NGL Energy Partners LP $NGL Shares Acquired by Angelo Gordon & CO. L.P.

Angelo Gordon & CO. L.P. grew its holdings in shares of NGL Energy Partners LP (NYSE:NGL) by 291.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,504,447 shares of the oil and gas company’s stock after purchasing an additional 1,865,003 shares during the period. NGL Energy Partners makes up about 1.8% of Angelo Gordon & CO. L.P.’s portfolio, making the stock its 18th biggest holding. Angelo Gordon & CO. L.P. owned about 1.99% of NGL Energy Partners worth $15,027,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its stake in NGL Energy Partners by 3.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,248,614 shares of the oil and gas company’s stock worth $23,829,000 after buying an additional 165,249 shares during the last quarter. AlphaCore Capital LLC raised its stake in NGL Energy Partners by 28.0% in the second quarter. AlphaCore Capital LLC now owns 160,000 shares of the oil and gas company’s stock valued at $683,000 after buying an additional 35,000 shares during the last quarter. CreativeOne Wealth LLC boosted its holdings in NGL Energy Partners by 15.7% in the second quarter. CreativeOne Wealth LLC now owns 17,700 shares of the oil and gas company’s stock worth $76,000 after acquiring an additional 2,400 shares in the last quarter. Jump Financial LLC boosted its holdings in NGL Energy Partners by 223.4% in the second quarter. Jump Financial LLC now owns 224,779 shares of the oil and gas company’s stock worth $960,000 after acquiring an additional 155,279 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of NGL Energy Partners by 8.8% during the second 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 acquiring an additional 797,895 shares during the last quarter. Institutional investors and hedge funds own 40.62% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Zacks Research downgraded shares of NGL Energy Partners from a “hold” rating to a “strong sell” rating in a report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of NGL Energy Partners in a research note on Wednesday, January 28th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, NGL Energy Partners has a consensus rating of “Reduce”.

NGL Energy Partners Stock Up 2.0%

NYSE:NGL opened at $11.22 on Friday. NGL Energy Partners LP has a 52 week low of $2.64 and a 52 week high of $13.00. The stock’s 50-day moving average price is $11.20 and its 200-day moving average price is $8.99. The stock has a market capitalization of $1.39 billion, a PE ratio of 280.57 and a beta of 0.34.

NGL Energy Partners (NYSE:NGL) last released its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). The business had revenue of $909.82 million during the quarter, compared to analyst estimates of $700.76 million. NGL Energy Partners had a negative return on equity of 66.52% and a net margin of 5.01%. Sell-side analysts expect that NGL Energy Partners LP will post -0.22 earnings per share for the current fiscal year.

About NGL Energy Partners

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.