CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Decreases Stock Holdings in NGL Energy Partners LP $NGL

Key Points

• Cushing Asset Management trimmed its stake in NGL Energy Partners by 45.5% in Q4, selling 125,000 shares and ending the period with 150,000 shares (about 0.12% of the company, valued at $1.5M).
• NGL’s Board approved a $100 million stock buyback — authorizing repurchases of up to 6.1% of outstanding shares, a move management says often signals they view the stock as undervalued.
• NGL reported Q4 EPS of $0.10 (missing the $0.16 estimate) but revenue beat at $909.8M vs. $700.8M expected, and the stock carries a consensus Hold rating from analysts.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT trimmed its stake in shares of NGL Energy Partners LP (NYSE:NGL - Free Report) by 45.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 150,000 shares of the oil and gas company's stock after selling 125,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.12% of NGL Energy Partners worth $1,500,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of NGL. CIBC Private Wealth Group LLC bought a new stake in shares of NGL Energy Partners during the 3rd quarter valued at $70,000. CIBC Bancorp USA Inc. bought a new stake in shares of NGL Energy Partners during the 3rd quarter valued at $70,000. Simon Quick Advisors LLC bought a new stake in shares of NGL Energy Partners during the 3rd quarter valued at $129,000. CreativeOne Wealth LLC grew its position in shares of NGL Energy Partners by 33.2% during the 3rd quarter. CreativeOne Wealth LLC now owns 23,571 shares of the oil and gas company's stock valued at $141,000 after acquiring an additional 5,871 shares during the period. Finally, Everpar Advisors LLC grew its position in shares of NGL Energy Partners by 6.5% during the 4th quarter. Everpar Advisors LLC now owns 24,500 shares of the oil and gas company's stock valued at $245,000 after acquiring an additional 1,500 shares during the period. Hedge funds and other institutional investors own 40.62% of the company's stock.

Analyst Upgrades and Downgrades

NGL has been the subject of a number of recent research reports. Zacks Research raised shares of NGL Energy Partners from a "strong sell" rating to a "hold" rating in a research report on Friday, April 10th. Weiss Ratings reissued a "hold (c)" rating on shares of NGL Energy Partners in a research report on Wednesday, January 28th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, NGL Energy Partners currently has a consensus rating of "Hold".

NGL Energy Partners Stock Down 0.5%

Shares of NGL Energy Partners stock opened at $13.05 on Friday. The stock's 50-day simple moving average is $12.21 and its 200-day simple moving average is $10.14. NGL Energy Partners LP has a 52 week low of $2.80 and a 52 week high of $13.92. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 326.21 and a beta of 0.39.

NGL Energy Partners (NYSE:NGL - Get Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.06). NGL Energy Partners had a net margin of 5.01% and a negative return on equity of 66.52%. The business had revenue of $909.82 million during the quarter, compared to analysts' expectations of $700.76 million. On average, equities analysts expect that NGL Energy Partners LP will post -0.22 earnings per share for the current year.

NGL Energy Partners declared that its Board of Directors has approved a stock buyback plan on Thursday, April 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to purchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

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.

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