NGL Energy Partners LP $NGL Shares Acquired by ING Groep NV

ING Groep NV grew its holdings in NGL Energy Partners LP (NYSE:NGL) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,174,803 shares of the oil and gas company’s stock after purchasing an additional 243,000 shares during the quarter. ING Groep NV’s holdings in NGL Energy Partners were worth $51,748,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NGL. Goldman Sachs Group Inc. grew its position in shares of NGL Energy Partners by 3.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,248,614 shares of the oil and gas company’s stock valued at $23,829,000 after purchasing an additional 165,249 shares during the last quarter. Jump Financial LLC increased its position in NGL Energy Partners by 223.4% during the 2nd quarter. Jump Financial LLC now owns 224,779 shares of the oil and gas company’s stock worth $960,000 after purchasing an additional 155,279 shares in the last quarter. Angelo Gordon & CO. L.P. purchased a new stake in NGL Energy Partners during the 2nd quarter worth about $2,730,000. Bank of America Corp DE increased its position in NGL Energy Partners by 8.8% during the 2nd quarter. Bank of America Corp DE now owns 9,885,023 shares of the oil and gas company’s stock worth $42,209,000 after purchasing an additional 797,895 shares in the last quarter. Finally, Massar Capital Management LP increased its position in NGL Energy Partners by 23.2% during the 2nd quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company’s stock worth $120,000 after purchasing an additional 5,295 shares in the last quarter. 40.62% of the stock is currently owned by institutional investors and hedge funds.

NGL Energy Partners Trading Down 4.2%

NYSE NGL opened at $15.32 on Friday. The business’s 50-day moving average price is $15.14 and its 200 day moving average price is $12.28. NGL Energy Partners LP has a twelve month low of $3.64 and a twelve month high of $18.80. The company has a market capitalization of $1.91 billion, a PE ratio of -4.67 and a beta of 0.58.

NGL Energy Partners (NYSE:NGL) last released its earnings results on Thursday, May 28th. The oil and gas company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.89). NGL Energy Partners had a negative return on equity of 47.64% and a negative net margin of 4.51%.The business had revenue of $949.51 million for the quarter, compared to analysts’ expectations of $941.52 million. Equities analysts predict that NGL Energy Partners LP will post 0.82 EPS for the current year.

NGL Energy Partners declared that its Board of Directors has authorized a stock repurchase program on Thursday, April 9th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 6.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

NGL has been the subject of a number of recent research reports. Weiss Ratings cut NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Zacks Research raised shares of NGL Energy Partners from a “strong sell” rating to a “hold” rating in a research note on Friday, April 10th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

NGL Energy Partners Company Profile

NGL Energy Partners LP is a publicly traded master limited partnership that provides midstream infrastructure and marketing services for the energy industry. The company focuses on the transportation, storage, fractionation and marketing of natural gas liquids (NGLs) and refined petroleum products. Through its integrated operations, NGL Energy Partners serves producers, processors, refiners and industrial customers across key U.S. energy-producing regions.

The partnership’s asset base includes pipelines, storage terminals, fractionation plants, and distribution facilities.