NGL Energy Partners (NYSE:NGL) Trading Up 4.3% on Insider Buying Activity

Key Points

• NGL Energy Partners shares rose 4.3% to approximately $18.27 after significant insider buying, including purchases by Directors James M. Collingsworth and John T. Raymond.
• Analyst sentiment is broadly positive: Zacks upgraded the stock to “strong buy,” Wall Street Zen raised its rating to “buy,” and MarketBeat reports a consensus “Buy” rating.
• The company exceeded quarterly expectations, reporting $0.48 in EPS versus $0.11 expected and revenue of $989.99 million versus a $346.13 million consensus estimate, although profitability metrics remained negative.

NGL Energy Partners LP (NYSE:NGL - Get Free Report) shares rose 4.3% during mid-day trading on Friday after an insider bought additional shares in the company. The company traded as high as $18.36 and last traded at $18.27. Approximately 137,347 shares were traded during trading, a decline of 54% from the average session volume of 296,993 shares. The stock had previously closed at $17.52.

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

Analysts Set New Price Targets

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

NGL Energy Partners Trading Up 3.7%

The business has a 50-day moving average price of $16.18 and a 200 day moving average price of $14.80. The company has a market cap of $2.27 billion, a price-to-earnings ratio of -6.40 and a beta of 0.63.

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

Hedge Funds Weigh In On NGL Energy Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Corient Private Wealth LP acquired a new stake in NGL Energy Partners during the 2nd quarter worth about $159,000. Carter Financial Group INC. lifted its stake in NGL Energy Partners by 3.1% during the second quarter. Carter Financial Group INC. now owns 66,889 shares of the oil and gas company's stock valued at $1,066,000 after buying an additional 2,000 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of NGL Energy Partners in the first quarter worth about $397,000. Arkadios Wealth Advisors acquired a new position in shares of NGL Energy Partners in the first quarter worth about $228,000. Finally, State of Wyoming increased its position in shares of NGL Energy Partners by 156.2% in the first quarter. State of Wyoming now owns 44,173 shares of the oil and gas company's stock worth $545,000 after acquiring an additional 26,930 shares in the last quarter. Institutional investors and hedge funds own 40.62% of the company's stock.

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