NGL Energy Partners LP (NYSE:NGL) Shares Purchased by ING Groep NV

Key Points

• ING Groep NV increased its stake in NGL Energy Partners LP by 8.4%, now holding approximately 1.00% of the company, valued at $6,019,000 after acquiring an additional 103,000 shares.
• Despite a positive earnings report, with $0.07 earnings per share beating estimates, NGL Energy Partners' stock remains volatile, trading down 1.0% recently.
• Several institutional investors, including Cetera Investment Advisers and Tidal Investments LLC, have also modified their positions in NGL Energy Partners, reflecting continuing interest in the company.

ING Groep NV grew its position in NGL Energy Partners LP (NYSE:NGL - Free Report) by 8.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,325,803 shares of the oil and gas company's stock after acquiring an additional 103,000 shares during the quarter. ING Groep NV owned about 1.00% of NGL Energy Partners worth $6,019,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Bank of America Corp DE raised its position in NGL Energy Partners by 27.3% in the 4th quarter. Bank of America Corp DE now owns 6,812,752 shares of the oil and gas company's stock valued at $33,996,000 after purchasing an additional 1,461,754 shares during the last quarter. Invesco Ltd. increased its stake in NGL Energy Partners by 0.4% in the fourth quarter. Invesco Ltd. now owns 19,647,133 shares of the oil and gas company's stock valued at $98,039,000 after purchasing an additional 85,000 shares during the period. Inscription Capital LLC purchased a new stake in shares of NGL Energy Partners in the first quarter valued at about $182,000. Jane Street Group LLC acquired a new stake in shares of NGL Energy Partners during the fourth quarter worth about $182,000. Finally, ELCO Management Co. LLC boosted its stake in shares of NGL Energy Partners by 21.4% during the fourth quarter. ELCO Management Co. LLC now owns 157,120 shares of the oil and gas company's stock worth $784,000 after buying an additional 27,700 shares during the period. 40.62% of the stock is owned by institutional investors and hedge funds.

NGL Energy Partners Stock Performance

NYSE:NGL traded up $0.44 during mid-day trading on Friday, reaching $4.44. The stock had a trading volume of 1,732,241 shares, compared to its average volume of 470,600. The business has a 50 day simple moving average of $4.20 and a 200 day simple moving average of $4.16. NGL Energy Partners LP has a twelve month low of $2.64 and a twelve month high of $5.73. The firm has a market capitalization of $586.14 million, a price-to-earnings ratio of -7.53 and a beta of 0.39.

NGL Energy Partners (NYSE:NGL - Get Free Report) last released its quarterly earnings data 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 47.87% and a net margin of 0.75%. The company had revenue of $622.16 million for the quarter, compared to analysts' expectations of $983.50 million. As a group, sell-side analysts expect that NGL Energy Partners LP will post -0.22 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded NGL Energy Partners from a "buy" rating to a "hold" rating in a research note on Monday, April 21st.

NGL Energy Partners 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.