NGL Energy Partners (NYSE:NGL) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of NGL Energy Partners (NYSE:NGL) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

NGL Energy Partners Stock Performance

NGL Energy Partners stock opened at $4.66 on Wednesday. The stock has a market cap of $614.52 million, a P/E ratio of -1.85 and a beta of 1.73. NGL Energy Partners has a fifty-two week low of $3.84 and a fifty-two week high of $6.20. The firm’s fifty day moving average price is $5.05 and its 200-day moving average price is $4.67.

NGL Energy Partners (NYSE:NGL) last released its quarterly earnings results on Monday, February 10th. The oil and gas company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.25). NGL Energy Partners had a negative return on equity of 29.77% and a negative net margin of 3.57%. Sell-side analysts predict that NGL Energy Partners will post -0.22 earnings per share for the current year.

Insider Activity at NGL Energy Partners

In related news, CEO H Michael Krimbill acquired 15,000 shares of NGL Energy Partners stock in a transaction dated Thursday, February 13th. The shares were purchased at an average cost of $4.49 per share, with a total value of $67,350.00. Following the completion of the purchase, the chief executive officer now owns 603,000 shares of the company’s stock, valued at $2,707,470. This represents a 2.55 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Trading of NGL Energy Partners

A number of institutional investors have recently modified their holdings of the company. Invesco Ltd. boosted its holdings in shares of NGL Energy Partners by 0.4% during the fourth quarter. Invesco Ltd. now owns 19,647,133 shares of the oil and gas company’s stock worth $98,039,000 after purchasing an additional 85,000 shares during the period. Bank of America Corp DE lifted its holdings in NGL Energy Partners by 27.3% in the fourth quarter. Bank of America Corp DE now owns 6,812,752 shares of the oil and gas company’s stock worth $33,996,000 after buying an additional 1,461,754 shares during the period. JPMorgan Chase & Co. lifted its holdings in NGL Energy Partners by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 5,008,565 shares of the oil and gas company’s stock worth $22,539,000 after buying an additional 154,098 shares during the period. Citigroup Inc. lifted its holdings in NGL Energy Partners by 15.9% in the third quarter. Citigroup Inc. now owns 2,427,108 shares of the oil and gas company’s stock worth $10,922,000 after buying an additional 333,531 shares during the period. Finally, ING Groep NV increased its stake in shares of NGL Energy Partners by 5.5% during the third quarter. ING Groep NV now owns 1,561,803 shares of the oil and gas company’s stock valued at $7,028,000 after purchasing an additional 80,803 shares in the last quarter. 40.62% of the stock is currently 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.