JPMorgan Chase & Co. Sells 694,344 Shares of NGL Energy Partners LP $NGL

Key Points

• JPMorgan Chase & Co. reduced its stake in NGL Energy Partners by 18.6%, selling 694,344 shares and now holding 3,040,912 shares (about 2.42% of the company) valued at $18.245 million.
• NGL shows weak fundamentals and cautious analyst sentiment — it missed quarterly EPS ($0.10 vs. $0.16 expected), has a negative ROE and a high PE, and carries an average analyst rating of "Reduce" with Zacks downgrading it to a "strong sell".

JPMorgan Chase & Co. reduced its stake in shares of NGL Energy Partners LP (NYSE:NGL - Free Report) by 18.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,040,912 shares of the oil and gas company's stock after selling 694,344 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.42% of NGL Energy Partners worth $18,245,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its position in shares of 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 purchasing an additional 165,249 shares during the period. CreativeOne Wealth LLC increased its position in shares of NGL Energy Partners by 15.7% during the second quarter. CreativeOne Wealth LLC now owns 17,700 shares of the oil and gas company's stock valued at $76,000 after buying an additional 2,400 shares during the period. Jump Financial LLC raised its stake in NGL Energy Partners by 223.4% in the second quarter. Jump Financial LLC now owns 224,779 shares of the oil and gas company's stock worth $960,000 after buying an additional 155,279 shares in the last quarter. Angelo Gordon & CO. L.P. bought a new position in NGL Energy Partners in the second quarter worth about $2,730,000. Finally, Bank of America Corp DE lifted its holdings in NGL Energy Partners by 8.8% in the second quarter. Bank of America Corp DE now owns 9,885,023 shares of the oil and gas company's stock worth $42,209,000 after buying an additional 797,895 shares during the period. 40.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NGL has been the topic of several research reports. Zacks Research cut NGL Energy Partners from a "hold" rating to a "strong sell" rating in a research report on Thursday, March 12th. Weiss Ratings restated a "hold (c)" rating on shares of NGL Energy Partners in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Reduce".

NGL Energy Partners Price Performance

NYSE:NGL opened at $12.96 on Thursday. The firm's 50-day moving average price is $11.59 and its 200-day moving average price is $9.36. The company has a market capitalization of $1.60 billion, a PE ratio of 324.13 and a beta of 0.34. NGL Energy Partners LP has a 1-year low of $2.64 and a 1-year high of $13.92.

NGL Energy Partners (NYSE:NGL - Get Free Report) last issued its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.06). NGL Energy Partners had a net margin of 5.01% and a negative return on equity of 66.52%. The business had revenue of $909.82 million for the quarter, compared to analysts' expectations of $700.76 million. Equities analysts anticipate that NGL Energy Partners LP will post -0.22 EPS for the current fiscal year.

NGL Energy Partners Profile

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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