JPMorgan Chase & Co. Sells 1,813,884 Shares of NGL Energy Partners LP $NGL

JPMorgan Chase & Co. cut its position in shares of NGL Energy Partners LP (NYSE:NGL) by 32.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,735,256 shares of the oil and gas company’s stock after selling 1,813,884 shares during the period. JPMorgan Chase & Co.’s holdings in NGL Energy Partners were worth $15,950,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Windsor Advisory Group LLC purchased a new position in shares of NGL Energy Partners during the first quarter valued at $45,000. State of Wyoming purchased a new position in NGL Energy Partners during the 1st quarter valued at about $51,000. Jump Financial LLC increased its position in NGL Energy Partners by 213.1% during the 1st quarter. Jump Financial LLC now owns 69,500 shares of the oil and gas company’s stock valued at $316,000 after purchasing an additional 47,300 shares during the period. ELCO Management Co. LLC raised its holdings in shares of NGL Energy Partners by 26.2% in the 2nd quarter. ELCO Management Co. LLC now owns 197,580 shares of the oil and gas company’s stock valued at $844,000 after purchasing an additional 40,960 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of NGL Energy Partners by 37.5% in the 2nd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 275,000 shares of the oil and gas company’s stock worth $1,174,000 after purchasing an additional 75,000 shares during the period. Institutional investors own 40.62% of the company’s stock.

Insider Activity at NGL Energy Partners

In other NGL Energy Partners news, Director James M. Collingsworth acquired 100,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was purchased at an average price of $5.80 per share, for a total transaction of $580,000.00. Following the acquisition, the director owned 729,500 shares in the company, valued at approximately $4,231,100. This trade represents a 15.89% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of NGL Energy Partners in a report on Friday, October 31st. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold”.

NGL Energy Partners Stock Performance

NYSE:NGL opened at $9.78 on Friday. The company’s 50-day simple moving average is $7.84 and its 200-day simple moving average is $5.78. NGL Energy Partners LP has a fifty-two week low of $2.64 and a fifty-two week high of $10.29. The stock has a market capitalization of $1.23 billion, a P/E ratio of -54.31 and a beta of 0.30.

NGL Energy Partners (NYSE:NGL) last posted its earnings results on Tuesday, November 4th. The oil and gas company reported $0.02 EPS for the quarter. The company had revenue of $674.68 million during the quarter, compared to analysts’ expectations of $508.49 million. NGL Energy Partners had a net margin of 3.29% and a negative return on equity of 53.56%. On average, research analysts forecast that NGL Energy Partners LP will post -0.22 EPS for the current year.

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.