NGL Energy Partners Target of Unusually Large Options Trading (NGL)

NGL Energy Partners LP (NYSE:NGL) was the recipient of some unusual options trading activity on Monday. Traders acquired 848 put options on the stock. This represents an increase of 864% compared to the average daily volume of 88 put options.

In other news, Director John T. Raymond purchased 50,000 shares of the stock in a transaction dated Friday, September 14th. The stock was acquired at an average cost of $11.04 per share, for a total transaction of $552,000.00. Following the completion of the acquisition, the director now directly owns 50,000 shares in the company, valued at approximately $552,000. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO H Michael Krimbill purchased 20,000 shares of the stock in a transaction dated Friday, August 31st. The shares were purchased at an average price of $11.65 per share, with a total value of $233,000.00. The disclosure for this purchase can be found here.

A number of institutional investors have recently added to or reduced their stakes in NGL. BNP Paribas Arbitrage SA grew its holdings in 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 valued at $265,000 after purchasing an additional 9,986 shares during the period. Northwestern Mutual Investment Management Company LLC acquired a new position in NGL Energy Partners during the first quarter valued at approximately $3,775,000. UBS Group AG lifted its position in NGL Energy Partners by 2.3% during the first quarter. UBS Group AG now owns 2,564,301 shares of the oil and gas company’s stock valued at $28,207,000 after buying an additional 57,415 shares in the last quarter. Guggenheim Capital LLC lifted its position in NGL Energy Partners by 837.2% during the first quarter. Guggenheim Capital LLC now owns 285,269 shares of the oil and gas company’s stock valued at $3,138,000 after buying an additional 254,830 shares in the last quarter. Finally, Hilltop Holdings Inc. acquired a new position in NGL Energy Partners during the first quarter valued at approximately $121,000. Hedge funds and other institutional investors own 63.34% of the company’s stock.

NGL Energy Partners stock opened at $11.13 on Tuesday. NGL Energy Partners has a 1 year low of $10.00 and a 1 year high of $17.65. The company has a market capitalization of $1.42 billion, a P/E ratio of -16.37 and a beta of 1.16. The company has a quick ratio of 1.59, a current ratio of 2.14 and a debt-to-equity ratio of 1.63.

NGL Energy Partners (NYSE:NGL) last released its earnings results on Tuesday, August 7th. The oil and gas company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $4.53 billion. On average, research analysts predict that NGL Energy Partners will post -0.44 earnings per share for the current year.

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus lifted their price target on shares of NGL Energy Partners from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Tuesday, August 14th. TheStreet upgraded shares of NGL Energy Partners from a “d+” rating to a “c-” rating in a report on Monday, June 25th. ValuEngine upgraded shares of NGL Energy Partners from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. Bank of America lowered their target price on shares of NGL Energy Partners from $15.00 to $13.00 and set a “buy” rating for the company in a report on Monday, October 1st. Finally, Wells Fargo & Co lowered their target price on shares of NGL Energy Partners from $15.00 to $14.00 and set a “market perform” rating for the company in a report on Thursday, September 13th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $14.14.

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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