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

Key Points

• CUSHING ASSET MANAGEMENT LP increased its holdings in NGL Energy Partners LP by 37.5% in the second quarter, now owning 275,000 shares valued at approximately $1.17 million.
• Other institutional investors, including Goldman Sachs and Citigroup, also raised their stakes in NGL Energy Partners during the first quarter, indicating growing interest in the company.
• NGL Energy Partners reported a net loss of ($0.27) earnings per share for the last quarter, missing analysts' expectations and highlighting ongoing financial challenges for the firm.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in shares of NGL Energy Partners LP (NYSE:NGL - Free Report) by 37.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 275,000 shares of the oil and gas company's stock after purchasing an additional 75,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.21% of NGL Energy Partners worth $1,174,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Jane Street Group LLC acquired a new position in shares of NGL Energy Partners during the 4th quarter worth approximately $182,000. Tidal Investments LLC increased its stake in shares of NGL Energy Partners by 37.2% in the fourth quarter. Tidal Investments LLC now owns 48,743 shares of the oil and gas company's stock valued at $243,000 after buying an additional 13,216 shares during the period. Inscription Capital LLC acquired a new stake in NGL Energy Partners during the first quarter worth approximately $182,000. Cetera Investment Advisers grew its stake in NGL Energy Partners by 2.2% during the first quarter. Cetera Investment Advisers now owns 277,869 shares of the oil and gas company's stock worth $1,262,000 after purchasing an additional 5,865 shares during the period. Finally, ING Groep NV grew its stake in NGL Energy Partners by 8.4% in the first quarter. ING Groep NV now owns 1,325,803 shares of the oil and gas company's stock valued at $6,019,000 after acquiring an additional 103,000 shares during the period. Institutional investors own 40.62% of the company's stock.

NGL Energy Partners Price Performance

Shares of NGL stock traded down $0.33 during trading hours on Monday, reaching $6.30. The company had a trading volume of 456,435 shares, compared to its average volume of 669,705. The business has a fifty day simple moving average of $5.03 and a 200-day simple moving average of $4.25. The company has a market cap of $805.46 million, a price-to-earnings ratio of -15.37 and a beta of 0.41. NGL Energy Partners LP has a 12 month low of $2.64 and a 12 month high of $7.15.

NGL Energy Partners (NYSE:NGL - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The oil and gas company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.16). NGL Energy Partners had a negative return on equity of 43.75% and a net margin of 2.19%.The business had revenue of $622.16 million for the quarter, compared to the consensus estimate of $983.50 million. On average, equities research analysts expect that NGL Energy Partners LP will post -0.22 earnings per share for the current year.

Insider Transactions at NGL Energy Partners

In related news, Director James M. Collingsworth purchased 100,000 shares of NGL Energy Partners stock in a transaction dated Friday, September 12th. The stock was bought at an average cost of $5.80 per share, for a total transaction of $580,000.00. Following the completion of the transaction, the director owned 729,500 shares in the company, valued at $4,231,100. This trade represents a 15.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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.