NGL Energy Partners (NYSE:NGL) Director Buys $38,913.00 in Stock

Key Points

• Director James Collingsworth bought 2,289 NGL shares at $17 each, investing $38,913 and increasing his stake to 766,797 shares.
• NGL shares rose to $18, near their 52-week high of $18.80, while the company reported quarterly earnings of $0.48 per share—well above the $0.11 consensus estimate.
• Analyst sentiment is broadly positive, with the stock holding a consensus “Buy” rating; institutional investors and hedge funds own approximately 40.62% of the company.

NGL Energy Partners LP (NYSE:NGL - Get Free Report) Director James Collingsworth purchased 2,289 shares of the firm's stock in a transaction dated Thursday, August 27th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $38,913.00. Following the purchase, the director owned 766,797 shares in the company, valued at approximately $13,035,549. The trade was a 0.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

NGL Energy Partners Price Performance

Shares of NYSE:NGL traded up $0.48 during midday trading on Friday, reaching $18.00. 91,313 shares of the company's stock were exchanged, compared to its average volume of 296,781. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -6.34 and a beta of 0.63. NGL Energy Partners LP has a fifty-two week low of $5.32 and a fifty-two week high of $18.80. The firm's 50 day simple moving average is $16.18 and its two-hundred day simple moving average is $14.80.

NGL Energy Partners (NYSE:NGL - Get Free Report) last announced its earnings results on Tuesday, August 4th. The oil and gas company reported $0.48 earnings per share for the quarter, topping the consensus estimate 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 net margin of 3.76% and a negative return on equity of 39.51%. Equities research analysts predict that NGL Energy Partners LP will post 1.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on NGL shares. Weiss Ratings lowered NGL Energy Partners from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 4th. Zacks Research raised NGL Energy Partners from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. Finally, Wall Street Zen upgraded 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 assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy".

Hedge Funds Weigh In On NGL Energy Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its holdings in NGL Energy Partners by 3.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,248,614 shares of the oil and gas company's stock valued at $23,829,000 after purchasing an additional 165,249 shares during the last quarter. Jump Financial LLC grew its stake in NGL Energy Partners by 223.4% in the 2nd quarter. Jump Financial LLC now owns 224,779 shares of the oil and gas company's stock valued at $960,000 after acquiring an additional 155,279 shares during the last quarter. Angelo Gordon & CO. L.P. purchased a new position in NGL Energy Partners during the 2nd quarter valued at about $2,730,000. Bank of America Corp DE increased its holdings in NGL Energy Partners by 8.8% during the 2nd quarter. Bank of America Corp DE now owns 9,885,023 shares of the oil and gas company's stock valued at $42,209,000 after acquiring an additional 797,895 shares in the last quarter. Finally, Massar Capital Management LP raised its position in NGL Energy Partners by 23.2% during the second quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company's stock worth $120,000 after acquiring an additional 5,295 shares during the last quarter. 40.62% of the stock is owned by institutional investors and hedge funds.

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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