NGL Energy Partners (NYSE:NGL) Sets New 12-Month High Following Insider Buying Activity

Key Points

• NGL Energy Partners shares hit a new 52-week high, reaching $18.89 and last trading at $18.61, up 3.2% from the prior close.
• Insiders made significant purchases, including Director James M. Collingsworth buying more than 13,000 shares and Director John T. Raymond acquiring 300,000 shares worth approximately $5.1 million.
• The company exceeded quarterly expectations with $0.48 in EPS versus the $0.11 consensus and $989.99 million in revenue, while analysts maintain an overall “Buy” rating.

NGL Energy Partners LP (NYSE:NGL - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday following insider buying activity. The stock traded as high as $18.89 and last traded at $18.61, with a volume of 100848 shares. The stock had previously closed at $18.02.

Specifically, Director James M. Collingsworth bought 2,289 shares of the company's stock in a transaction on Thursday, August 27th. The shares were acquired at an average cost of $17.00 per share, with a total value of $38,913.00. Following the completion of the transaction, the director owned 766,797 shares of the company's stock, valued at approximately $13,035,549. This trade represents a 0.30% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James M. Collingsworth purchased 10,808 shares of the business's stock in a transaction on Tuesday, August 25th. The shares were purchased at an average price of $16.82 per share, with a total value of $181,790.56. Following the completion of the purchase, the director owned 764,308 shares in the company, valued at approximately $12,855,660.56. This trade represents a 1.43% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In other NGL Energy Partners news, Director John T. Raymond acquired 300,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were purchased at an average price of $16.98 per share, for a total transaction of $5,094,000.00. Following the purchase, the director directly owned 376,626 shares of the company's stock, valued at approximately $6,395,109.48. This trade represents a 391.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NGL shares. Weiss Ratings lowered shares of NGL Energy Partners from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, June 4th. Zacks Research upgraded shares of NGL Energy Partners from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, NGL Energy Partners presently has an average rating of "Buy".

NGL Energy Partners Trading Up 3.2%

The stock has a 50 day moving average of $16.23 and a 200-day moving average of $14.84. The company has a market capitalization of $2.32 billion, a P/E ratio of -6.57 and a beta of 0.63.

NGL Energy Partners (NYSE:NGL - Get Free Report) last released its earnings results on Tuesday, August 4th. The oil and gas company reported $0.48 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.37. The company had revenue of $989.99 million for the quarter, compared to analysts' expectations of $346.13 million. NGL Energy Partners had a negative net margin of 3.76% and a negative return on equity of 39.51%. As a group, sell-side analysts expect that NGL Energy Partners LP will post 1.38 EPS for the current fiscal year.

Institutional Trading of NGL Energy Partners

Several institutional investors and hedge funds have recently modified their holdings of the company. Corient Private Wealth LP bought a new position in NGL Energy Partners in the 2nd quarter worth $159,000. CIBC Bancorp USA Inc. purchased a new position in shares of NGL Energy Partners in the third quarter valued at about $70,000. CIBC Private Wealth Group LLC purchased a new position in shares of NGL Energy Partners in the third quarter valued at about $70,000. LPL Financial LLC bought a new position in shares of NGL Energy Partners in the fourth quarter worth about $120,000. Finally, Royal Bank of Canada boosted its stake in shares of NGL Energy Partners by 71.2% in the fourth quarter. Royal Bank of Canada now owns 14,454 shares of the oil and gas company's stock worth $145,000 after acquiring an additional 6,009 shares during the period. 40.62% of the stock is currently owned by institutional investors.

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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