Shares of NGL Energy Partners LP (NYSE:NGL – Get Free Report) saw strong trading volume on Friday. 481,940 shares were traded during trading, an increase of 71% from the previous session’s volume of 281,403 shares. The stock last traded at $14.9710 and had previously closed at $14.81.
Wall Street Analysts Forecast Growth
NGL has been the topic of several analyst reports. Wall Street Zen raised shares of NGL Energy Partners from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings lowered NGL Energy Partners from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, September 29th. Finally, Zacks Research lowered NGL Energy Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, NGL Energy Partners presently has an average rating of “Reduce”.
Get Our Latest Stock Analysis on NGL Energy Partners
NGL Energy Partners Stock Performance
The firm’s fifty day simple moving average is $16.63 and its 200-day simple moving average is $15.90. The stock has a market cap of $1.89 billion, a P/E ratio of -5.34 and a beta of 0.84.
NGL Energy Partners (NYSE:NGL – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.37. NGL Energy Partners had a negative net margin of 3.76% and a negative return on equity of 39.51%. The company had revenue of $989.99 million for the quarter, compared to analyst estimates of $346.13 million. Analysts predict that NGL Energy Partners LP will post 1.38 earnings per share for the current fiscal year.
Insider Transactions at NGL Energy Partners
In other NGL Energy Partners news, CEO H. Krimbill sold 300,000 shares of NGL Energy Partners stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $17.00, for a total value of $5,100,000.00. Following the completion of the sale, the chief executive officer directly owned 3,378,615 shares in the company, valued at approximately $57,436,455. The trade was a 8.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James M. Collingsworth purchased 10,808 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was acquired at an average cost of $16.82 per share, for a total transaction of $181,790.56. Following the completion of the purchase, the director owned 764,308 shares of the company’s stock, valued at approximately $12,855,660.56. This trade represents a 1.43% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 339,923 shares of company stock valued at $5,750,003. Corporate insiders own 7.30% of the company’s stock.
Institutional Trading of NGL Energy Partners
Hedge funds have recently modified their holdings of the stock. Corient Private Wealth LP acquired a new position in shares of NGL Energy Partners during the 2nd quarter valued at $159,000. Quartz Partners LLC grew its holdings in NGL Energy Partners by 6.8% in the first quarter. Quartz Partners LLC now owns 16,504 shares of the oil and gas company’s stock worth $203,000 after purchasing an additional 1,052 shares during the period. Arkadios Wealth Advisors acquired a new stake in NGL Energy Partners in the first quarter worth $228,000. Fort Washington Investment Advisors Inc. OH bought a new stake in NGL Energy Partners in the first quarter valued at $385,000. Finally, Segall Bryant & Hamill LLC bought a new stake in NGL Energy Partners in the first quarter valued at $397,000. Institutional investors own 40.62% of the company’s stock.
About NGL Energy Partners
NGL Energy Partners LP is a publicly traded master limited partnership that provides midstream energy services in the United States. The company’s operations support producers, refiners, marketers and other participants in the energy industry through the transportation, handling, storage and disposal of crude oil, produced water and other energy-related liquids.
NGL’s Water Solutions business gathers, transports, treats, recycles and disposes of produced water generated during oil and natural gas production.
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