Biltmore Capital Advisors LLC lifted its stake in shares of NGL Energy Partners LP (NYSE:NGL) by 100.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 400,000 shares of the oil and gas company’s stock after purchasing an additional 200,000 shares during the period. NGL Energy Partners makes up about 1.5% of Biltmore Capital Advisors LLC’s holdings, making the stock its 22nd biggest position. Biltmore Capital Advisors LLC owned 0.32% of NGL Energy Partners worth $5,564,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in NGL. Oppenheimer & Co. Inc. acquired a new stake in shares of NGL Energy Partners in the 3rd quarter valued at about $141,000. California Public Employees Retirement System raised its stake in shares of NGL Energy Partners by 17.9% in the 3rd quarter. California Public Employees Retirement System now owns 215,257 shares of the oil and gas company’s stock valued at $2,994,000 after purchasing an additional 32,706 shares during the period. Usca Ria LLC acquired a new stake in shares of NGL Energy Partners in the 3rd quarter valued at about $28,000. Steward Partners Investment Advisory LLC raised its stake in shares of NGL Energy Partners by 28.8% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 4,777 shares of the oil and gas company’s stock valued at $66,000 after purchasing an additional 1,067 shares during the period. Finally, Coastal Investment Advisors Inc. raised its stake in shares of NGL Energy Partners by 33.3% in the 3rd quarter. Coastal Investment Advisors Inc. now owns 4,000 shares of the oil and gas company’s stock valued at $56,000 after purchasing an additional 1,000 shares during the period. 60.65% of the stock is currently owned by institutional investors.
In related news, CEO H Michael Krimbill acquired 60,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was bought at an average price of $12.72 per share, for a total transaction of $763,200.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director James M. Collingsworth acquired 6,250 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was bought at an average price of $13.25 per share, with a total value of $82,812.50. The disclosure for this purchase can be found here.
Shares of NYSE NGL traded down $0.07 during mid-day trading on Friday, hitting $10.41. The company had a trading volume of 2,177,547 shares, compared to its average volume of 897,183. The company has a market capitalization of $1.40 billion, a PE ratio of -8.26, a price-to-earnings-growth ratio of 5.40 and a beta of 1.08. The firm has a 50-day simple moving average of $12.42 and a two-hundred day simple moving average of $13.81. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 1.59. NGL Energy Partners LP has a one year low of $8.71 and a one year high of $15.71.
NGL Energy Partners (NYSE:NGL) last announced its quarterly earnings data on Thursday, August 8th. The oil and gas company reported ($0.96) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.89). The company had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $5.40 billion. NGL Energy Partners had a net margin of 1.54% and a negative return on equity of 1.15%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. Sell-side analysts expect that NGL Energy Partners LP will post 1.03 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 14.99%. The ex-dividend date is Wednesday, November 6th. NGL Energy Partners’s payout ratio is -123.81%.
Several analysts have issued reports on the company. Piper Jaffray Companies initiated coverage on NGL Energy Partners in a research note on Wednesday, July 17th. They issued a “neutral” rating and a $17.00 price target on the stock. ValuEngine upgraded NGL Energy Partners from a “strong sell” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research cut NGL Energy Partners from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, UBS Group cut NGL Energy Partners from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $17.00 to $13.50 in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. NGL Energy Partners presently has a consensus rating of “Hold” and a consensus price target of $15.75.
About NGL Energy Partners
NGL Energy Partners LP, together with its subsidiaries, engages in the crude oil logistics, water solutions, liquids, retail propane, and refined products and renewables businesses. 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; and provides storage, terminaling, trucking, marine, and pipeline transportation services.
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