an additional 651,779 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of NGL Energy Partners by 2,963.5% during the third quarter. BNP Paribas Financial Markets now owns 292,261 shares of the oil and gas company’s stock worth $1,754,000 after buying an additional 282,721 shares during the last quarter. Finally, Nomura Holdings Inc. grew 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 worth $1,944,000 after buying an additional 168,772 shares during the last quarter. Hedge funds and other institutional investors own 40.62% of the company’s stock.

NGL Energy Partners Trading Down 4.2%

Shares of NGL Energy Partners stock opened at $15.32 on Friday. NGL Energy Partners LP has a 12-month low of $3.64 and a 12-month high of $18.80. The stock has a market cap of $1.91 billion, a PE ratio of -4.67 and a beta of 0.58. The company has a 50-day moving average of $15.14 and a two-hundred day moving average of $12.28.

NGL Energy Partners (NYSE:NGL) last issued its earnings results on Thursday, May 28th. The oil and gas company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.89). NGL Energy Partners had a negative net margin of 4.51% and a negative return on equity of 47.64%. The company had revenue of $949.51 million during the quarter, compared to analysts’ expectations of $941.52 million. On average, sell-side analysts forecast that NGL Energy Partners LP will post 0.82 EPS for the current fiscal year.

NGL Energy Partners declared that its Board of Directors has initiated a share buyback plan on Thursday, April 9th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NGL shares. Zacks Research raised NGL Energy Partners from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. Weiss Ratings lowered NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

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.