NGL Energy Partners (NYSE:NGL) Shares Down 5.6% – What’s Next?

NGL Energy Partners LP (NYSE:NGL) shares were down 5.6% on Tuesday . The stock traded as low as $17.94 and last traded at $17.91. 82,863 shares traded hands during trading, a decline of 72% from the average daily volume of 296,887 shares. The stock had previously closed at $18.97.

Analyst Upgrades and Downgrades

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

NGL Energy Partners Stock Performance

The business has a 50 day simple moving average of $16.28 and a two-hundred day simple moving average of $14.89. The firm has a market capitalization of $2.25 billion, a P/E ratio of -6.35 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 for the quarter, beating analysts’ consensus estimates 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 net margin of 3.76% and a negative return on equity of 39.51%. On average, equities analysts anticipate that NGL Energy Partners LP will post 1.38 earnings per share for the current fiscal year.

Insider Transactions at NGL Energy Partners

In other NGL Energy Partners news, CEO H Michael Krimbill sold 300,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $17.00, for a total value of $5,100,000.00. Following the completion of the sale, the chief executive officer owned 3,378,615 shares of the company’s stock, valued at $57,436,455. This represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James M. Collingsworth purchased 10,808 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were acquired at an average cost of $16.82 per share, for a total transaction of $181,790.56. Following the completion of the purchase, 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 the last three months, insiders bought 339,923 shares of company stock worth $5,750,003. 7.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NGL Energy Partners

A number of large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its stake in NGL Energy Partners by 3.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,248,614 shares of the oil and gas company’s stock worth $23,829,000 after purchasing an additional 165,249 shares during the last quarter. Jump Financial LLC lifted its stake in shares of NGL Energy Partners by 223.4% in the 2nd quarter. Jump Financial LLC now owns 224,779 shares of the oil and gas company’s stock valued at $960,000 after acquiring an additional 155,279 shares during the last quarter. Angelo Gordon & CO. L.P. purchased a new stake in NGL Energy Partners during the 2nd quarter valued at about $2,730,000. Bank of America Corp DE grew its position in NGL Energy Partners by 8.8% during the 2nd quarter. Bank of America Corp DE now owns 9,885,023 shares of the oil and gas company’s stock worth $42,209,000 after acquiring an additional 797,895 shares during the last quarter. Finally, Massar Capital Management LP increased its stake in 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. Hedge funds and other institutional investors own 40.62% of the company’s stock.

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.