In a recent congressional trade report, it was revealed that Mark Green, the representative for Tennessee's 7th congressional district, has made a significant transaction involving NGL Energy Partners LP (NYSE:NGL). The transaction involved common units representing limited partner interests, a type of stock, which was sold.
The trade took place on April 25th, 2024, with the notification date listed as April 30th, 2024. The dollar value of the trade falls within the range of $100,001 to $250,000. This considerable sum highlights the scale of the transaction and its potential impact on Green's portfolio.
The transaction was conducted through an Equitable Retirement Account. Retirement accounts are commonly used by individuals to accumulate savings for their retirement years, often with the benefit of tax advantages. It's worth noting that the use of such an account for this transaction could potentially impact Green's retirement savings.
NGL Energy Partners LP is a publicly traded partnership that operates a vertically integrated energy business. The company's segments include crude oil logistics, water solutions, liquids, retail propane, and refined products and renewables.
This trade by Green provides a glimpse into the investment activities of one of Tennessee's representatives. As always, it's important for investors to stay informed about the financial activities of influential individuals, as these activities can sometimes provide insight into broader market trends or sector performance.
The transaction has been certified as true, complete, and correct to the best of Green's knowledge and belief, in accordance with the requirements of the STOCK Act.
InvestingPro Insights
As investors digest the news of Representative Mark Green's transaction involving NGL Energy Partners LP, current metrics and analysis from InvestingPro offer a broader context on the company's performance and outlook. With a market capitalization of approximately $779.84 million, NGL Energy Partners LP presents itself as a mid-sized player in the energy sector. The company's trading patterns have been characterized by low price volatility, which may appeal to investors seeking stability.
InvestingPro Tips suggest that while NGL has experienced a high return over the last year with an impressive 114.13% price total return, analysts are cautious about its profitability in the near term. Notably, the company does not pay dividends, which could be a factor for income-focused investors to consider. Moreover, NGL's gross profit margins have been weak at 14.12%, underscoring potential concerns about the company's ability to turn revenues into profits. Nonetheless, NGL has seen a large price uptick of 41.73% over the last six months, trading near its 52-week high, which could indicate investor optimism or sector-specific trends.
With respect to earnings, the P/E ratio stands at -9.89, reflecting market skepticism about future earnings potential. Additionally, the company is expected to release its next earnings report on May 29, 2024, which will be a critical date for investors to gauge the company's fiscal health and strategic direction. For those seeking more in-depth analysis, InvestingPro has additional tips available that could provide further insights into NGL Energy Partners LP's financials and market position. By using the coupon code PRONEWS24, investors can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, granting access to a comprehensive suite of tools and data to inform their investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.