ING Groep NV Grows Position in NGL Energy Partners LP (NYSE:NGL)

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 raised its holdings in NGL Energy Partners LP (NYSE:NGL - Free Report) by 8.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,325,803 shares of the oil and gas company's stock after buying 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 quarter.

A number of other large investors have also recently made changes to their positions in NGL. Raymond James Financial Inc. bought a new stake in shares of NGL Energy Partners in the 4th quarter worth approximately $55,000. Two Sigma Securities LLC bought a new stake in shares of NGL Energy Partners during the fourth quarter valued at approximately $59,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of NGL Energy Partners during the fourth quarter valued at approximately $61,000. Scissortail Wealth Management LLC bought a new stake in shares of NGL Energy Partners during the fourth quarter valued at approximately $71,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of NGL Energy Partners during the fourth quarter valued at approximately $79,000. 40.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

NGL Energy Partners Stock Performance

Shares of NYSE NGL traded up $0.44 during mid-day trading on Friday, hitting $4.44. 1,732,541 shares of the stock traded hands, compared to its average volume of 437,829. NGL Energy Partners LP has a 52 week low of $2.64 and a 52 week high of $5.73. The company has a market cap of $586.12 million, a price-to-earnings ratio of -10.83 and a beta of 0.39. The stock has a fifty day moving average price of $4.22 and a 200-day moving average price of $4.16.

NGL Energy Partners (NYSE:NGL - Get Free Report) last released its earnings results on Thursday, August 7th. The oil and gas company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.16). NGL Energy Partners had a negative return on equity of 45.06% and a net margin of 2.19%. The company had revenue of $622.16 million during the quarter, compared to the consensus estimate of $983.50 million. As a group, sell-side analysts predict that NGL Energy Partners LP will post -0.22 EPS for the current fiscal 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.