Invesco Amends NGL Energy Partners LP Stake, Signals Continued Interest

TL;DR

**Invesco updated its NGL Energy Partners LP stake, showing continued institutional interest.**

AI Summary

Invesco Ltd. filed an amended Schedule 13G/A on February 12, 2024, indicating a change in its beneficial ownership of NGL Energy Partners LP's Partnership Interests as of December 29, 2023. This filing, an amendment number 4, shows that Invesco continues to hold a significant stake, which is important for investors as large institutional holdings can influence stock stability and future strategic decisions. This matters to current or potential NGL Energy Partners LP stockholders because Invesco's continued involvement suggests a long-term interest, but any future reduction in their stake could signal a shift in sentiment or strategy, potentially impacting the stock price.

Why It Matters

Large institutional ownership by firms like Invesco can provide stability and confidence in a stock, but changes in their holdings can also signal shifts in market sentiment or company outlook.

Risk Assessment

Risk Level: low — This filing is a routine update of an existing significant stake, not a new position or a drastic change, indicating low immediate risk.

Analyst Insight

Investors should monitor future 13G/A filings from Invesco Ltd. to track any significant changes in their ownership percentage, as this could signal a shift in their investment thesis for NGL Energy Partners LP.

Key Players & Entities

• Invesco Ltd. (company) — the reporting person filing the SC 13G/A
• NGL Energy Partners LP (company) — the subject company whose securities are being reported
• December 29, 2023 (date) — the date of the event requiring the filing
• February 12, 2024 (date) — the filing date of the SC 13G/A
• 62913M107 (other) — the CUSIP number for NGL Energy Partners LP's Partnership Interest

Forward-Looking Statements

• Invesco Ltd. will maintain a significant stake in NGL Energy Partners LP for the foreseeable future. (Invesco Ltd.) — medium confidence, target: December 2024

FAQ

Filing Documents

• SEC13G_Filing.htm (SC 13G/A) — 16KB
• 0000914208-24-000164.txt ( ) — 18KB

From the Filing

SC 13G/A 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 4 ) * NGL Energy Partners LP (Name of Issuer) Partnership Interest (Title of Class of Securities) 62913M107 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. 62913M107 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Invesco Ltd. 98-0557567 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Bermuda NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 19,562,133 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 19,562,133 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 19,562,133 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 14.8% 12. TYPE OF REPORTING PERSON HC, IA Item 1. (a) Name of Issuer NGL Energy Partners LP (b) Address of Issuer's Principal Executive Offices 6120 South Yale Avenue, Suite 805, Tulsa, OK 74136 Item 2. (a) Name of Person Filing Invesco Ltd. ("Invesco Ltd.") (b) Address of Principal Business Office or, if None, Residence 1331 Spring Street NW, Suite 2500, Atlanta, GA 30309 (c) Citizenship Bermuda (d) Title of Class of Securities Partnership Interest (e) CUSIP Number 62913M107 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment Company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [X] An investment adviser in accordance with Rule 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 240.13d-1(b)(1)(ii)(F); (g) [X] A parent holding company or control person in accordance with Rule 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(J). Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount Beneficially Owned: Invesco Ltd. , in its capacity as a parent holding company to its investment advisers, may be deemed to beneficially own 19,562,133 shares of the Issuer which are held of record by clients of Invesco Ltd. . (b) Percent of Class: 14.8% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote 19,562,133 (ii) shared power to vote or to direct the vote 0 (iii) sole power to dispose or to direct the disposition of 19,562,133 (iv) shared power to dispose or to direct the disposition of 0 Item 5. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following: [ ] Item 6. Invesco Advisers, Inc. is a subsidiary of Invesco Ltd. and it advises the Invesco SteelPath MLP Select 40 Fund which owns 5.42% of the security reported herein. Invesco Advisers, Inc. is a subsidiary of Invesco Ltd. and it advises the Invesco SteelPath MLP Income Fund which owns 9.41% of the security reported herein. However, no one individual has greater than 5% economic ownership. The shareholders of the Fund have the right to receive or the power to direct the receipt of dividends and proceeds from the sale of securities li

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View this SC 13G/A filing on SEC EDGAR