Insider Buying: NGL Energy Partners (NYSE:NGL) Director Buys 100,000 Shares of Stock

Key Points

• Director James Collingsworth acquired 100,000 shares of NGL Energy Partners for an average price of $5.80 per share, increasing his holdings by 15.89%.
• NGL Energy Partners reported a quarterly loss of ($0.27) per share, falling short of analysts' expectations, with revenue of $622.16 million compared to $983.50 million in estimates.
• Approximately 40.62% of NGL Energy Partners' stock is held by hedge funds and institutional investors, indicating significant institutional interest in the company.

NGL Energy Partners LP (NYSE:NGL - Get Free Report) Director James M. Collingsworth acquired 100,000 shares of the company's stock in a transaction on Friday, September 12th. The shares were acquired at an average price of $5.80 per share, for a total transaction of $580,000.00. Following the completion of the acquisition, the director directly owned 729,500 shares in the company, valued at $4,231,100. The trade was a 15.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

NGL Energy Partners Stock Performance

Shares of NYSE NGL traded down $0.32 during trading on Friday, reaching $6.64. The stock had a trading volume of 729,703 shares, compared to its average volume of 741,807. NGL Energy Partners LP has a one year low of $2.64 and a one year high of $7.15. The stock has a market cap of $848.92 million, a PE ratio of -16.20 and a beta of 0.41. The firm's 50 day moving average price is $4.99 and its two-hundred day moving average price is $4.25.

NGL Energy Partners (NYSE:NGL - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The oil and gas company reported ($0.27) earnings per share 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 the consensus estimate of $983.50 million. On average, research analysts expect that NGL Energy Partners LP will post -0.22 earnings per share for the current year.

Institutional Investors Weigh In On NGL Energy Partners

A number of institutional investors have recently made changes to their positions in the company. CreativeOne Wealth LLC increased its holdings in shares of NGL Energy Partners by 15.7% in the 2nd quarter. CreativeOne Wealth LLC now owns 17,700 shares of the oil and gas company's stock valued at $76,000 after acquiring an additional 2,400 shares during the last quarter. Massar Capital Management LP grew its stake in NGL Energy Partners by 23.2% during the 2nd quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company's stock worth $120,000 after buying an additional 5,295 shares during the last quarter. Cetera Investment Advisers grew its stake in NGL Energy Partners by 2.2% during the 1st quarter. Cetera Investment Advisers now owns 277,869 shares of the oil and gas company's stock worth $1,262,000 after buying an additional 5,865 shares during the last quarter. Windsor Advisory Group LLC bought a new position in NGL Energy Partners during the 1st quarter worth $45,000. Finally, State of Wyoming bought a new position in NGL Energy Partners during the 1st quarter worth $51,000. 40.62% of the stock is currently owned by institutional investors.

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.