NGL Energy Partners (NYSE:NGL) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of NGL Energy Partners (NYSE:NGL) from a hold rating to a buy rating in a research note released on Monday.

NGL Energy Partners Stock Performance

NGL opened at $4.67 on Monday. The firm has a market cap of $615.84 million, a P/E ratio of -1.85 and a beta of 1.71. The business has a 50 day moving average price of $5.08 and a 200 day moving average price of $4.65. NGL Energy Partners has a twelve month low of $3.84 and a twelve month high of $6.20.

NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings results on Monday, February 10th. The oil and gas company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.25). NGL Energy Partners had a negative return on equity of 29.77% and a negative net margin of 3.57%. As a group, analysts anticipate that NGL Energy Partners will post -0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO H Michael Krimbill acquired 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $4.49 per share, for a total transaction of $67,350.00. Following the completion of the acquisition, the chief executive officer now owns 603,000 shares in the company, valued at $2,707,470. This trade represents a 2.55 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Hedge Funds Weigh In On NGL Energy Partners

Several institutional investors have recently modified their holdings of NGL. Bank of America Corp DE lifted its stake in NGL Energy Partners by 27.3% in the fourth quarter. Bank of America Corp DE now owns 6,812,752 shares of the oil and gas company’s stock valued at $33,996,000 after buying an additional 1,461,754 shares in the last quarter. Citigroup Inc. lifted its position in NGL Energy Partners by 15.9% in the 3rd quarter. Citigroup Inc. now owns 2,427,108 shares of the oil and gas company’s stock valued at $10,922,000 after acquiring an additional 333,531 shares in the last quarter. JPMorgan Chase & Co. lifted its position in NGL Energy Partners by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,008,565 shares of the oil and gas company’s stock valued at $22,539,000 after acquiring an additional 154,098 shares in the last quarter. Prescott Group Capital Management L.L.C. lifted its position in NGL Energy Partners by 282.7% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 121,838 shares of the oil and gas company’s stock valued at $608,000 after acquiring an additional 90,000 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of NGL Energy Partners by 0.4% in the fourth quarter. Invesco Ltd. now owns 19,647,133 shares of the oil and gas company’s stock valued at $98,039,000 after purchasing an additional 85,000 shares in the last quarter. Institutional investors own 40.62% of the company’s stock.

About NGL Energy Partners

NGL Energy Partners LP engages in the transportation, storage, blending, and marketing of crude oil, natural gas liquids, refined products / renewables, and water solutions. The company operates in three segments: Water Solutions, Crude Oil Logistics, and Liquids Logistics. The Water Solutions segment transports, treats, recycles, and disposes produced and flowback water generated from oil and natural gas production; aggregates and sells recovered crude oil; disposes solids, such as tank bottoms, and drilling fluid and muds, as well as performs truck and frac tank washouts; and sells produced water for reuse and recycle, and brackish non-potable water.