Bank of America Corp DE boosted its stake in NGL Energy Partners LP (NYSE:NGL - Free Report) by 27.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,812,752 shares of the oil and gas company's stock after acquiring an additional 1,461,754 shares during the period. Bank of America Corp DE owned 5.16% of NGL Energy Partners worth $33,996,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in NGL. Raymond James Financial Inc. purchased a new stake in shares of NGL Energy Partners in the 4th quarter worth about $55,000. one8zero8 LLC bought a new position in NGL Energy Partners in the fourth quarter worth about $58,000. Two Sigma Securities LLC purchased a new stake in NGL Energy Partners in the fourth quarter worth about $59,000. Mercer Global Advisors Inc. ADV bought a new stake in NGL Energy Partners during the 4th quarter valued at approximately $61,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in NGL Energy Partners during the 4th quarter valued at approximately $79,000. Institutional investors own 40.62% of the company's stock.
Analyst Ratings Changes
Separately, StockNews.com lowered NGL Energy Partners from a "buy" rating to a "hold" rating in a research report on Monday, April 21st.
View Our Latest Research Report on NGL Energy Partners
NGL Energy Partners Price Performance
NGL stock traded down $0.10 during midday trading on Thursday, hitting $3.29. The stock had a trading volume of 27,364 shares, compared to its average volume of 375,739. The business has a 50-day moving average of $3.60 and a two-hundred day moving average of $4.41. The firm has a market cap of $433.66 million, a price-to-earnings ratio of -1.30 and a beta of 0.26. NGL Energy Partners LP has a 52-week low of $2.64 and a 52-week high of $5.97.
About NGL Energy Partners
(
Free Report)
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.
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