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

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

NGL Energy Partners Stock Performance

Shares of NGL opened at $4.71 on Monday. The stock’s 50-day simple moving average is $5.08 and its 200 day simple moving average is $4.66. The stock has a market capitalization of $621.12 million, a price-to-earnings ratio of -1.87 and a beta of 1.71. NGL Energy Partners has a 52-week low of $3.84 and a 52-week high of $6.20.

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

Insider Buying and Selling at NGL Energy Partners

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

Hedge Funds Weigh In On NGL Energy Partners

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position 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 valued at $22,539,000 after purchasing an additional 154,098 shares during the last quarter. Citigroup Inc. increased its position in shares of 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 during the last quarter. Van ECK Associates Corp increased its position in shares of NGL Energy Partners by 42.4% during the 4th 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 during the last quarter. International Assets Investment Management LLC increased its position in shares of NGL Energy Partners by 350.0% during the 3rd quarter. International Assets Investment Management LLC now owns 12,600 shares of the oil and gas company’s stock valued at $57,000 after purchasing an additional 9,800 shares during the last quarter. Finally, Tidal Investments LLC increased its position in shares of NGL Energy Partners by 33.3% during the 3rd quarter. Tidal Investments LLC now owns 35,527 shares of the oil and gas company’s stock valued at $160,000 after purchasing an additional 8,877 shares during the last quarter. 40.62% of the stock is currently owned by institutional investors.

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.