NGL Energy Partners (NYSE:NGL) Hits New 1-Year High on Insider Buying Activity

NGL Energy Partners LP (NYSE:NGL)’s share price reached a new 52-week high during trading on Monday after an insider bought additional shares in the company. The stock traded as high as $18.89 and last traded at $18.61, with a volume of 100848 shares trading hands. The stock had previously closed at $18.02.

Specifically, Director James M. Collingsworth acquired 2,289 shares of NGL Energy Partners stock in a transaction dated Thursday, August 27th. The shares were purchased at an average price of $17.00 per share, for a total transaction of $38,913.00. Following the completion of the transaction, the director directly owned 766,797 shares in the company, valued at approximately $13,035,549. This represents a 0.30% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James M. Collingsworth bought 10,808 shares of the stock in a transaction dated Tuesday, August 25th. The stock was bought at an average cost of $16.82 per share, for a total transaction of $181,790.56. Following the acquisition, the director directly owned 764,308 shares of the company’s stock, valued at approximately $12,855,660.56. This represents a 1.43% increase in their position. The disclosure for this purchase is available in the SEC filing. In related news, Director John T. Raymond bought 300,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was purchased at an average price of $16.98 per share, for a total transaction of $5,094,000.00. Following the completion of the transaction, the director owned 376,626 shares in the company, valued at $6,395,109.48. The trade was a 391.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Analysts Set New Price Targets

NGL has been the topic of a number of research reports. Weiss Ratings downgraded shares of NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Zacks Research upgraded NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen raised NGL Energy Partners from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

NGL Energy Partners Trading Up 3.2%

The business’s 50 day simple moving average is $16.23 and its 200 day simple moving average is $14.84. The firm has a market capitalization of $2.32 billion, a PE ratio of -6.57 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 (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.37. NGL Energy Partners had a negative net margin of 3.76% and a negative return on equity of 39.51%. The firm had revenue of $989.99 million for the quarter, compared to analysts’ expectations of $346.13 million. Analysts forecast that NGL Energy Partners LP will post 1.38 earnings per share for the current year.

Institutional Investors Weigh In On NGL Energy Partners

Several large investors have recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. purchased a new stake in NGL Energy Partners during the third quarter valued at approximately $70,000. CIBC Private Wealth Group LLC purchased a new position in shares of NGL Energy Partners in the 3rd quarter worth approximately $70,000. Massar Capital Management LP boosted 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 worth $120,000 after purchasing an additional 5,295 shares during the period. LPL Financial LLC bought a new position in shares of NGL Energy Partners during the 4th quarter valued at approximately $120,000. Finally, State of Wyoming increased its position in shares of NGL Energy Partners by 184.0% during the 2nd quarter. State of Wyoming now owns 32,202 shares of the oil and gas company’s stock valued at $138,000 after purchasing an additional 20,864 shares during the last quarter. 40.62% of the stock is owned by institutional investors.

NGL Energy Partners Company 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.