Citigroup Inc. Buys 199,770 Shares of NGL Energy Partners LP $NGL

Key Points

• Citigroup Inc. increased its stake in NGL Energy Partners LP by 8.2%, holding approximately 2.6 million shares valued at around $11.9 million.
• NGL Energy Partners reported a significant earnings miss for the last quarter, with a loss of ($0.27) EPS compared to the consensus estimate of ($0.11) and revenue much lower than expected at $622.16 million.
• Analysts downgraded NGL Energy Partners from a "buy" to a "hold" rating, reflecting concerns about the company's performance and outlook.

Citigroup Inc. raised its stake in NGL Energy Partners LP (NYSE:NGL - Free Report) by 8.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,624,890 shares of the oil and gas company's stock after buying an additional 199,770 shares during the quarter. Citigroup Inc. owned 1.99% of NGL Energy Partners worth $11,917,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its stake 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 buying an additional 1,461,754 shares during the period. ING Groep NV increased its stake in NGL Energy Partners by 8.4% in the 1st quarter. ING Groep NV now owns 1,325,803 shares of the oil and gas company's stock valued at $6,019,000 after buying an additional 103,000 shares during the period. Cetera Investment Advisers increased its stake in NGL Energy Partners by 2.2% in the 1st quarter. Cetera Investment Advisers now owns 277,869 shares of the oil and gas company's stock valued at $1,262,000 after buying an additional 5,865 shares during the period. Tidal Investments LLC increased its stake in shares of NGL Energy Partners by 37.2% during the 4th quarter. Tidal Investments LLC now owns 48,743 shares of the oil and gas company's stock worth $243,000 after purchasing an additional 13,216 shares during the last quarter. Finally, Inscription Capital LLC acquired a new position in shares of NGL Energy Partners during the 1st quarter worth $182,000. Institutional investors and hedge funds own 40.62% of the company's stock.

NGL Energy Partners Price Performance

NYSE:NGL traded down $0.0250 during midday trading on Tuesday, reaching $4.9750. The stock had a trading volume of 52,046 shares, compared to its average volume of 481,275. NGL Energy Partners LP has a 1-year low of $2.64 and a 1-year high of $5.73. The firm's fifty day simple moving average is $4.37 and its 200-day simple moving average is $4.12. The stock has a market capitalization of $636.05 million, a P/E ratio of -12.13 and a beta of 0.39.

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 firm had revenue of $622.16 million during the quarter, compared to analyst estimates of $983.50 million. On average, equities research analysts anticipate that NGL Energy Partners LP will post -0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of 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.