In a recent transaction, Mark Green, the congressional representative from Tennessee's 7th district, sold stocks of NGL Energy Partners LP (NYSE:NGL). The transaction took place on August 28, 2024, and was officially reported on September 5, 2024.
The stocks were held in Green's Equitable Advisors Investment Account, and the sale's total value fell in the range of $50,001 to $100,000. While the exact amount remains undisclosed, the transaction's value indicates a significant change in Green's investment portfolio.
NGL Energy Partners LP is a renowned company in the energy sector, offering diverse services like transporting, storing, and marketing oil and natural gas. The company's stocks, represented by Common Units, were the asset sold in this transaction.
This move by Green is noteworthy given his position as a member of Congress. The STOCK Act requires all members to disclose their transactions to maintain transparency and avoid conflicts of interest. As such, Green's sale of NGL Energy Partners LP's stocks has been fully disclosed and certified as required by the Act.
Green's investment decisions, like those of other Congress members, are closely watched by the investment community. While the reasons behind this particular sale remain undisclosed, it provides an insight into the financial moves being made in the political sphere.
InvestingPro Insights
Following the recent stock sale by Congressman Mark Green, investors and market observers may be keen to understand the current financial health and market performance of NGL Energy Partners LP. According to InvestingPro data, NGL Energy Partners LP has a market capitalization of approximately $593.66 million, reflecting the size of the company in the energy sector. Despite a significant return over the last week with a price total return of 8.45%, the company's financial metrics raise some concerns.
InvestingPro Tips indicate that NGL Energy Partners LP is currently not profitable, with a negative P/E ratio of -2.06 for the last twelve months as of Q1 2023, and an adjusted P/E ratio of -62.73. This suggests that the company has been facing challenges in generating earnings relative to its share price. Additionally, the company's gross profit margin stands at 14.37%, which is considered weak, potentially indicating cost management or pricing issues within its operations.
Moreover, the company does not provide a dividend to shareholders, which can be a significant factor for income-focused investors. With these insights, those interested in the energy sector or in NGL Energy Partners LP's stock specifically can make more informed decisions. For additional insights and tips, InvestingPro offers more detailed analyses, with a total of 4 InvestingPro Tips available for NGL Energy Partners LP at https://www.investing.com/pro/NGL.
Investors are encouraged to review these metrics and tips as part of their broader research, considering the potential implications of a congressman's stock sale and the company's current financial standing.
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