Morgan Stanley increased its position in shares of NGL ENERGY PART (NYSE:NGL) by 21.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,544,782 shares of the company’s stock after buying an additional 627,232 shares during the period. Morgan Stanley owned about 3.36% of NGL ENERGY PART worth $66,784,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC increased its stake in NGL ENERGY PART by 110.4% in the third quarter. Proficio Capital Partners LLC now owns 9,934 shares of the company’s stock worth $187,000 after buying an additional 5,212 shares during the last quarter. Penn Capital Management Co. Inc. bought a new stake in NGL ENERGY PART during the second quarter worth about $209,000. Oppenheimer & Co. Inc. increased its stake in NGL ENERGY PART by 3.8% in the third quarter. Oppenheimer & Co. Inc. now owns 10,950 shares of the company’s stock worth $206,000 after buying an additional 400 shares during the last quarter. Americafirst Capital Management LLC bought a new stake in NGL ENERGY PART during the third quarter worth about $232,000. Finally, Wade G W & Inc. increased its stake in NGL ENERGY PART by 13.2% in the third quarter. Wade G W & Inc. now owns 13,117 shares of the company’s stock worth $247,000 after buying an additional 1,532 shares during the last quarter. Hedge funds and other institutional investors own 68.77% of the company’s stock.
NGL ENERGY PART (NYSE:NGL) opened at 23.15 on Thursday. The stock’s 50 day moving average is $20.26 and its 200-day moving average is $18.86. The firm’s market capitalization is $2.49 billion. NGL ENERGY PART has a 52-week low of $5.57 and a 52-week high of $24.00.
NGL ENERGY PART (NYSE:NGL) last issued its earnings results on Friday, November 4th. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.58. The business earned $3.05 billion during the quarter, compared to analyst estimates of $2.97 billion. NGL ENERGY PART had a negative net margin of 0.85% and a positive return on equity of 9.70%. Equities analysts expect that NGL ENERGY PART will post $2.02 earnings per share for the current year.
A number of research firms recently issued reports on NGL. RBC Capital Markets restated a “buy” rating and issued a $21.00 target price on shares of NGL ENERGY PART in a report on Friday, January 6th. Stifel Nicolaus reduced their price target on shares of NGL ENERGY PART from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. Zacks Investment Research raised shares of NGL ENERGY PART from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 8th. Raymond James Financial Inc. raised shares of NGL ENERGY PART from a “market perform” rating to an “outperform” rating and set a $24.00 price target on the stock in a research report on Thursday, January 12th. Finally, Bank of America Corp. raised shares of NGL ENERGY PART from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Tuesday, December 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. NGL ENERGY PART currently has a consensus rating of “Buy” and an average target price of $17.60.
In other NGL ENERGY PART news, CEO H Michael Krimbill bought 30,000 shares of the company’s stock in a transaction dated Tuesday, November 15th. The shares were bought at an average price of $18.13 per share, for a total transaction of $543,900.00. Following the acquisition, the chief executive officer now directly owns 789,417 shares of the company’s stock, valued at $14,312,130.21. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James M. Collingsworth bought 20,000 shares of the company’s stock in a transaction dated Monday, November 14th. The stock was acquired at an average price of $17.52 per share, for a total transaction of $350,400.00. The disclosure for this purchase can be found here.
NGL ENERGY PART Company Profile
NGL Energy Partners LP owns and operates a vertically integrated energy business. The Company’s segments are crude oil logistics, water solutions, liquids, retail propane, refined products and renewables, and corporate and other. Its crude oil logistics segment includes owned and leased crude oil storage terminals, and owned and leased pipeline injection stations.
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