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NYSE · Utilities

NGL Energy Partners LP (NGL)

As-reported financials and SEC filings for NGL Energy Partners LP. The latest annual period is FY2026. The latest reported quarter is Q1 FY2027. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About NGL Energy Partners LP

NGL Energy Partners LP operates primarily in the energy infrastructure sector with three main segments: Water Solutions, Crude Oil Logistics, and Liquids Logistics. The Water Solutions segment handles the transportation, treatment, recycling, and disposal of produced water from oil and gas production, serving upstream producers. The Crude Oil Logistics segment purchases and transports crude oil to refineries and storage facilities, while the Liquids Logistics segment supplies natural gas liquids to commercial, retail, and industrial customers across the US and Canada.

Snapshot

Revenue
$3.16B
Revenue growth (YoY)
-9.0%
Net income
$-142.3M
Diluted EPS
Gross margin
30.9%
Operating margin
3.0%
Net margin
-4.5%
FCF margin
4.6%
ROE
net income / fiscal-year-end equity
P/E
trailing when available, otherwise FY EPS
Market cap
Long-term debt / equity
non-current term debt only

Fundamentals are from SEC filings for FY2026, the latest annual period (ended March 31, 2026). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at NGL Energy Partners

  • Revenue fell 9.0% to $3.2B in FY2026, after a 16.5% decline the year before.
  • Operating margin is 3.0% in FY2026, +2.0 pp against 1.0% in FY2022.
  • Most recent quarter Q1 FY2027: revenue $990M, up 59.1% from Q1 FY2026.
  • Free cash flow was $145M in FY2026, 4.6% of revenue.
  • Net income turned to a $142M loss in FY2026, from a $39M profit in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where NGL Energy Partners’s fundamentals sit among the 98 Utilities companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin30.9%
40th percentile of 26
Operating margin3.0%
12th percentile of 86
Net margin-4.5%
7th percentile of 91
FCF margin4.6%
68th percentile of 76
Revenue growth (YoY)-9.0%
4th percentile of 94
Short interest12.35d
96th percentile of 98

NGL Energy Partners’s revenue growth of -9.0% ranks in the 4th percentile of the 94 Utilities companies reporting it. NGL Energy Partners’s net margin of -4.5% ranks in the 7th percentile of the 91 Utilities companies reporting it. NGL Energy Partners’s operating margin of 3.0% ranks in the 12th percentile of the 86 Utilities companies reporting it.

6 reported insider purchases (code P) totaling $5.8M in the last 90 days, against 1 sale totaling $5.1M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 1 quant / multi-strat book among the superinvestors we track; no conviction manager currently reports a position.

Conviction investors
0
+1 quant / multi-strat
Initiated / added
1
0 new, 1 added
Reduced / exited
0
0 trimmed, 0 exited
Combined position
$3.1M
reported long value
InvestorAs ofPosition valueSharesChange
Citadel AdvisorsquantQ2 2026$3.1M193.5KAdded

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4. Multiple insiders have bought recently (a cluster buy).

Buys (90d)
6
2 insiders
Bought (90d)
$5.8M
code P value
Sells (90d)
1
$5.1M
Reported activity
Cluster buy
≥2 insiders buying
Trade dateInsiderTypeSharesPriceValue
2026-08-27
filed 2026-08-28
COLLINGSWORTH JAMES MDirectorBuy2.3K$17.00$39K
2026-08-26
COLLINGSWORTH JAMES MDirectorBuy200$16.96$3K
2026-08-25
filed 2026-08-26
KRIMBILL H MICHAELChief Executive OfficerSell300.0K$17.00$5.1M
2026-08-25
filed 2026-08-26
RAYMOND JOHN TDirectorBuy300.0K$16.98$5.1M
2026-08-25
filed 2026-08-26
COLLINGSWORTH JAMES MDirectorBuy10.8K$16.82$182K
2026-08-24
filed 2026-08-25
RAYMOND JOHN TDirectorBuy25.5K$16.22$414K
2026-08-21
filed 2026-08-25
RAYMOND JOHN TDirectorBuy1.1K$16.25$18K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
3.7M
settled 2026-08-14
Change vs prior
+1.9%
vs previous settlement
Days to cover
12.35
at avg daily volume
Avg daily volume
296.0K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-143.7M+1.9%12.35
2026-07-313.6M-5.2%21.53
2026-07-153.8M-3.7%24.30
2026-06-303.9M-7.6%13.01
2026-06-154.2M+8.7%13.89
2026-05-293.9M+4.2%8.64
2026-05-153.8M+2.4%14.19
2026-04-303.7M-12.1%16.36

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2026FY2025FY2024FY2023FY2022
Revenue$3.16B$3.47B$4.15B$5.68B$7.95B
Gross profit$974.0M$962.1M$967.9M$989.6M$808.6M
Operating income$94.7M$329.4M$161.9M$244.0M$83.0M
Net income$-142.3M$39.4M$-143.8M$51.4M$-184.8M
Diluted EPS

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2026FY2025FY2024FY2023FY2022
Cash and equivalents$8.5M$5.6M$38.9M$5.4M$3.8M
Current assets$774.0M$962.1M$1.18B$1.29B$1.55B
Total assets$4.18B$4.61B$5.02B$5.46B$6.07B
Current liabilities$739.5M$739.2M$977.3M$1.11B$1.28B
Long-term debt$3.22B$2.96B$2.84B$2.86B$3.35B
Total liabilities
Total equity

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2026FY2025FY2024FY2023FY2022
Operating cash flow$366.0M$297.5M$376.2M$445.2M$205.8M
Capital expenditure$221.3M$245.8M$152.3M$147.8M$142.4M
Free cash flow$144.7M$51.6M$223.9M$297.4M$63.5M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q1 FY2027$990.0M59.1%$78.7M
Q4 FY2026$949.5M-2.2%$-287.7M
Q3 FY2026$909.8M-7.4%$47.2M
Q2 FY2026$674.7M-10.8%$29.3M
Q1 FY2026$622.2M-18.1%$68.9M
Q4 FY2025$971.1M$13.7M
Q3 FY2025$982.4M-17.8%$13.5M
Q2 FY2025$756.5M-24.9%$2.5M

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorUtilities
SIC industryNatural Gas Transmission
Latest annual periodFY2026 (ended March 31, 2026)
Latest reported quarterQ1 FY2027 (ended June 30, 2026)
Oldest indexed filing2010
SEC CIK1504461

Selected SEC filings

10-K2026-05-28
View on EDGAR →
10-K2025-05-29
View on EDGAR →
10-Q2026-08-04
View on EDGAR →
10-Q2026-02-03
View on EDGAR →
10-Q2025-11-04
View on EDGAR →
10-Q2025-08-07
View on EDGAR →
8-K2026-03-12
View on EDGAR →
8-K2026-02-09
View on EDGAR →

Largest Utilities peers

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.