Centaurus Financial Inc. Acquires New Position in NGL Energy Partners LP (NYSE:NGL)
Centaurus Financial Inc. bought a new position in shares of NGL Energy Partners LP (NYSE:NGL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,670 shares of the oil and gas company’s stock, valued at approximately $246,000.
Other large investors also recently bought and sold shares of the company. Hilltop Holdings Inc. purchased a new stake in shares of NGL Energy Partners during the first quarter worth $121,000. Kayne Anderson Capital Advisors LP purchased a new stake in shares of NGL Energy Partners in the second quarter worth $125,000. Russell Investments Group Ltd. purchased a new stake in shares of NGL Energy Partners in the second quarter worth $166,000. BNP Paribas Arbitrage SA raised its position in shares of NGL Energy Partners by 70.7% in the first quarter. BNP Paribas Arbitrage SA now owns 24,106 shares of the oil and gas company’s stock worth $265,000 after buying an additional 9,986 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of NGL Energy Partners in the second quarter worth $284,000. Hedge funds and other institutional investors own 63.34% of the company’s stock.
In other news, CEO H Michael Krimbill purchased 20,000 shares of the stock in a transaction on Friday, August 31st. The shares were acquired at an average price of $11.65 per share, for a total transaction of $233,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John T. Raymond purchased 50,000 shares of the stock in a transaction on Friday, September 14th. The shares were purchased at an average price of $11.04 per share, for a total transaction of $552,000.00. Following the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at $552,000. The disclosure for this purchase can be found here.
NGL Energy Partners (NYSE:NGL) last released its quarterly earnings results on Tuesday, August 7th. The oil and gas company reported ($1.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.93). NGL Energy Partners had a negative net margin of 1.01% and a negative return on equity of 0.54%. The firm had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $4.53 billion. On average, sell-side analysts forecast that NGL Energy Partners LP will post -0.44 EPS for the current fiscal year.
A number of equities research analysts recently issued reports on NGL shares. Wells Fargo & Co lowered their price objective on NGL Energy Partners from $15.00 to $14.00 and set a “market perform” rating on the stock in a research report on Thursday, September 13th. ValuEngine downgraded NGL Energy Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Stifel Nicolaus increased their price objective on NGL Energy Partners from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, August 14th. Bank of America started coverage on NGL Energy Partners in a research report on Tuesday, July 10th. They issued a “buy” rating and a $15.00 price objective on the stock. Finally, TheStreet upgraded NGL Energy Partners from a “d+” rating to a “c-” rating in a research report on Monday, June 25th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $14.00.
NGL Energy Partners Company Profile
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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