Cygnus Capital Advisors LLC Sells 137,500 Shares of NGL Energy Partners LP $NGL

Key Points

• Cygnus Capital Advisors cut its NGL Energy Partners stake by 76% in the second quarter, selling 137,500 shares and retaining 43,427 shares valued at approximately $692,000. Institutional investors collectively own 40.62% of the company.
• NGL shares opened at $17.79, near the upper end of their 12-month range of $5.68 to $19.06. The company reported quarterly EPS of $0.48, beating estimates of $0.11, while revenue reached $989.99 million versus a $346.13 million consensus estimate.
• Company insiders purchased 339,923 shares worth about $5.75 million over the past 90 days, including a 300,000-share purchase by Director John T. Raymond. Analyst sentiment improved, with the average rating listed as “Buy”.

Cygnus Capital Advisors LLC lowered its holdings in NGL Energy Partners LP (NYSE:NGL - Free Report) by 76.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,427 shares of the oil and gas company's stock after selling 137,500 shares during the quarter. Cygnus Capital Advisors LLC's holdings in NGL Energy Partners were worth $692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of NGL. Bank of America Corp DE boosted its position in shares of NGL Energy Partners by 18.7% during the third quarter. Bank of America Corp DE now owns 11,728,872 shares of the oil and gas company's stock valued at $70,373,000 after buying an additional 1,843,849 shares during the last quarter. Goldman Sachs Group Inc. raised its position in NGL Energy Partners by 9.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 7,522,370 shares of the oil and gas company's stock worth $75,224,000 after buying an additional 651,779 shares during the last quarter. ING Groep NV raised its position in NGL Energy Partners by 4.9% in the 4th quarter. ING Groep NV now owns 5,174,803 shares of the oil and gas company's stock worth $51,748,000 after buying an additional 243,000 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in NGL Energy Partners by 0.9% during the 4th quarter. JPMorgan Chase & Co. now owns 3,069,571 shares of the oil and gas company's stock valued at $30,696,000 after acquiring an additional 28,659 shares during the period. Finally, Angelo Gordon & CO. L.P. bought a new position in NGL Energy Partners during the 2nd quarter valued at about $2,730,000. 40.62% of the stock is owned by institutional investors.

NGL Energy Partners Stock Up 0.2%

Shares of NYSE:NGL opened at $17.79 on Tuesday. The firm's 50 day moving average price is $16.49 and its 200-day moving average price is $15.11. NGL Energy Partners LP has a twelve month low of $5.68 and a twelve month high of $19.06. The stock has a market capitalization of $2.22 billion, a PE ratio of -6.26 and a beta of 0.66.

NGL Energy Partners (NYSE:NGL - Get Free Report) last announced its earnings results on Tuesday, August 4th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.37. NGL Energy Partners had a negative net margin of 3.76% and a negative return on equity of 39.51%. The company had revenue of $989.99 million during the quarter, compared to analyst estimates of $346.13 million. Analysts expect that NGL Energy Partners LP will post 1.38 earnings per share for the current fiscal year.

Insider Activity

In related news, Director John T. Raymond bought 300,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were bought at an average cost of $16.98 per share, for a total transaction of $5,094,000.00. Following the completion of the transaction, the director owned 376,626 shares of the company's stock, valued at approximately $6,395,109.48. This trade represents a 391.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James M. Collingsworth bought 2,289 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were bought at an average price of $17.00 per share, for a total transaction of $38,913.00. Following the completion of the transaction, the director directly owned 766,797 shares of the company's stock, valued at $13,035,549. This represents a 0.30% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 339,923 shares of company stock valued at $5,750,003 in the last 90 days. Company insiders own 7.30% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NGL. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of NGL Energy Partners in a report on Tuesday, September 1st. Zacks Research upgraded shares of NGL Energy Partners from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen upgraded shares of NGL Energy Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy".

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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