Ngl Energy Partners Lp (NGL) Shares Sold by ELCO Management Co. LLC
ELCO Management Co. LLC cut its stake in shares of Ngl Energy Partners Lp (NYSE:NGL) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 167,293 shares of the oil and gas company’s stock after selling 620 shares during the quarter. Ngl Energy Partners Lp makes up about 1.4% of ELCO Management Co. LLC’s portfolio, making the stock its 25th largest position. ELCO Management Co. LLC owned approximately 0.14% of Ngl Energy Partners Lp worth $2,342,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Penserra Capital Management LLC grew its holdings in Ngl Energy Partners Lp by 410.9% in the second quarter. Penserra Capital Management LLC now owns 10,151 shares of the oil and gas company’s stock worth $141,000 after purchasing an additional 8,164 shares during the period. Oppenheimer & Co. Inc. increased its stake in Ngl Energy Partners Lp by 32.0% in the second quarter. Oppenheimer & Co. Inc. now owns 14,450 shares of the oil and gas company’s stock valued at $202,000 after purchasing an additional 3,500 shares in the last quarter. Proficio Capital Partners LLC increased its stake in Ngl Energy Partners Lp by 68.9% in the second quarter. Proficio Capital Partners LLC now owns 16,990 shares of the oil and gas company’s stock valued at $208,000 after purchasing an additional 6,932 shares in the last quarter. HAP Trading LLC bought a new stake in Ngl Energy Partners Lp in the second quarter valued at $221,000. Finally, US Bancorp DE increased its stake in Ngl Energy Partners Lp by 7.8% in the second quarter. US Bancorp DE now owns 18,669 shares of the oil and gas company’s stock valued at $261,000 after purchasing an additional 1,350 shares in the last quarter. 70.19% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on the stock. FBR & Co dropped their price objective on shares of Ngl Energy Partners Lp from $22.00 to $19.00 and set a “mkt perform” rating on the stock in a report on Thursday, June 8th. Stifel Nicolaus restated a “hold” rating and issued a $13.00 target price (down from $15.00) on shares of Ngl Energy Partners Lp in a research note on Friday, June 16th. Zacks Investment Research upgraded Ngl Energy Partners Lp from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 28th. BidaskClub raised Ngl Energy Partners Lp from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 29th. Finally, Wells Fargo & Company lowered Ngl Energy Partners Lp from an “outperform” rating to a “market perform” rating in a research report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $18.57.
In other Ngl Energy Partners Lp news, CEO H Michael Krimbill bought 75,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were purchased at an average price of $8.86 per share, for a total transaction of $664,500.00. Following the acquisition, the chief executive officer now owns 814,417 shares in the company, valued at approximately $7,215,734.62. The purchase was disclosed in a filing with the SEC, which is available at this link.
Ngl Energy Partners Lp (NYSE NGL) traded up 2.10% on Tuesday, hitting $12.15. 522,309 shares of the company’s stock were exchanged. Ngl Energy Partners Lp has a 52-week low of $8.57 and a 52-week high of $25.80. The stock’s market cap is $1.48 billion. The firm has a 50 day moving average price of $9.88 and a 200-day moving average price of $14.19.
Ngl Energy Partners Lp (NYSE:NGL) last posted its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.21). The firm had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $2.59 billion. Ngl Energy Partners Lp had a negative return on equity of 5.00% and a negative net margin of 0.73%. Analysts predict that Ngl Energy Partners Lp will post ($0.09) earnings per share for the current fiscal year.
Ngl Energy Partners Lp announced that its board has approved a stock repurchase program on Tuesday, August 29th that allows the company to buyback $15.00 million in outstanding shares. This buyback authorization allows the oil and gas company to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
ILLEGAL ACTIVITY WARNING: “Ngl Energy Partners Lp (NGL) Shares Sold by ELCO Management Co. LLC” was first reported by Watch List News and is owned by of Watch List News. If you are reading this report on another publication, it was stolen and reposted in violation of US and international copyright & trademark laws. The original version of this report can be viewed at https://www.watchlistnews.com/ngl-energy-partners-lp-ngl-shares-sold-by-elco-management-co-llc/1605615.html.
About Ngl Energy Partners Lp
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.
Receive News & Ratings for Ngl Energy Partners Lp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ngl Energy Partners Lp and related companies with Analyst Ratings Network's FREE daily email newsletter.