Financial Advocates Investment Management bought a new stake in shares of NGL Energy Partners LP (NYSE:NGL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 75,174 shares of the oil and gas company’s stock, valued at approximately $1,056,000. Financial Advocates Investment Management owned about 0.06% of NGL Energy Partners as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in NGL. Alps Advisors Inc. purchased a new stake in shares of NGL Energy Partners during the fourth quarter valued at $130,044,000. HITE Hedge Asset Management LLC lifted its holdings in shares of NGL Energy Partners by 414.8% during the third quarter. HITE Hedge Asset Management LLC now owns 2,818,082 shares of the oil and gas company’s stock valued at $32,549,000 after purchasing an additional 2,270,714 shares during the last quarter. Advisory Research Inc. lifted its holdings in shares of NGL Energy Partners by 57.7% during the fourth quarter. Advisory Research Inc. now owns 3,611,015 shares of the oil and gas company’s stock valued at $50,735,000 after purchasing an additional 1,320,600 shares during the last quarter. Cushing Asset Management LP lifted its holdings in shares of NGL Energy Partners by 20.4% during the fourth quarter. Cushing Asset Management LP now owns 6,184,050 shares of the oil and gas company’s stock valued at $86,886,000 after purchasing an additional 1,047,938 shares during the last quarter. Finally, Brightline Capital Management LLC purchased a new stake in shares of NGL Energy Partners during the fourth quarter valued at $9,133,000. 65.63% of the stock is owned by institutional investors and hedge funds.
NGL Energy Partners LP (NYSE:NGL) opened at $11.55 on Friday. The firm has a market capitalization of $1,368.25, a price-to-earnings ratio of -6.75 and a beta of 1.02. NGL Energy Partners LP has a 52-week low of $8.57 and a 52-week high of $23.19. 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 (NYSE:NGL) last posted its quarterly earnings results on Friday, February 9th. The oil and gas company reported $0.32 earnings per share for the quarter, beating the 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 return on equity of 1.85% and a negative net margin of 0.97%. equities analysts predict that NGL Energy Partners LP will post -1.19 EPS for the current fiscal year.
Several research firms recently weighed in on NGL. 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 report on Thursday, January 4th. They set an “outperform” rating and a $16.00 price target on the stock. ValuEngine raised NGL Energy Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. UBS reissued a “buy” rating and set a $17.00 price target (down from $17.50) on shares of NGL Energy Partners in a research report on Friday, March 2nd. Finally, Stifel Nicolaus upped their price target on NGL Energy Partners from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Tuesday, November 21st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. NGL Energy Partners has a consensus rating of “Hold” and a consensus target price of $15.80.
NGL Energy Partners Company Profile
NGL Energy Partners LP owns and operates a vertically integrated energy business. The Company’s segments are crude oil logistics, water solutions, liquids, retail propane, refined products and renewables, and corporate and other. Its crude oil logistics segment includes owned and leased crude oil storage terminals, and owned and leased pipeline injection stations.
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