NGL Energy Partners (NYSE:NGL) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of NGL Energy Partners (NYSE:NGL) from a buy rating to a hold rating in a research report released on Monday.

NGL Energy Partners Trading Down 5.0 %

NGL Energy Partners stock opened at $2.83 on Monday. NGL Energy Partners has a 12 month low of $2.64 and a 12 month high of $6.08. The stock has a fifty day simple moving average of $4.26 and a two-hundred day simple moving average of $4.58. The firm has a market cap of $373.60 million, a price-to-earnings ratio of -1.12 and a beta of 1.24.

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

Insider Transactions at NGL Energy Partners

In other NGL Energy Partners news, CEO H Michael Krimbill acquired 15,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average price of $4.49 per share, with a total value of $67,350.00. Following the completion of the acquisition, the chief executive officer now owns 603,000 shares in the company, valued at $2,707,470. This represents a 2.55 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in NGL Energy Partners by 27.3% during the fourth quarter. Bank of America Corp DE now owns 6,812,752 shares of the oil and gas company’s stock valued at $33,996,000 after purchasing an additional 1,461,754 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of NGL Energy Partners by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,008,565 shares of the oil and gas company’s stock valued at $22,539,000 after acquiring an additional 154,098 shares during the period. Prescott Group Capital Management L.L.C. increased its holdings in NGL Energy Partners by 282.7% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 121,838 shares of the oil and gas company’s stock worth $608,000 after acquiring an additional 90,000 shares in the last quarter. Invesco Ltd. raised its stake in NGL Energy Partners by 0.4% during the 4th quarter. Invesco Ltd. now owns 19,647,133 shares of the oil and gas company’s stock worth $98,039,000 after acquiring an additional 85,000 shares during the period. Finally, Inscription Capital LLC bought a new position in shares of NGL Energy Partners in the first quarter worth approximately $182,000. 40.62% of the stock is currently owned by institutional investors.

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.