NGL Energy Partners (NYSE:NGL) Director John Raymond Purchases 25,500 Shares of Stock

NGL Energy Partners LP (NYSE:NGL) Director John Raymond purchased 25,500 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were purchased at an average cost of $16.22 per share, with a total value of $413,610.00. Following the completion of the acquisition, the director directly owned 76,626 shares in the company, valued at $1,242,873.72. The trade was a 49.88% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

NGL Energy Partners Trading Up 7.3%

NYSE NGL opened at $17.52 on Wednesday. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -6.17 and a beta of 0.63. The company has a 50 day moving average of $16.12 and a 200-day moving average of $14.73. NGL Energy Partners LP has a 1-year low of $5.01 and a 1-year high of $18.80.

NGL Energy Partners (NYSE:NGL) last announced its earnings results on Tuesday, August 4th. The oil and gas company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.11 by $0.37. The business 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%. On average, analysts forecast that NGL Energy Partners LP will post 1.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NGL. Quartz Partners LLC increased its stake in NGL Energy Partners by 6.8% in the first quarter. Quartz Partners LLC now owns 16,504 shares of the oil and gas company’s stock valued at $203,000 after purchasing an additional 1,052 shares in the last quarter. Carter Financial Group INC. boosted its position in shares of NGL Energy Partners by 3.1% during the second quarter. Carter Financial Group INC. now owns 66,889 shares of the oil and gas company’s stock worth $1,066,000 after purchasing an additional 2,000 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of NGL Energy Partners by 9.4% during the fourth quarter. Wells Fargo & Company MN now owns 34,800 shares of the oil and gas company’s stock worth $348,000 after purchasing an additional 3,000 shares in the last quarter. XTX Topco Ltd grew its holdings in shares of NGL Energy Partners by 9.0% in the 4th quarter. XTX Topco Ltd now owns 37,579 shares of the oil and gas company’s stock valued at $376,000 after buying an additional 3,103 shares during the period. Finally, Massar Capital Management LP grew its holdings in shares of NGL Energy Partners by 23.2% in the 2nd 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. 40.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.