JPMorgan Chase & Co. Sells 133,035 Shares of NGL Energy Partners LP (NYSE:NGL)

JPMorgan Chase & Co. lessened its stake in shares of NGL Energy Partners LP (NYSE:NGL - Free Report) by 2.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,875,530 shares of the oil and gas company's stock after selling 133,035 shares during the period. JPMorgan Chase & Co. owned about 3.69% of NGL Energy Partners worth $24,329,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. XTX Topco Ltd acquired a new stake in shares of NGL Energy Partners during the third quarter valued at approximately $46,000. Raymond James Financial Inc. acquired a new stake in NGL Energy Partners during the 4th quarter valued at $55,000. one8zero8 LLC purchased a new stake in shares of NGL Energy Partners in the fourth quarter valued at $58,000. Van ECK Associates Corp boosted its position in shares of NGL Energy Partners by 42.4% in the fourth quarter. Van ECK Associates Corp now owns 31,672 shares of the oil and gas company's stock worth $158,000 after buying an additional 9,426 shares during the period. Finally, Tidal Investments LLC grew its holdings in shares of NGL Energy Partners by 33.3% during the third quarter. Tidal Investments LLC now owns 35,527 shares of the oil and gas company's stock valued at $160,000 after buying an additional 8,877 shares in the last quarter. 40.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded NGL Energy Partners from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th.

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NGL Energy Partners Price Performance

NGL traded down $0.13 on Tuesday, reaching $3.00. 221,276 shares of the company traded hands, compared to its average volume of 493,742. The company has a market cap of $395.38 million, a price-to-earnings ratio of -1.19 and a beta of 1.24. The stock's 50 day moving average price is $4.47 and its 200-day moving average price is $4.63. NGL Energy Partners LP has a 52-week low of $2.80 and a 52-week high of $6.08.

NGL Energy Partners (NYSE:NGL - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The oil and gas company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.25). NGL Energy Partners had a negative net margin of 3.57% and a negative return on equity of 29.77%. As a group, equities research analysts forecast that NGL Energy Partners LP will post -0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO H Michael Krimbill purchased 15,000 shares of NGL Energy Partners stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $4.49 per share, for a total transaction of $67,350.00. Following the acquisition, the chief executive officer now directly owns 603,000 shares in the company, valued at $2,707,470. This represents a 2.55 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

NGL Energy Partners Company Profile

NGL Energy Partners LP engages in the transportation, storage, blending, and marketing of crude oil, natural gas liquids, refined products / renewables, and water solutions. The company operates in three segments: Water Solutions, Crude Oil Logistics, and Liquids Logistics. The Water Solutions segment transports, treats, recycles, and disposes produced and flowback water generated from oil and natural gas production; aggregates and sells recovered crude oil; disposes solids, such as tank bottoms, and drilling fluid and muds, as well as performs truck and frac tank washouts; and sells produced water for reuse and recycle, and brackish non-potable water.