NGL Energy Partners LP (NYSE:NGL) Short Interest Update

NGL Energy Partners LP (NYSE:NGL) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 2,620,000 shares, a decline of 22.5% from the August 15th total of 3,380,000 shares. Approximately 2.3% of the shares of the company are sold short. Based on an average trading volume of 428,000 shares, the days-to-cover ratio is presently 6.1 days.

Hedge Funds Weigh In On NGL Energy Partners

Hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new position in NGL Energy Partners during the 2nd quarter worth $721,000. Cetera Investment Advisers grew its holdings in shares of NGL Energy Partners by 13.2% during the 2nd quarter. Cetera Investment Advisers now owns 281,019 shares of the oil and gas company’s stock worth $1,422,000 after purchasing an additional 32,800 shares in the last quarter. NBW Capital LLC increased its position in shares of NGL Energy Partners by 3.0% in the second quarter. NBW Capital LLC now owns 451,947 shares of the oil and gas company’s stock worth $2,287,000 after purchasing an additional 12,985 shares during the period. ELCO Management Co. LLC raised its stake in NGL Energy Partners by 100.1% in the second quarter. ELCO Management Co. LLC now owns 108,670 shares of the oil and gas company’s stock valued at $550,000 after purchasing an additional 54,375 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. lifted its position in NGL Energy Partners by 11.1% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 68,234 shares of the oil and gas company’s stock worth $345,000 after purchasing an additional 6,834 shares during the period. 40.62% of the stock is owned by institutional investors.

NGL Energy Partners Stock Performance

Shares of NGL stock traded down $0.18 during midday trading on Friday, hitting $4.31. 158,004 shares of the company were exchanged, compared to its average volume of 395,634. NGL Energy Partners has a 52 week low of $3.68 and a 52 week high of $6.20. The firm has a market capitalization of $571.12 million, a P/E ratio of -2.02 and a beta of 1.67. The firm’s 50 day moving average price is $4.40 and its two-hundred day moving average price is $5.23. The company has a debt-to-equity ratio of 28.52, a quick ratio of 0.96 and a current ratio of 1.15.

NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings data on Thursday, August 8th. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.27). NGL Energy Partners had a positive return on equity of 36.54% and a negative net margin of 2.28%. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the firm earned ($0.11) EPS. As a group, equities research analysts anticipate that NGL Energy Partners will post 0.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded NGL Energy Partners from a “buy” rating to a “hold” rating in a report on Monday, June 10th.

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.