Insider Buying: NGL Energy Partners (NYSE:NGL) Director Acquires $38,913.00 in Stock

NGL Energy Partners LP (NYSE:NGL) Director James Collingsworth acquired 2,289 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were bought at an average price of $17.00 per share, with a total value of $38,913.00. Following the completion of the transaction, the director directly owned 766,797 shares in the company, valued at approximately $13,035,549. The trade was a 0.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

NGL Energy Partners Price Performance

NYSE:NGL traded up $0.48 during trading hours on Friday, reaching $18.00. 91,313 shares of the company traded hands, compared to its average volume of 296,781. The firm’s 50-day moving average is $16.18 and its 200-day moving average is $14.80. The stock has a market cap of $2.25 billion, a P/E ratio of -6.34 and a beta of 0.63. NGL Energy Partners LP has a 1-year low of $5.32 and a 1-year high of $18.80.

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

Analysts Set New Price Targets

NGL has been the subject of several analyst reports. Weiss Ratings downgraded shares of NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Zacks Research upgraded shares of NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. 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 analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, NGL Energy Partners presently has an average rating of “Buy”.

Institutional Investors Weigh In On NGL Energy Partners

Several hedge funds have recently made changes to their positions in the business. Corient Private Wealth LP acquired a new position in NGL Energy Partners in the second quarter valued at $159,000. CIBC Bancorp USA Inc. acquired a new stake in NGL Energy Partners in the 3rd quarter worth about $70,000. CIBC Private Wealth Group LLC purchased a new stake in NGL Energy Partners in the 3rd quarter valued at about $70,000. LPL Financial LLC acquired a new position in shares of NGL Energy Partners during the 4th quarter valued at about $120,000. Finally, Royal Bank of Canada increased its stake in shares of NGL Energy Partners by 71.2% during the 4th quarter. Royal Bank of Canada now owns 14,454 shares of the oil and gas company’s stock valued at $145,000 after acquiring an additional 6,009 shares during the last quarter. Institutional investors and hedge funds own 40.62% of the company’s stock.

About NGL Energy Partners

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.