Citigroup Inc. Raises Stock Position in NGL Energy Partners LP (NYSE:NGL)

Citigroup Inc. raised its stake in shares of NGL Energy Partners LP (NYSE:NGL) by 8.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,624,890 shares of the oil and gas company’s stock after acquiring an additional 199,770 shares during the quarter. Citigroup Inc.’s holdings in NGL Energy Partners were worth $11,917,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in shares of NGL Energy Partners during the 4th quarter worth about $55,000. XTX Topco Ltd raised its holdings in shares of NGL Energy Partners by 174.6% during the fourth quarter. XTX Topco Ltd now owns 27,933 shares of the oil and gas company’s stock valued at $139,000 after acquiring an additional 17,759 shares during the last quarter. Two Sigma Securities LLC purchased a new position in shares of NGL Energy Partners in the fourth quarter valued at approximately $59,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of NGL Energy Partners in the fourth quarter worth approximately $79,000. Finally, Jane Street Group LLC acquired a new stake in shares of NGL Energy Partners in the fourth quarter worth approximately $182,000. Institutional investors and hedge funds own 40.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded NGL Energy Partners from a “buy” rating to a “hold” rating in a research note on Monday, April 21st.

NGL Energy Partners Trading Up 1.5%

NYSE:NGL opened at $4.94 on Friday. The company has a market cap of $630.94 million, a P/E ratio of -12.04 and a beta of 0.39. NGL Energy Partners LP has a twelve month low of $2.64 and a twelve month high of $5.73. The company’s 50-day moving average price is $4.33 and its 200-day moving average price is $4.14.

NGL Energy Partners (NYSE:NGL) last released its earnings results on Thursday, August 7th. The oil and gas company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.16). The business had revenue of $622.16 million during the quarter, compared to analysts’ expectations of $983.50 million. NGL Energy Partners had a negative return on equity of 43.75% and a net margin of 2.19%. On average, analysts expect that NGL Energy Partners LP will post -0.22 earnings per share for the current year.

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.