Cetera Advisor Networks LLC cut its stake in Ngl Energy Partners Lp (NYSE:NGL) by 18.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,999 shares of the oil and gas company’s stock after selling 4,786 shares during the period. Cetera Advisor Networks LLC’s holdings in Ngl Energy Partners were worth $242,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NGL. BNP Paribas Arbitrage SA grew its holdings in Ngl Energy Partners by 399.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,983 shares of the oil and gas company’s stock worth $104,000 after acquiring an additional 7,183 shares in the last quarter. Commonwealth Equity Services Inc bought a new position in Ngl Energy Partners during the 3rd quarter worth about $117,000. Penserra Capital Management LLC grew its holdings in Ngl Energy Partners by 410.9% during the 2nd quarter. Penserra Capital Management LLC now owns 10,151 shares of the oil and gas company’s stock worth $141,000 after acquiring an additional 8,164 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in Ngl Energy Partners by 32.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,450 shares of the oil and gas company’s stock worth $202,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in Ngl Energy Partners by 68.9% during the 2nd quarter. Proficio Capital Partners LLC now owns 16,990 shares of the oil and gas company’s stock worth $208,000 after acquiring an additional 6,932 shares in the last quarter. Hedge funds and other institutional investors own 63.84% of the company’s stock.

Several research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Ngl Energy Partners from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $16.00 target price (up from $14.00) on shares of Ngl Energy Partners in a report on Tuesday, November 7th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $10.00 target price on shares of Ngl Energy Partners in a report on Sunday, October 29th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $17.00.

In other news, CFO Robert W. Karlovich III purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was acquired at an average cost of $11.66 per share, with a total value of $116,600.00. Following the completion of the transaction, the chief financial officer now owns 99,320 shares in the company, valued at approximately $1,158,071.20. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shares of Ngl Energy Partners Lp (NYSE:NGL) traded down $0.10 during trading on Friday, reaching $13.75. 14,160,000 shares of the company’s stock traded hands, compared to its average volume of 1,089,678. The company has a current ratio of 1.56, a quick ratio of 0.99 and a debt-to-equity ratio of 1.69. Ngl Energy Partners Lp has a one year low of $8.57 and a one year high of $25.80.

Ngl Energy Partners announced that its board has approved a stock buyback plan on Tuesday, August 29th that permits the company to buyback $15.00 million in shares. This buyback authorization permits the oil and gas company to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

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Ngl Energy Partners Company Profile

NGL Energy Partners LP owns and operates a vertically integrated energy business. The Company’s segments are crude oil logistics, water solutions, liquids, retail propane, refined products and renewables, and corporate and other. Its crude oil logistics segment includes owned and leased crude oil storage terminals, and owned and leased pipeline injection stations.

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Institutional Ownership by Quarter for Ngl Energy Partners (NYSE:NGL)

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