Wells Fargo & Company MN reduced its position in NGL Energy Partners (NYSE:NGL) by 72.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 168,907 shares of the oil and gas company’s stock after selling 443,303 shares during the period. Wells Fargo & Company MN owned 0.14% of NGL Energy Partners worth $2,374,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Northern Trust Corp grew its holdings in shares of NGL Energy Partners by 3.6% in the 2nd quarter. Northern Trust Corp now owns 43,224 shares of the oil and gas company’s stock worth $605,000 after acquiring an additional 1,515 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of NGL Energy Partners by 399.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,983 shares of the oil and gas company’s stock worth $104,000 after buying an additional 7,183 shares during the period. JPMorgan Chase & Co. raised its position in shares of NGL Energy Partners by 34.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,352,179 shares of the oil and gas company’s stock worth $25,874,000 after buying an additional 599,612 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its position in shares of NGL Energy Partners by 82.5% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 184,687 shares of the oil and gas company’s stock worth $2,133,000 after buying an additional 83,466 shares during the period. Finally, Neuberger Berman Group LLC purchased a new position in NGL Energy Partners in the third quarter valued at about $470,000. 65.62% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:NGL opened at $12.00 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.14 and a debt-to-equity ratio of 1.64. NGL Energy Partners has a 12 month low of $8.57 and a 12 month high of $21.98.
NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings results on Friday, February 9th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.13. The firm had revenue of $4.46 billion for the quarter, compared to analyst estimates of $3.96 billion. NGL Energy Partners had a negative net margin of 0.97% and a negative return on equity of 1.85%. analysts expect that NGL Energy Partners will post -0.66 earnings per share for the current fiscal year.
In other news, CEO H Michael Krimbill acquired 30,000 shares of the stock in a transaction on Friday, March 16th. The shares were purchased at an average cost of $11.22 per share, for a total transaction of $336,600.00. Following the transaction, the chief executive officer now owns 844,417 shares in the company, valued at approximately $9,474,358.74. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.
Several research analysts have commented on the company. Zacks Investment Research raised NGL Energy Partners from a “sell” rating to a “hold” rating in a research report on Saturday, January 20th. Credit Suisse Group began coverage on NGL Energy Partners in a research note on Thursday, January 4th. They set an “outperform” rating and a $16.00 target price for the company. ValuEngine upgraded NGL Energy Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. UBS reiterated a “buy” rating and issued a $17.00 price target (down from $17.50) on shares of NGL Energy Partners in a research note on Friday, March 2nd. Finally, Stifel Nicolaus set a $11.00 price target on NGL Energy Partners and gave the stock a “hold” rating in a research note on Wednesday, March 14th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. NGL Energy Partners currently has a consensus rating of “Hold” and a consensus price target of $15.80.
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About NGL Energy Partners
NGL Energy Partners LP, through its subsidiaries, engages in the crude oil logistics, water solutions, liquids, retail propane, and refined products and renewables businesses in the United States. The Crude Oil Logistics segment purchases crude oil from producers and transports it to refineries for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs.
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