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 holdings in shares of NGL Energy Partners LP (NYSE:NGL - Free Report) by 37.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 about 0.21% of NGL Energy Partners worth $1,174,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NGL. Goldman Sachs Group Inc. grew its stake in NGL Energy Partners by 3.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,248,614 shares of the oil and gas company's stock worth $23,829,000 after acquiring an additional 165,249 shares during the period. Citigroup Inc. lifted its holdings in shares of NGL Energy Partners by 8.2% during the 1st quarter. Citigroup Inc. now owns 2,624,890 shares of the oil and gas company's stock valued at $11,917,000 after acquiring an additional 199,770 shares in the last quarter. ING Groep NV lifted its holdings in NGL Energy Partners by 8.4% in the 1st quarter. ING Groep NV now owns 1,325,803 shares of the oil and gas company's stock worth $6,019,000 after buying an additional 103,000 shares in the last quarter. NBW Capital LLC lifted its holdings in NGL Energy Partners by 15.8% in the 1st quarter. NBW Capital LLC now owns 520,259 shares of the oil and gas company's stock worth $2,362,000 after buying an additional 70,924 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new position in NGL Energy Partners in the 1st quarter worth $1,300,000. 40.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director James M. Collingsworth bought 100,000 shares of the firm's stock in a transaction on Friday, September 12th. The stock was purchased at an average price of $5.80 per share, for a total transaction of $580,000.00. Following the transaction, the director owned 729,500 shares in the company, valued at approximately $4,231,100. This trade represents a 15.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

NGL Energy Partners Price Performance

Shares of NGL stock opened at $6.64 on Monday. The firm has a market capitalization of $848.92 million, a P/E ratio of -16.20 and a beta of 0.41. The company's fifty day moving average price is $4.99 and its two-hundred day moving average price is $4.24. 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 announced its quarterly earnings data on Thursday, August 7th. The oil and gas company reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.16). NGL Energy Partners had a net margin of 2.19% and a negative return on equity of 43.75%. The business had revenue of $622.16 million for the quarter, compared to the consensus estimate of $983.50 million. On average, sell-side analysts anticipate that NGL Energy Partners LP will post -0.22 EPS for the current year.

About NGL Energy Partners

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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