Congressman Mark Green, representing Tennessee’s 7th congressional district, made a significant move in the stock market, selling shares of NGL Energy Partners LP (NYSE:). The transaction was conducted within his equitable retirement account.
The sale, which took place on April 1, 2024, was notified to the authorities on April 4, 2024. The value of the shares sold by Green is between $100,001 and $250,000. The shares were common units representing the interests of limited partners in NGL Energy Partners LP.
NGL Energy Partners LP is a leading player in the energy sector, focused on the midstream segment. The company’s shares are listed on the New York Stock Exchange under the ticker NGL.
Green’s transaction was conducted within his Equitable Retirement Account, a type of investment vehicle often used by individuals to secure their financial future after retirement. It’s worth noting that this account allows for a diverse range of investments, including stocks, bonds, and mutual funds, among others.
Green’s stock sale represents a shift in his investment portfolio, although the specific reasons behind this move are not disclosed in the report. It is also not known whether Green intends to reinvest the proceeds from the sale in other assets or sectors.
This transaction complies with the STOCK Act, which requires members of Congress to disclose their stock transactions. The law is designed to ensure transparency and prevent any potential conflicts of interest.
As always, investors are encouraged to monitor the market activity of influential individuals like Green, as it can provide valuable insights into market trends and potential investment opportunities. However, it is important to conduct thorough research and consider a number of factors before making any investment decisions.
Insights on InvestingPro
Following Congressman Mark Green’s recent transaction involving NGL Energy Partners LP, InvestingPro’s key metrics and insights provide a deeper understanding of the company’s current market position. NGL Energy Partners LP has a market capitalization of $781.83 million, indicating its size and importance in the midstream energy sector.
Data from InvestingPro reveals that the company has seen a substantial price increase over the past six months, with a return of 50.88%, which aligns with the stock close to its 52-week high of 96.69% of this value. That might suggest why an investor like Green might see this as an opportune time to sell. Furthermore, the stock has shown a high return over the past year, with a total price return of 101.68%, potentially making it an attractive stock for those looking to capitalize on recent gains.
Despite these positive price movements, NGL Energy Partners LP is struggling with weak gross profit margins, currently at 14.12%, and analysts do not expect the company to be profitable this year. This could be a factor influencing investment decisions and portfolio adjustments.
For investors interested in gaining further insights into NGL Energy Partners LP, InvestingPro offers additional information InvestirePro Suggestions which could help you make informed decisions. There are currently 9 additional recommendations, including net income and profitability expectations, found at: https://www.investing.com/pro/NGL. For those considering a subscription to access this valuable information, please use the coupon code PRONEWS24 to get an additional 10% discount on the annual or biennial Pro and Pro+ subscription.
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