NGL Energy Partners (NYSE:NGL) Trading 5.3% Higher – Time to Buy?

NGL Energy Partners LP (NYSE:NGL) was up 5.3% during mid-day trading on Tuesday . The stock traded as high as $4.63 and last traded at $4.67. Approximately 236,582 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 356,367 shares. The stock had previously closed at $4.43.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of NGL Energy Partners from a “buy” rating to a “hold” rating in a research note on Monday, April 21st.

NGL Energy Partners Stock Up 5.1%

The stock’s 50 day moving average is $3.35 and its two-hundred day moving average is $4.32. The company has a market capitalization of $614.52 million, a PE ratio of -1.85 and a beta of 0.36.

NGL Energy Partners (NYSE:NGL) last announced its earnings results on Thursday, May 29th. The oil and gas company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. The business had revenue of $971.07 million during the quarter, compared to the consensus estimate of $1.05 billion. NGL Energy Partners had a negative net margin of 3.57% and a negative return on equity of 29.77%. On average, sell-side analysts predict that NGL Energy Partners LP will post -0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On NGL Energy Partners

Large investors have recently added to or reduced their stakes in the company. Windsor Advisory Group LLC bought a new position in NGL Energy Partners in the first quarter worth about $45,000. State of Wyoming acquired a new position in shares of NGL Energy Partners during the first quarter valued at about $51,000. Raymond James Financial Inc. acquired a new position in shares of NGL Energy Partners during the fourth quarter valued at about $55,000. one8zero8 LLC acquired a new position in shares of NGL Energy Partners during the fourth quarter valued at about $58,000. Finally, Two Sigma Securities LLC acquired a new position in shares of NGL Energy Partners during the fourth quarter valued at about $59,000. 40.62% of the stock is currently owned by institutional investors.

NGL Energy Partners Company Profile

NGL Energy Partners LP engages in the transportation, storage, blending, and marketing of crude oil, natural gas liquids, refined products / renewables, and water solutions. The company operates in three segments: Water Solutions, Crude Oil Logistics, and Liquids Logistics. The Water Solutions segment transports, treats, recycles, and disposes produced and flowback water generated from oil and natural gas production; aggregates and sells recovered crude oil; disposes solids, such as tank bottoms, and drilling fluid and muds, as well as performs truck and frac tank washouts; and sells produced water for reuse and recycle, and brackish non-potable water.