H Michael Krimbill Sells 300,000 Shares of NGL Energy Partners (NYSE:NGL) Stock

NGL Energy Partners LP (NYSE:NGL) CEO H Michael Krimbill sold 300,000 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $17.00, for a total transaction of $5,100,000.00. Following the completion of the transaction, the chief executive officer owned 3,378,615 shares of the company’s stock, valued at approximately $57,436,455. The trade was a 8.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

NGL Energy Partners Stock Performance

Shares of NGL opened at $17.52 on Friday. The stock has a market cap of $2.19 billion, a PE ratio of -6.17 and a beta of 0.63. NGL Energy Partners LP has a fifty-two week low of $5.08 and a fifty-two week high of $18.80. The firm’s 50-day simple moving average is $16.18 and its two-hundred day simple moving average is $14.80.

NGL Energy Partners (NYSE:NGL) last released its earnings results on Tuesday, August 4th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.37. The firm had revenue of $989.99 million during the quarter, compared to analyst estimates of $346.13 million. NGL Energy Partners had a negative net margin of 3.76% and a negative return on equity of 39.51%. Equities research analysts predict that NGL Energy Partners LP will post 1.38 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NGL. Zacks Research upgraded NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Weiss Ratings cut shares of NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Finally, Wall Street Zen raised shares of NGL Energy Partners from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy”.

Institutional Trading of NGL Energy Partners

A number of large investors have recently made changes to their positions in the stock. Quartz Partners LLC raised its holdings in shares of NGL Energy Partners by 6.8% during the first quarter. Quartz Partners LLC now owns 16,504 shares of the oil and gas company’s stock valued at $203,000 after purchasing an additional 1,052 shares during the last quarter. Carter Financial Group INC. grew its position in NGL Energy Partners by 3.1% in the 2nd quarter. Carter Financial Group INC. now owns 66,889 shares of the oil and gas company’s stock worth $1,066,000 after purchasing an additional 2,000 shares during the period. Wells Fargo & Company MN raised its stake in NGL Energy Partners by 9.4% during the 4th quarter. Wells Fargo & Company MN now owns 34,800 shares of the oil and gas company’s stock valued at $348,000 after buying an additional 3,000 shares during the last quarter. XTX Topco Ltd raised its stake in NGL Energy Partners by 9.0% during the 4th quarter. XTX Topco Ltd now owns 37,579 shares of the oil and gas company’s stock valued at $376,000 after buying an additional 3,103 shares during the last quarter. Finally, Massar Capital Management LP lifted its holdings in shares of NGL Energy Partners by 23.2% during the 2nd quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company’s stock valued at $120,000 after buying an additional 5,295 shares during the period. 40.62% of the stock is currently owned by institutional investors.

NGL Energy Partners Company Profile

NGL Energy Partners LP is a publicly traded master limited partnership that provides midstream infrastructure and marketing services for the energy industry. The company focuses on the transportation, storage, fractionation and marketing of natural gas liquids (NGLs) and refined petroleum products. Through its integrated operations, NGL Energy Partners serves producers, processors, refiners and industrial customers across key U.S. energy-producing regions.

The partnership’s asset base includes pipelines, storage terminals, fractionation plants, and distribution facilities.