NGL Energy Partners (NYSE:NGL) Director John Raymond Acquires 25,500 Shares

Key Points

• Director John Raymond purchased 25,500 NGL shares at an average price of $16.22, investing $413,610 and increasing his direct ownership by nearly 50% to 76,626 shares.
• NGL shares rose 6.7% to $17.43, while the company reported quarterly EPS of $0.48, significantly exceeding the $0.11 consensus estimate; revenue was $989.99 million.
• Analyst sentiment is broadly positive, with a consensus “Buy” rating, and institutional investors own approximately 40.62% of the company’s stock.

NGL Energy Partners LP (NYSE:NGL - Get Free Report) Director John Raymond acquired 25,500 shares of the business's stock in a transaction on Monday, August 24th. The shares were bought at an average price of $16.22 per share, with a total value of $413,610.00. Following the completion of the transaction, the director directly owned 76,626 shares of the company's stock, valued at approximately $1,242,873.72. The trade was a 49.88% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

NGL Energy Partners Trading Up 6.7%

NYSE NGL traded up $1.10 during trading on Tuesday, reaching $17.43. The company's stock had a trading volume of 434,926 shares, compared to its average volume of 299,003. The firm has a 50 day moving average price of $16.08 and a 200 day moving average price of $14.69. NGL Energy Partners LP has a 12 month low of $5.01 and a 12 month high of $18.80. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -6.13 and a beta of 0.63.

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On NGL Energy Partners

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in NGL Energy Partners by 18.7% during the 3rd quarter. Bank of America Corp DE now owns 11,728,872 shares of the oil and gas company's stock worth $70,373,000 after buying an additional 1,843,849 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of NGL Energy Partners by 9.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 7,522,370 shares of the oil and gas company's stock worth $75,224,000 after purchasing an additional 651,779 shares in the last quarter. ING Groep NV lifted its holdings in shares of NGL Energy Partners by 4.9% in the 4th quarter. ING Groep NV now owns 5,174,803 shares of the oil and gas company's stock worth $51,748,000 after purchasing an additional 243,000 shares in the last quarter. JPMorgan Chase & Co. grew its position in NGL Energy Partners by 0.9% in the 4th quarter. JPMorgan Chase & Co. now owns 3,069,571 shares of the oil and gas company's stock valued at $30,696,000 after purchasing an additional 28,659 shares during the period. Finally, Angelo Gordon & CO. L.P. bought a new stake in NGL Energy Partners during the 2nd quarter valued at $2,730,000. 40.62% of the stock is currently owned by institutional investors and hedge funds.

About NGL Energy Partners

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source