Driehaus Capital Management LLC purchased a new position in NGL Energy Partners (NYSE:NGL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 67,920 shares of the oil and gas company’s stock, valued at approximately $954,000. Driehaus Capital Management LLC owned about 0.06% of NGL Energy Partners as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of the stock. OppenheimerFunds Inc. boosted its holdings in shares of NGL Energy Partners by 1.3% in the 4th quarter. OppenheimerFunds Inc. now owns 15,526,215 shares of the oil and gas company’s stock worth $218,144,000 after buying an additional 204,685 shares during the last quarter. Alps Advisors Inc. bought a new stake in NGL Energy Partners in the 4th quarter valued at about $130,044,000. Harvest Fund Advisors LLC raised its stake in NGL Energy Partners by 6.8% in the 3rd quarter. Harvest Fund Advisors LLC now owns 7,090,961 shares of the oil and gas company’s stock valued at $81,901,000 after acquiring an additional 449,855 shares during the period. Advisory Research Inc. raised its stake in NGL Energy Partners by 57.7% in the 4th quarter. Advisory Research Inc. now owns 3,611,015 shares of the oil and gas company’s stock valued at $50,735,000 after acquiring an additional 1,320,600 shares during the period. Finally, HITE Hedge Asset Management LLC raised its stake in NGL Energy Partners by 414.8% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 2,818,082 shares of the oil and gas company’s stock valued at $32,549,000 after acquiring an additional 2,270,714 shares during the period. 65.62% of the stock is currently owned by institutional investors.
In related news, CEO H Michael Krimbill purchased 30,000 shares of the firm’s stock in a transaction dated Friday, March 16th. The shares were purchased at an average cost of $11.22 per share, for a total transaction of $336,600.00. Following the completion of the transaction, the chief executive officer now directly owns 844,417 shares in the company, valued at approximately $9,474,358.74. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.
A number of equities research analysts recently issued reports on NGL shares. Stifel Nicolaus set a $11.00 price objective on NGL Energy Partners and gave the company a “hold” rating in a research note on Wednesday, March 14th. UBS restated a “buy” rating and issued a $17.00 price objective (down from $17.50) on shares of NGL Energy Partners in a research note on Friday, March 2nd. Credit Suisse Group started coverage on NGL Energy Partners in a research note on Thursday, January 4th. They issued an “outperform” rating and a $16.00 price objective on the stock. Zacks Investment Research upgraded NGL Energy Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, ValuEngine upgraded NGL Energy Partners from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.80.
Shares of NGL opened at $10.80 on Friday. NGL Energy Partners has a twelve month low of $8.57 and a twelve month high of $22.05. The stock has a market cap of $1,325.87, a PE ratio of 11.37 and a beta of 1.03. The company has a current ratio of 1.69, a quick ratio of 1.14 and a debt-to-equity ratio of 1.64.
NGL Energy Partners (NYSE:NGL) last announced its quarterly earnings results on Friday, February 9th. The oil and gas company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.13. NGL Energy Partners had a negative return on equity of 1.85% and a negative net margin of 0.97%. The firm had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $3.96 billion. sell-side analysts predict that NGL Energy Partners will post -0.66 earnings per share for the current fiscal year.
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NGL Energy Partners Profile
NGL Energy Partners LP, through its subsidiaries, engages in the crude oil logistics, water solutions, liquids, retail propane, and refined products and renewables businesses in the United States. The Crude Oil Logistics segment purchases crude oil from producers and transports it to refineries for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs.
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