StockNews.com Upgrades NGL Energy Partners (NYSE:NGL) to “Buy”

NGL Energy Partners (NYSE:NGL) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

NGL Energy Partners Trading Up 1.3 %

NGL Energy Partners stock opened at $4.59 on Wednesday. The firm has a 50-day moving average of $5.06 and a 200-day moving average of $4.67. The firm has a market cap of $605.94 million, a P/E ratio of -1.82 and a beta of 1.73. NGL Energy Partners has a 1-year low of $3.84 and a 1-year high of $6.20.

NGL Energy Partners (NYSE:NGL) last issued its earnings results on Monday, February 10th. The oil and gas company reported ($0.12) earnings per share (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%. Research analysts forecast that NGL Energy Partners will post -0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NGL Energy Partners news, CEO H Michael Krimbill bought 15,000 shares of NGL Energy Partners stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $4.49 per share, with a total value of $67,350.00. Following the completion of the acquisition, the chief executive officer now directly owns 603,000 shares in the company, valued at approximately $2,707,470. This trade represents a 2.55 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Trading of NGL Energy Partners

Institutional investors have recently made changes to their positions in the company. Invesco Ltd. lifted its stake in 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 worth $98,039,000 after acquiring an additional 85,000 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of NGL Energy Partners by 27.3% during the 4th quarter. Bank of America Corp DE now owns 6,812,752 shares of the oil and gas company’s stock worth $33,996,000 after buying an additional 1,461,754 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of NGL Energy Partners by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,008,565 shares of the oil and gas company’s stock worth $22,539,000 after buying an additional 154,098 shares during the last quarter. Citigroup Inc. grew its holdings in NGL Energy Partners by 15.9% during 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 purchasing an additional 333,531 shares in the last quarter. Finally, ING Groep NV boosted its holdings in NGL Energy Partners by 5.5% in the third quarter. ING Groep NV now owns 1,561,803 shares of the oil and gas company’s stock worth $7,028,000 after purchasing an additional 80,803 shares during the period. Hedge funds and other 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.