NGL Energy Partners' (NGL) Hold (C-) Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "hold (C-)" rating for NGL Energy Partners (NYSE:NGL), indicating that analysts view the stock as a consistent but unremarkable investment at this time.
• NGL Energy Partners reported a quarterly earnings loss of ($0.27) per share, significantly below analysts' expectations, along with revenues of $622.16 million, which were also under forecast.
• Director James M. Collingsworth increased his ownership stake by purchasing 100,000 shares at an average price of $5.80 per share, reflecting confidence in the company's future performance.

NGL Energy Partners (NYSE:NGL - Get Free Report)'s stock had its "hold (c-)" rating reiterated by investment analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

NGL Energy Partners Price Performance

NYSE NGL traded down $0.02 during trading on Wednesday, reaching $6.11. 9,637 shares of the company's stock were exchanged, compared to its average volume of 507,075. The business has a 50 day moving average price of $5.48 and a 200-day moving average price of $4.39. The stock has a market capitalization of $781.27 million, a P/E ratio of -14.90 and a beta of 0.38. NGL Energy Partners has a fifty-two week low of $2.64 and a fifty-two week high of $7.15.

NGL Energy Partners (NYSE:NGL - Get Free Report) last announced 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). The business had revenue of $622.16 million for the quarter, compared to analyst estimates of $983.50 million. NGL Energy Partners had a negative return on equity of 43.75% and a net margin of 2.19%. On average, analysts forecast that NGL Energy Partners will post -0.22 earnings per share for the current year.

Insider Buying and Selling at NGL Energy Partners

In other news, Director James M. Collingsworth bought 100,000 shares of the stock in a transaction dated Friday, September 12th. The shares were bought at an average price of $5.80 per share, for a total transaction of $580,000.00. Following the completion of the purchase, the director owned 729,500 shares in the company, valued at approximately $4,231,100. This trade represents a 15.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On NGL Energy Partners

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

About NGL Energy Partners

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.

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