Raymond James & Associates lifted its holdings in shares of NGL Energy Partners LP (NYSE:NGL) by 9.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 84,089 shares of the oil and gas company’s stock after acquiring an additional 7,465 shares during the period. Raymond James & Associates’ holdings in NGL Energy Partners were worth $1,051,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of NGL. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of NGL Energy Partners during the 2nd quarter worth approximately $22,363,000. OppenheimerFunds Inc. grew its position in shares of NGL Energy Partners by 6.0% during the 2nd quarter. OppenheimerFunds Inc. now owns 17,121,298 shares of the oil and gas company’s stock worth $214,016,000 after buying an additional 968,983 shares during the period. Alps Advisors Inc. grew its position in shares of NGL Energy Partners by 6.0% during the 2nd quarter. Alps Advisors Inc. now owns 9,312,778 shares of the oil and gas company’s stock worth $116,410,000 after buying an additional 528,145 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of NGL Energy Partners during the 2nd quarter worth approximately $5,483,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of NGL Energy Partners during the 2nd quarter worth approximately $4,247,000. Institutional investors own 63.34% of the company’s stock.
Shares of NYSE NGL opened at $11.39 on Friday. The company has a market cap of $1.42 billion, a P/E ratio of -16.87 and a beta of 1.16. The company has a quick ratio of 1.59, a current ratio of 2.14 and a debt-to-equity ratio of 1.63. NGL Energy Partners LP has a 52-week low of $10.00 and a 52-week high of $17.65.
NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings data on Tuesday, August 7th. The oil and gas company reported ($1.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.93). The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $4.53 billion. NGL Energy Partners had a negative net margin of 1.01% and a negative return on equity of 0.54%. As a group, equities research analysts predict that NGL Energy Partners LP will post -0.44 earnings per share for the current year.
In other news, CEO H Michael Krimbill acquired 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The stock was purchased at an average price of $11.65 per share, for a total transaction of $233,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John T. Raymond acquired 50,000 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were purchased at an average price of $11.04 per share, with a total value of $552,000.00. Following the acquisition, the director now owns 50,000 shares of the company’s stock, valued at approximately $552,000. The disclosure for this purchase can be found here.
Several brokerages have recently commented on NGL. Stifel Nicolaus lifted their price target on shares of NGL Energy Partners from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, August 14th. ValuEngine cut shares of NGL Energy Partners from a “hold” rating to a “sell” rating in a report on Monday, September 24th. TheStreet upgraded shares of NGL Energy Partners from a “d+” rating to a “c-” rating in a report on Monday, June 25th. Bank of America decreased their price objective on shares of NGL Energy Partners from $15.00 to $13.00 and set a “buy” rating for the company in a report on Monday, October 1st. Finally, Credit Suisse Group initiated coverage on shares of NGL Energy Partners in a report on Thursday, October 11th. They set an “outperform” rating and a $15.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $14.00.
NGL Energy Partners Company Profile
NGL Energy Partners LP, together with its subsidiaries, engages in the crude oil logistics, water solutions, liquids, retail propane, and refined products and renewables businesses. 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; and provides storage, terminaling, trucking, marine, and pipeline transportation services.
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