Invesco Ltd. Sells 85,000 Shares of NGL Energy Partners LP (NYSE:NGL)

Key Points

• Invesco Ltd. sold 85,000 shares of NGL Energy Partners LP, reducing its stake to approximately 14.82%, valued at around $88.8 million as of its latest SEC filing.
• Institutional investors collectively own about 40.62% of NGL Energy Partners, with several firms, including Bank of America and Citigroup, increasing their holdings in the first quarter.
• NGL Energy Partners reported a loss of $0.27 earnings per share for the last quarter, missing analyst expectations, and is projected to have a negative earnings per share of -0.22 for the current year.

Invesco Ltd. lessened its stake in NGL Energy Partners LP (NYSE:NGL - Free Report) by 0.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,562,133 shares of the oil and gas company's stock after selling 85,000 shares during the quarter. Invesco Ltd. owned about 14.82% of NGL Energy Partners worth $88,812,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Bank of America Corp DE increased its holdings in NGL Energy Partners by 27.3% in the fourth 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. Citigroup Inc. increased its holdings in NGL Energy Partners by 8.2% in the first quarter. Citigroup Inc. now owns 2,624,890 shares of the oil and gas company's stock valued at $11,917,000 after purchasing an additional 199,770 shares during the last quarter. ING Groep NV increased its holdings 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 purchasing an additional 103,000 shares during the last quarter. NBW Capital LLC increased its holdings in NGL Energy Partners by 15.8% in the first quarter. NBW Capital LLC now owns 520,259 shares of the oil and gas company's stock valued at $2,362,000 after purchasing an additional 70,924 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in NGL Energy Partners by 2.2% in the first quarter. Cetera Investment Advisers now owns 277,869 shares of the oil and gas company's stock valued at $1,262,000 after purchasing an additional 5,865 shares during the last quarter. Institutional investors own 40.62% of the company's stock.

NGL Energy Partners Trading Up 0.8%

NYSE:NGL opened at $4.97 on Friday. NGL Energy Partners LP has a 1 year low of $2.64 and a 1 year high of $5.73. The stock has a market cap of $635.41 million, a price-to-earnings ratio of -12.12 and a beta of 0.39. The stock has a 50-day moving average price of $4.35 and a two-hundred day moving average price of $4.14.

NGL Energy Partners (NYSE:NGL - Get Free Report) last posted its earnings results on Thursday, August 7th. The oil and gas company reported ($0.27) earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $983.50 million. Sell-side analysts forecast 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 cut NGL Energy Partners from a "buy" rating to a "hold" rating in a research note on Monday, April 21st.

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.

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