H Michael Krimbill Sells 300,000 Shares of NGL Energy Partners (NYSE:NGL) Stock

NGL Energy Partners LP (NYSE:NGL) CEO H Michael Krimbill sold 300,000 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $17.00, for a total value of $5,100,000.00. Following the sale, the chief executive officer owned 3,378,615 shares of the company’s stock, valued at $57,436,455. This trade represents a 8.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

NGL Energy Partners Price Performance

Shares of NGL traded down $0.38 during trading hours on Wednesday, hitting $17.13. 198,068 shares of the company were exchanged, compared to its average volume of 298,933. The company has a market capitalization of $2.14 billion, a PE ratio of -6.03 and a beta of 0.63. The firm has a fifty day simple moving average of $16.12 and a 200-day simple moving average of $14.73. NGL Energy Partners LP has a one year low of $5.01 and a one year high of $18.80.

NGL Energy Partners (NYSE:NGL) last announced its earnings results on Tuesday, August 4th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.37. NGL Energy Partners had a negative return on equity of 39.51% and a negative net margin of 3.76%.The company had revenue of $989.99 million for the quarter, compared to analyst estimates of $346.13 million. Sell-side analysts expect that NGL Energy Partners LP will post 1.38 EPS for the current year.

Institutional Trading of NGL Energy Partners

Several hedge funds and other institutional investors have recently modified their holdings of NGL. CIBC Private Wealth Group LLC purchased a new position in shares of NGL Energy Partners during the third quarter valued at $70,000. CIBC Bancorp USA Inc. purchased a new stake in NGL Energy Partners in the 3rd quarter worth about $70,000. Massar Capital Management LP lifted its stake in NGL Energy Partners by 23.2% in the 2nd quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company’s stock worth $120,000 after acquiring an additional 5,295 shares in the last quarter. LPL Financial LLC acquired a new stake in NGL Energy Partners during the 4th quarter worth about $120,000. Finally, State of Wyoming boosted its position in NGL Energy Partners by 184.0% during the 2nd quarter. State of Wyoming now owns 32,202 shares of the oil and gas company’s stock worth $138,000 after acquiring an additional 20,864 shares during the period. Institutional investors and hedge funds own 40.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings downgraded NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Wall Street Zen upgraded shares of NGL Energy Partners from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Zacks Research raised shares of NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

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.