In a recent congressional trade report, it was revealed that Mark Green, the congress member representing Tennessee's 7th congressional district, has made a significant transaction in the energy sector. The trade involved common units representing limited partner interests in NGL Energy Partners LP (NYSE:NGL).
The transaction, which took place on June 3, 2024, was reported to the authorities on June 11, 2024. The sale of stocks was valued in the range of $100,001 - $250,000, indicating a substantial investment by the congress member.
The stocks were held in Green's Equitable Retirement Account, a type of investment vehicle typically used for long-term savings and retirement planning. This type of account often includes a diverse range of investments, including stocks, bonds, and mutual funds.
NGL Energy Partners LP is a publicly-traded company that operates in the energy sector. It is involved in the transportation, storage, and wholesale marketing of crude oil and natural gas liquids, making it a significant player in the energy market.
This transaction comes amidst a period of fluctuating energy prices and shifting regulations in the energy sector. As always, investors are advised to carefully monitor the market and consider the potential risks and rewards of their investment decisions.
The congressional trade report serves as a public record of the financial activities of congress members. It provides transparency and insight into the investment decisions of those in public service. This report does not suggest any wrongdoing or insider trading; it merely records the transaction for public knowledge.
InvestingPro Insights
Following the revelation of Congressman Mark Green's transaction in NGL Energy Partners LP, current metrics from InvestingPro offer a deeper understanding of the company's financial health. As of the last twelve months ending Q4 2024, NGL Energy Partners LP had a market capitalization of $710.27 million USD, reflecting the size and scale of the company within the energy sector. Despite the company's significant revenue of $6.96 billion USD, it has experienced a notable decline, with revenue growth contracting by nearly 20%.
InvestingPro Tips indicate that NGL Energy Partners LP has been trading at a high Price / Book multiple of 5.29, which may suggest the market assigns a high value to the company's net assets. Additionally, the company's recent stock performance has been turbulent, with a price total return of -9.0% over the past week. These fluctuations could be of interest to investors considering the current volatility in the energy market.
For those looking to further assess the investment potential of NGL Energy Partners LP, additional analysis is available. There are 6 more InvestingPro Tips listed for NGL at Investing.com/pro/NGL, providing a comprehensive view of the company's financial landscape. To enhance your investment research on NGL or other stocks, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.