NGL Energy Partners LP (NGL) may enjoy gains as insiders got busy in the recent days

CHWY Stock
CHWY Stock

NGL Energy Partners LP’s filing revealed that its CFO & EVP Cooper Bradley P acquired Company’s shares for reported $0.14 million on Feb 14. In the deal valued at $2.79 per share,50,000 shares were bought. As a result of this transaction, Cooper Bradley P now holds 200,000 shares worth roughly $ 0.71 million.

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Then, KRIMBILL H MICHAEL bought 50,000 shares, generating $53,700 in total proceeds. Upon buying the shares at $1.07, the Chief Executive Officer now owns 2,938,615 shares.

Before that, REINERS DEREK S bought 25,000 shares. NGL Energy Partners LP shares valued at $26,940 were divested by the Director at a price of $1.08 per share. As a result of the transaction, REINERS DEREK S now holds 101,000 shares, worth roughly $0.36 million.

UBS upgraded its NGL Energy Partners LP [NGL] rating to a Neutral from a a Sell in a research note published on Friday, February 18, 2021; the price target was increased to $3 from $2. PT values the company’s stock at a premium of -17.67 to its Friday closing price. A number of analysts have revised their coverage, including UBS’s analysts, who decreased its forecast for the stock in mid October from “a Neutral” to “a Sell”. Wells Fargo also remained covering NGL and has decreased its forecast on July 22, 2020 with a “an Underweight” recommendation from previously “an Equal weight” rating. Credit Suisse revised its rating on April 02, 2020. It rated NGL as “an Underperform” which previously was an “a Neutral”.

Price Performance Review of NGL

On Friday, NGL Energy Partners LP [NYSE:NGL] saw its stock fall -0.56% to $3.53. On the same session, the stock had its day’s lowest price of $3.49, but rose to a high of $3.66. Over the last five days, the stock has gained 26.98%. NGL Energy Partners LP shares have risen nearly 191.74% since the year began. Nevertheless, the stocks have risen 54.82% over the past one year. While a 52-week high of $3.70 was reached on 03/01/23, a 52-week low of $1.00 was recorded on 01/03/23. SMA at 50 days reached $1.88, while 200 days put it at $1.59. A total of 0.86 million shares were traded, compared to the trading of 1.15 million shares in the previous session.

Levels Of Support And Resistance For NGL Stock

The 24-hour chart illustrates a support level at 3.46, which if violated will result in even more drops to 3.39. On the upside, there is a resistance level at 3.63. A further resistance level may holdings at 3.73. The Relative Strength Index (RSI) on the 14-day chart is 82.49, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.61, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 10.97%. Stochastics %K at 90.94% indicates the stock is a selling.

How much short interest is there in NGL Energy Partners LP?

A steep rise in short interest was recorded in NGL Energy Partners LP stocks on Jan 12, 2023, dropping by -0.21 million shares to a total of 0.48 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 0.68 million shares. There was a decline of -43.36%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.55% of the overall stock float, the days-to-cover ratio (short ratio) fell to 0.62.

NGL Energy Partners LP [NGL] – Who Are The Largest Shareholders?

In filings from Invesco Advisers, Inc., it is revealed that the company now owns 19,717,009 shares, or roughly 15.09% of the outstanding NGL shares. Additionally, JPMorgan Securities LLC increased 68.51% of its stake after which the total value it holdings stand at $7,767,631. Over the last quarter, Goldman Sachs & Co. LLC sold -228,407 shares of NGL Energy Partners LP, while GSA Capital Partners LLP sold -209,918 shares. At present, Wells Fargo Bank, NA is holding 301,260 shares valued at $0.49 million. NBW Capital LLC owned 273,410 shares of the company at the time of its most recent 13F filing, worth $0.45 million.

According to FactSet, NGL Energy Partners LP’s share price will average $2.50 in the next year, based on opinions of analysts polled by the firm. This is down nearly -29.58 percent from its previous closing price of $3.55. Analysts expect NGL Energy Partners LP stock to reach the higher price of $3.00, while the lowest price estimate is $2.00. However, 3 analysts have rated NGL stock as an Underweight in their predictions for 2023.


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