Cresset Asset Management LLC Makes New Investment in NGL Energy Partners LP (NYSE:NGL)

Cresset Asset Management LLC bought a new position in shares of NGL Energy Partners LP (NYSE:NGL) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 21,905 shares of the oil and gas company’s stock, valued at approximately $109,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bank of America Corp DE increased its position in 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 purchasing an additional 1,461,754 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of NGL Energy Partners in the 4th quarter worth approximately $61,000. Jane Street Group LLC acquired a new stake in shares of NGL Energy Partners in the 4th quarter worth approximately $182,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of NGL Energy Partners in the 4th quarter worth approximately $79,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of NGL Energy Partners in the 4th quarter worth approximately $59,000. Institutional investors and hedge funds own 40.62% of the company’s stock.

Wall Street Analysts Forecast Growth

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

NGL Energy Partners Price Performance

NGL opened at $3.30 on Monday. The stock has a market cap of $435.64 million, a P/E ratio of -1.31 and a beta of 0.26. The stock’s 50 day simple moving average is $3.66 and its 200 day simple moving average is $4.42. NGL Energy Partners LP has a 1-year low of $2.64 and a 1-year high of $5.97.

NGL Energy Partners Company 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.