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

NGL Energy Partners (NYSE:NGL) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

NGL Energy Partners Stock Performance

Shares of NYSE NGL traded down $0.17 during midday trading on Monday, reaching $4.67. 912,773 shares of the company’s stock were exchanged, compared to its average volume of 499,527. The stock has a market capitalization of $615.84 million, a PE ratio of -1.85 and a beta of 1.71. NGL Energy Partners has a 52-week low of $3.84 and a 52-week high of $6.20. The business’s fifty day moving average price is $5.08 and its two-hundred day moving average price is $4.65.

NGL Energy Partners (NYSE:NGL) last announced its quarterly earnings data 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%. Analysts predict that NGL Energy Partners will post -0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO H Michael Krimbill acquired 15,000 shares of NGL Energy Partners stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average cost of $4.49 per share, for a total transaction of $67,350.00. Following the completion of the purchase, the chief executive officer now directly owns 603,000 shares of the company’s stock, valued at $2,707,470. This trade represents a 2.55 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Hedge Funds Weigh In On NGL Energy Partners

Large investors have recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new position in NGL Energy Partners during the third quarter worth $46,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of NGL Energy Partners during the 3rd quarter worth approximately $46,000. Raymond James Financial Inc. acquired a new stake in shares of NGL Energy Partners during the 4th quarter worth approximately $55,000. one8zero8 LLC acquired a new stake in shares of NGL Energy Partners during the 4th quarter worth approximately $58,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of NGL Energy Partners during the 4th quarter worth approximately $59,000. 40.62% of the stock is currently owned by 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.