NGL Energy Partners (NGL)
Providing water solutions and crude-oil logistics through a midstream MLP portfolio.
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Operates a midstream MLP combining water solutions with the transport, storage, blending, and marketing of crude oil and natural-gas liquids. Its acquisition-built portfolio is centered on Water Solutions, Crude Oil Logistics, and residual Liquids Logistics after asset sales.
Operating as a NYSE-listed master limited partnership, it provides Water Solutions and Crude Oil Logistics, with residual Liquids Logistics operations following 2025 asset sales. Its stated model combines water services with the transport, storage, blending, and marketing of crude oil and natural-gas liquids.
Built through acquisitions after a 2010 formation from propane and terminaling predecessors, the business expanded into crude-oil logistics and water solutions. The disposal of refined-products, biodiesel, and most wholesale-propane activities closed in 2025.
The latest reported operating frame centers on Water Solutions, Crude Oil Logistics, and residual liquids logistics.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
No analyst notes in the last 24 months.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $5.1M · Total debt $3.39B · Total assets $4.18B · Shareholders' equity $32.7M
- Revenue
- $990.0M
- Operating income
- $145.3M
- Net income
- $78.7M
No dividends on record.
| Institutions | 60.43% | 75.43M shares | |
|---|---|---|---|
| 95 holders · as of Jun 30, 2026 | |||
| Insiders | 18.61% | 23.23M shares | |
| 9 holders · as of Aug 28, 2026 | |||
| Other | 20.96% | 26.16M shares | |
| remainder | |||
124.81M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Invesco Ltd.Institution | 15.68% | 19.57M | as of Jun 30, 2026 |
EIG Neptune Equity Aggregator, L.P.Insider | 13.41% | 16.73M | filed Sep 4, 2020 |
OppenheimerFunds, Inc.Institution | 12.44% | 15.53M | filed Feb 5, 2018 |
Morgan StanleyInstitution | 8.16% | 10.18M | as of Jun 30, 2026 |
Goldman Sachs Group IncInstitution | 6.84% | 8.54M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 27, 2026 | James M. Collingsworth | director | +2,289 | $17.00 |
| Aug 26, 2026 | James M. Collingsworth | director | +200 | $16.96 |
| Aug 25, 2026 | James M. Collingsworth | director | +10,808 | $16.82 |
| Aug 25, 2026 | H. Michael Krimbill | director, officer: Chief Executive Officer | −300,000 | $17.00 |
| Aug 25, 2026 | John T. Raymond | director | +300,000 | $16.98 |
- Western Midstream Partners
Integrated Delaware Basin produced-water gathering, disposal and recycling
- Select Water Solutions
Delaware Basin produced-water recycling, disposal and pipeline rival
- Plains All American Pipeline
Crude-oil pipelines, storage and Cushing terminaling rival
- Enterprise Products Partners
Crude pipelines and NGL/crude terminaling across Texas and Cushing
- Energy Transfer
Crude-oil and NGL pipeline, storage and terminaling rival
- Targa Resources
NGL storage, terminaling and butane export rival
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| NGL Energy Partners | $16.05 | −0.62% | $2.02B | — | 12.7 | 0.6 | +59.1% |
| Western Midstream Partners | $46.17 | +0.23% | $19.03B | 14.4 | 12.0 | 4.4 | +30.0% |
| Select Water Solutions | $19.99 | −1.41% | $2.22B | 75.4 | 29.3 | 1.6 | +8.7% |
| Plains All American Pipeline | $24.61 | +0.24% | $17.32B | 6.8 | 14.5 | 0.3 | +66.3% |
| Enterprise Products Partners | $37.89 | −0.32% | $82.24B | 13.2 | 12.4 | 1.4 | +60.8% |
| Energy Transfer | $20.62 | +1.08% | $70.20B | 12.7 | 12.6 | 0.7 | +78.4% |
| Targa Resources | $287.66 | +1.95% | $60.56B | 26.9 | 25.6 | 3.6 | +10.3% |
| Median | 13.8 | 13.6 | 1.5 | +45.4% |