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 note issued to investors on Wednesday.

NGL Energy Partners Trading Down 1.3 %

Shares of NYSE:NGL opened at $4.62 on Wednesday. The stock has a fifty day simple moving average of $5.07 and a two-hundred day simple moving average of $4.67. The stock has a market capitalization of $609.90 million, a price-to-earnings ratio of -1.83 and a beta of 1.73. NGL Energy Partners has a 12-month low of $3.84 and a 12-month high of $6.20.

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

Insiders Place Their Bets

In other NGL Energy Partners news, CEO H Michael Krimbill bought 15,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $4.49 per share, for a total transaction of $67,350.00. Following the completion of the transaction, the chief executive officer now 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 document filed with the SEC, which is available through this hyperlink.

Institutional Trading of NGL Energy Partners

Several institutional investors have recently made changes to their positions in NGL. XTX Topco Ltd purchased a new stake in shares of NGL Energy Partners during the third quarter worth about $46,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of NGL Energy Partners during the 3rd quarter worth approximately $46,000. Raymond James Financial Inc. bought a new stake in shares of NGL Energy Partners during the 4th quarter worth approximately $55,000. one8zero8 LLC purchased a new position in NGL Energy Partners during the 4th quarter worth $58,000. Finally, Two Sigma Securities LLC purchased a new position in NGL Energy Partners during the 4th quarter worth $59,000. Hedge funds and other institutional investors own 40.62% of the company’s stock.

NGL Energy Partners Company Profile

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.