Insider Buying: NGL Energy Partners (NYSE:NGL) Director Buys $18,297.50 in Stock

NGL Energy Partners LP (NYSE:NGL) Director John Raymond bought 1,126 shares of the stock in a transaction on Friday, August 21st. The stock was bought at an average price of $16.25 per share, for a total transaction of $18,297.50. Following the completion of the purchase, the director directly owned 51,126 shares in the company, valued at approximately $830,797.50. The trade was a 2.25% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

NGL Energy Partners Price Performance

NGL Energy Partners stock opened at $17.52 on Friday. NGL Energy Partners LP has a 12 month low of $5.08 and a 12 month high of $18.80. The business has a 50 day simple moving average of $16.18 and a 200-day simple moving average of $14.80. The stock has a market capitalization of $2.19 billion, a PE ratio of -6.17 and a beta of 0.63.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.37. The firm had revenue of $989.99 million for 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%. As a group, equities research analysts anticipate that NGL Energy Partners LP will post 1.38 EPS for the current year.

Wall Street Analyst Weigh In

NGL has been the subject of several analyst reports. Wall Street Zen raised shares of NGL Energy Partners from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Zacks Research raised NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Finally, Weiss Ratings downgraded NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, NGL Energy Partners presently has an average rating of “Buy”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. acquired a new stake in shares of NGL Energy Partners during the 3rd quarter valued at approximately $70,000. CIBC Private Wealth Group LLC purchased a new position in NGL Energy Partners in the 3rd quarter valued at approximately $70,000. Massar Capital Management LP raised its holdings in NGL Energy Partners by 23.2% during the second quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company’s stock worth $120,000 after purchasing an additional 5,295 shares during the last quarter. LPL Financial LLC acquired a new position in NGL Energy Partners during the fourth quarter worth $120,000. Finally, State of Wyoming boosted its position in NGL Energy Partners by 184.0% during the second quarter. State of Wyoming now owns 32,202 shares of the oil and gas company’s stock worth $138,000 after purchasing an additional 20,864 shares in 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 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.