NGL Energy Partners (NYSE:NGL) Stock Price Passes Above 200 Day Moving Average – Here’s Why

NGL Energy Partners LP (NYSE:NGL) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.52 and traded as high as $6.50. NGL Energy Partners shares last traded at $6.40, with a volume of 97,221 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of NGL Energy Partners in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, NGL Energy Partners presently has an average rating of “Hold”.

NGL Energy Partners Trading Down 1.3%

The company has a market cap of $817.60 million, a P/E ratio of -15.60 and a beta of 0.38. The stock’s 50-day moving average price is $5.89 and its 200-day moving average price is $4.52.

NGL Energy Partners (NYSE:NGL) last released its quarterly earnings data on Thursday, August 7th. The oil and gas company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.16). The company had revenue of $622.16 million for the quarter, compared to the consensus estimate of $983.50 million. NGL Energy Partners had a negative return on equity of 43.75% and a net margin of 2.19%. On average, research analysts anticipate that NGL Energy Partners LP will post -0.22 earnings per share for the current fiscal year.

Insider Activity

In related news, Director James M. Collingsworth acquired 100,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were bought at an average price of $5.80 per share, with a total value of $580,000.00. Following the transaction, the director directly owned 729,500 shares of the company’s stock, valued at $4,231,100. This trade represents a 15.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Hedge Funds Weigh In On NGL Energy Partners

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cetera Investment Advisers raised its holdings in shares of NGL Energy Partners by 2.2% in the 1st quarter. Cetera Investment Advisers now owns 277,869 shares of the oil and gas company’s stock worth $1,262,000 after acquiring an additional 5,865 shares during the last quarter. ING Groep NV raised its holdings in shares of NGL Energy Partners by 8.4% in the 1st quarter. ING Groep NV now owns 1,325,803 shares of the oil and gas company’s stock worth $6,019,000 after acquiring an additional 103,000 shares during the last quarter. Citigroup Inc. raised its holdings in shares of NGL Energy Partners by 8.2% in the 1st quarter. Citigroup Inc. now owns 2,624,890 shares of the oil and gas company’s stock worth $11,917,000 after acquiring an additional 199,770 shares during the last quarter. NBW Capital LLC raised its holdings in shares of NGL Energy Partners by 15.8% in the 1st quarter. NBW Capital LLC now owns 520,259 shares of the oil and gas company’s stock worth $2,362,000 after acquiring an additional 70,924 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of NGL Energy Partners by 809.1% in the 1st quarter. HighTower Advisors LLC now owns 275,280 shares of the oil and gas company’s stock worth $1,250,000 after acquiring an additional 245,000 shares during the last quarter. Institutional investors own 40.62% of the company’s stock.

About NGL Energy Partners

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.