NGL Energy Partners (NYSE:NGL) CEO Sells $5,100,000.00 in Stock

Key Points

• CEO H. Michael Krimbill sold 300,000 NGL shares at an average price of $17.00, generating $5.1 million. His direct ownership declined 8.16% to 3,378,615 shares.
• NGL shares traded down 2.2% to $17.13, though the company’s latest quarterly results exceeded expectations, with EPS of $0.48 versus the $0.11 consensus estimate and revenue of nearly $990 million.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating, while institutional investors and hedge funds own approximately 40.62% of the partnership.

NGL Energy Partners LP (NYSE:NGL - Get Free Report) CEO H Michael Krimbill sold 300,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $17.00, for a total value of $5,100,000.00. Following the completion of the transaction, the chief executive officer directly owned 3,378,615 shares of the company's stock, valued at $57,436,455. This trade represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NGL Energy Partners Trading Down 2.2%

NGL traded down $0.38 during trading hours on Wednesday, hitting $17.13. The company's stock had a trading volume of 198,068 shares, compared to its average volume of 298,933. The company has a 50-day simple moving average of $16.12 and a 200 day simple moving average of $14.73. The firm has a market capitalization of $2.14 billion, a PE ratio of -6.03 and a beta of 0.63. NGL Energy Partners LP has a fifty-two week low of $5.01 and a fifty-two week high of $18.80.

NGL Energy Partners (NYSE:NGL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.37. The company had revenue of $989.99 million during the quarter, compared to analyst estimates of $346.13 million. NGL Energy Partners had a negative return on equity of 39.51% and a negative net margin of 3.76%. Research analysts expect that NGL Energy Partners LP will post 1.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Weiss Ratings lowered shares of NGL Energy Partners from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, June 4th. Zacks Research upgraded shares of NGL Energy Partners from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen raised shares of NGL Energy Partners from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, NGL Energy Partners has a consensus rating of "Buy".

Institutional Trading of NGL Energy Partners

Several institutional investors have recently modified their holdings of NGL. Carter Financial Group INC. grew its holdings in NGL Energy Partners by 3.1% during the second quarter. Carter Financial Group INC. now owns 66,889 shares of the oil and gas company's stock worth $1,066,000 after acquiring an additional 2,000 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in NGL Energy Partners in the 1st quarter valued at about $397,000. Arkadios Wealth Advisors acquired a new stake in NGL Energy Partners in the 1st quarter valued at about $228,000. State of Wyoming boosted its position in shares of NGL Energy Partners by 156.2% during the 1st quarter. State of Wyoming now owns 44,173 shares of the oil and gas company's stock valued at $545,000 after purchasing an additional 26,930 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of NGL Energy Partners by 2.6% during the 1st quarter. Cetera Investment Advisers now owns 250,049 shares of the oil and gas company's stock valued at $3,083,000 after purchasing an additional 6,380 shares in the last quarter. Institutional investors and hedge funds own 40.62% of the company's stock.

NGL Energy Partners Company 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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