StockNews.com Upgrades NGL Energy Partners (NYSE:NGL) to Buy

NGL Energy Partners (NYSE:NGL) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

NGL Energy Partners Trading Down 1.8 %

NGL opened at $4.66 on Wednesday. The business’s 50 day moving average is $5.08 and its 200-day moving average is $4.67. The stock has a market cap of $614.52 million, a PE ratio of -1.85 and a beta of 1.73. 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 posted its quarterly earnings data on Monday, February 10th. The oil and gas company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates 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, analysts forecast that NGL Energy Partners will post -0.22 EPS for the current year.

Insider Activity at NGL Energy Partners

In related news, CEO H Michael Krimbill acquired 15,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average price of $4.49 per share, for a total transaction of $67,350.00. Following the completion of the purchase, the chief executive officer now directly owns 603,000 shares of the company’s stock, valued at $2,707,470. The trade was a 2.55 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NGL. Bank of America Corp DE grew its position in NGL Energy Partners by 27.3% in the fourth quarter. Bank of America Corp DE now owns 6,812,752 shares of the oil and gas company’s stock worth $33,996,000 after buying an additional 1,461,754 shares during the last quarter. Citigroup Inc. grew its position 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 worth $10,922,000 after buying an additional 333,531 shares during the last quarter. JPMorgan Chase & Co. grew its position in NGL Energy Partners by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 5,008,565 shares of the oil and gas company’s stock worth $22,539,000 after buying an additional 154,098 shares during the last quarter. Prescott Group Capital Management L.L.C. grew its position in NGL Energy Partners by 282.7% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 121,838 shares of the oil and gas company’s stock worth $608,000 after buying an additional 90,000 shares during the last quarter. Finally, Invesco Ltd. grew its position in NGL Energy Partners by 0.4% in the fourth quarter. Invesco Ltd. now owns 19,647,133 shares of the oil and gas company’s stock worth $98,039,000 after buying an additional 85,000 shares during the last quarter. 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.