NGL Energy Partners (NYSE:NGL) Hits New 12-Month High on Insider Buying Activity

Key Points

• NGL Energy Partners shares reached a new 52-week high at $6.14, with a trading volume of 176,244 shares.
• The company reported a quarterly loss of ($0.27) EPS, significantly missing the consensus estimate of (0.11), and its revenue was below analyst expectations.
• Approximately 40.62% of NGL Energy Partners' stock is currently held by institutional investors, indicating significant interest from large investment firms.

NGL Energy Partners LP (NYSE:NGL - Get Free Report) shares hit a new 52-week high during trading on Tuesday after an insider bought additional shares in the company. The company traded as high as $6.11 and last traded at $6.14, with a volume of 176244 shares traded. The stock had previously closed at $5.75.

Specifically, Director James M. Collingsworth purchased 100,000 shares of the stock in a transaction that occurred 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 acquisition, the director directly owned 729,500 shares in the company, valued at approximately $4,231,100. The trade was a 15.89% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

NGL Energy Partners Stock Performance

The business has a fifty day simple moving average of $4.99 and a 200 day simple moving average of $4.25. The stock has a market cap of $848.92 million, a price-to-earnings ratio of -16.20 and a beta of 0.41.

NGL Energy Partners (NYSE:NGL - Get Free Report) last announced its earnings results on Thursday, August 7th. The oil and gas company reported ($0.27) EPS 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 company had revenue of $622.16 million for the quarter, compared to analyst estimates of $983.50 million. On average, equities research analysts anticipate that NGL Energy Partners LP will post -0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Carter Financial Group INC. purchased a new position in NGL Energy Partners in the second quarter valued at about $277,000. State of Wyoming raised its position in NGL Energy Partners by 184.0% in the second quarter. State of Wyoming now owns 32,202 shares of the oil and gas company's stock valued at $138,000 after purchasing an additional 20,864 shares during the period. Nomura Holdings Inc. raised its position in NGL Energy Partners by 58.9% in the second quarter. Nomura Holdings Inc. now owns 455,183 shares of the oil and gas company's stock valued at $1,944,000 after purchasing an additional 168,772 shares during the period. Massar Capital Management LP raised its position in NGL Energy Partners by 23.2% in the second 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 period. Finally, Bank of America Corp DE raised its position in NGL Energy Partners by 8.8% in the second 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 purchasing an additional 797,895 shares during the period. 40.62% of the stock is owned by hedge funds and other institutional investors.

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.