NGL Energy Partners (NYSE:NGL) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of NGL Energy Partners (NYSE:NGL) from a hold rating to a buy rating in a report published on Monday morning.

NGL Energy Partners Trading Down 3.4 %

Shares of NGL stock opened at $4.67 on Monday. The firm has a 50-day moving average price of $5.08 and a 200 day moving average price of $4.65. The company has a market capitalization of $615.84 million, a price-to-earnings ratio of -1.85 and a beta of 1.71. NGL Energy Partners has a twelve month low of $3.84 and a twelve month high of $6.20.

NGL Energy Partners (NYSE:NGL) last released its earnings results 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 net margin of 3.57% and a negative return on equity of 29.77%. As a group, research analysts predict that NGL Energy Partners will post -0.22 earnings per share for the current year.

Insider Activity at NGL Energy Partners

In related news, CEO H Michael Krimbill purchased 15,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was acquired at an average price of $4.49 per share, with a total value of $67,350.00. Following the completion of the transaction, the chief executive officer now owns 603,000 shares of the company’s stock, valued at $2,707,470. This represents a 2.55 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On NGL Energy Partners

Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in shares of NGL Energy Partners by 27.3% during the fourth quarter. Bank of America Corp DE now owns 6,812,752 shares of the oil and gas company’s stock valued at $33,996,000 after acquiring an additional 1,461,754 shares during the period. Citigroup Inc. boosted its stake in NGL Energy Partners by 15.9% during the 3rd quarter. Citigroup Inc. now owns 2,427,108 shares of the oil and gas company’s stock valued at $10,922,000 after purchasing an additional 333,531 shares during the period. JPMorgan Chase & Co. boosted its stake in NGL Energy Partners by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,008,565 shares of the oil and gas company’s stock valued at $22,539,000 after purchasing an additional 154,098 shares during the period. Prescott Group Capital Management L.L.C. boosted its stake in NGL Energy Partners by 282.7% during the 4th quarter. Prescott Group Capital Management L.L.C. now owns 121,838 shares of the oil and gas company’s stock valued at $608,000 after purchasing an additional 90,000 shares during the period. Finally, Invesco Ltd. boosted its stake in NGL Energy Partners by 0.4% during the 4th quarter. Invesco Ltd. now owns 19,647,133 shares of the oil and gas company’s stock valued at $98,039,000 after purchasing an additional 85,000 shares during the period. Institutional investors and hedge funds own 40.62% of the company’s stock.

NGL Energy Partners Company Profile

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.