NGL Energy Partners (NYSE:NGL) Releases Quarterly Earnings Results

NGL Energy Partners (NYSE:NGL) issued its quarterly earnings results on Tuesday. The oil and gas company reported $0.02 EPS for the quarter, Zacks reports. NGL Energy Partners had a net margin of 2.19% and a negative return on equity of 43.75%.

NGL Energy Partners Stock Up 0.2%

Shares of NGL stock opened at $6.79 on Wednesday. The business’s fifty day moving average is $6.13 and its 200 day moving average is $4.74. The stock has a market cap of $867.57 million, a price-to-earnings ratio of -16.55 and a beta of 0.25. NGL Energy Partners has a twelve month low of $2.64 and a twelve month high of $7.15.

Insiders Place Their Bets

In related news, Director James M. Collingsworth acquired 100,000 shares of NGL Energy Partners stock in a transaction that occurred on Friday, September 12th. The stock was bought at an average price of $5.80 per share, with a total value of $580,000.00. Following the transaction, the director directly owned 729,500 shares in the company, valued at approximately $4,231,100. This represents a 15.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Hedge Funds Weigh In On NGL Energy Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NGL. State of Wyoming boosted its stake in NGL Energy Partners by 184.0% during the 2nd quarter. State of Wyoming now owns 32,202 shares of the oil and gas company’s stock valued at $138,000 after purchasing an additional 20,864 shares during the last quarter. Nomura Holdings Inc. boosted its position in shares of NGL Energy Partners by 58.9% during the second quarter. Nomura Holdings Inc. now owns 455,183 shares of the oil and gas company’s stock valued at $1,944,000 after buying an additional 168,772 shares during the last quarter. Massar Capital Management LP increased its holdings in NGL Energy Partners by 23.2% in the 2nd quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company’s stock worth $120,000 after buying an additional 5,295 shares in the last quarter. Bank of America Corp DE raised its position in NGL Energy Partners by 8.8% in the 2nd quarter. Bank of America Corp DE now owns 9,885,023 shares of the oil and gas company’s stock worth $42,209,000 after buying an additional 797,895 shares during the last quarter. Finally, Angelo Gordon & CO. L.P. purchased a new position in NGL Energy Partners in the 2nd quarter worth about $2,730,000. 40.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NGL Energy Partners in a research note on Friday, October 31st. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

About NGL Energy Partners

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.