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

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

NGL Energy Partners Stock Down 1.3 %

Shares of NGL stock opened at $4.62 on Wednesday. NGL Energy Partners has a 52-week low of $3.84 and a 52-week high of $6.20. The business has a 50-day simple moving average of $5.07 and a 200-day simple moving average of $4.67. The stock has a market cap of $609.90 million, a PE ratio of -1.83 and a beta of 1.73.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings data on Monday, February 10th. The oil and gas company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.25). NGL Energy Partners had a negative return on equity of 29.77% and a negative net margin of 3.57%. Sell-side analysts anticipate that NGL Energy Partners will post -0.22 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO H Michael Krimbill purchased 15,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $4.49 per share, for a total transaction of $67,350.00. Following the completion of the transaction, the chief executive officer now directly owns 603,000 shares of the company’s stock, valued at approximately $2,707,470. This trade represents a 2.55 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NGL. Wealth Enhancement Advisory Services LLC acquired a new position in NGL Energy Partners in the third quarter valued at approximately $46,000. ING Groep NV lifted its holdings in NGL Energy Partners by 5.5% in the third quarter. ING Groep NV now owns 1,561,803 shares of the oil and gas company’s stock valued at $7,028,000 after acquiring an additional 80,803 shares during the last quarter. Citigroup Inc. lifted its holdings in NGL Energy Partners by 15.9% in the third quarter. Citigroup Inc. now owns 2,427,108 shares of the oil and gas company’s stock valued at $10,922,000 after acquiring an additional 333,531 shares during the last quarter. XTX Topco Ltd acquired a new position in NGL Energy Partners in the third quarter valued at approximately $46,000. Finally, Tidal Investments LLC lifted its holdings in NGL Energy Partners by 33.3% in the third quarter. Tidal Investments LLC now owns 35,527 shares of the oil and gas company’s stock valued at $160,000 after acquiring an additional 8,877 shares during the last quarter. 40.62% of the stock is currently owned by institutional investors and hedge funds.

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.