Raymond James Financial Inc. Takes Position in NGL Energy Partners LP (NYSE:NGL)

Raymond James Financial Inc. purchased a new stake in shares of NGL Energy Partners LP (NYSE:NGL) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,941 shares of the oil and gas company’s stock, valued at approximately $55,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NGL. one8zero8 LLC bought a new position in shares of NGL Energy Partners during the fourth quarter valued at $58,000. Van ECK Associates Corp lifted its holdings in shares of NGL Energy Partners by 42.4% during the fourth quarter. Van ECK Associates Corp now owns 31,672 shares of the oil and gas company’s stock valued at $158,000 after purchasing an additional 9,426 shares in the last quarter. Tidal Investments LLC lifted its holdings in NGL Energy Partners by 33.3% in the third quarter. Tidal Investments LLC now owns 35,527 shares of the oil and gas company’s stock valued at $160,000 after acquiring an additional 8,877 shares during the period. Prescott Group Capital Management L.L.C. lifted its holdings in NGL Energy Partners by 282.7% in the fourth 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 during the period. Finally, ELCO Management Co. LLC lifted its holdings in NGL Energy Partners by 21.4% in the fourth quarter. ELCO Management Co. LLC now owns 157,120 shares of the oil and gas company’s stock valued at $784,000 after acquiring an additional 27,700 shares during the period. 40.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded NGL Energy Partners from a “buy” rating to a “hold” rating in a report on Monday, April 21st.

NGL Energy Partners Stock Up 0.9%

Shares of NGL opened at $3.41 on Thursday. The business has a 50-day simple moving average of $3.71 and a two-hundred day simple moving average of $4.43. The stock has a market cap of $450.16 million, a price-to-earnings ratio of -1.35 and a beta of 0.26. NGL Energy Partners LP has a 52 week low of $2.64 and a 52 week high of $5.97.

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 net margin of 3.57% and a negative return on equity of 29.77%. On average, equities analysts anticipate that NGL Energy Partners LP will post -0.22 earnings per share for the current fiscal year.

NGL Energy Partners Profile

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.