NGL Energy Partners (NYSE:NGL) Shares Gap Down – What’s Next?

NGL Energy Partners LP (NYSE:NGL) gapped down before the market opened on Wednesday . The stock had previously closed at $4.68, but opened at $4.50. NGL Energy Partners shares last traded at $4.66, with a volume of 168,749 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded NGL Energy Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th.

NGL Energy Partners Stock Performance

The firm’s fifty day simple moving average is $4.93 and its 200 day simple moving average is $4.71. The stock has a market capitalization of $613.20 million, a price-to-earnings ratio of -1.84 and a beta of 1.73.

NGL Energy Partners (NYSE:NGL) last released its quarterly earnings data on Monday, February 10th. The oil and gas company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.25). NGL Energy Partners had a negative net margin of 3.57% and a negative return on equity of 29.77%. Analysts forecast that NGL Energy Partners LP will post -0.22 earnings per share for the current year.

Insider Activity at NGL Energy Partners

In other NGL Energy Partners news, CEO H Michael Krimbill bought 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average price of $4.49 per share, with a total value of $67,350.00. Following the completion of the purchase, the chief executive officer now directly owns 603,000 shares of the company’s stock, valued at approximately $2,707,470. This trade represents a 2.55 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Hedge Funds Weigh In On NGL Energy Partners

A number of hedge funds have recently bought and sold shares of NGL. Bank of America Corp DE increased its position in shares of NGL Energy Partners by 27.3% during the 4th quarter. Bank of America Corp DE now owns 6,812,752 shares of the oil and gas company’s stock valued at $33,996,000 after purchasing an additional 1,461,754 shares during the last quarter. Citigroup Inc. raised its holdings in shares of NGL Energy Partners by 15.9% during the 3rd quarter. Citigroup Inc. now owns 2,427,108 shares of the oil and gas company’s stock valued at $10,922,000 after buying an additional 333,531 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of NGL Energy Partners by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 5,008,565 shares of the oil and gas company’s stock worth $22,539,000 after buying an additional 154,098 shares during the period. Prescott Group Capital Management L.L.C. grew its holdings in shares of NGL Energy Partners by 282.7% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 121,838 shares of the oil and gas company’s stock worth $608,000 after purchasing an additional 90,000 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of NGL Energy Partners by 0.4% during the fourth quarter. Invesco Ltd. now owns 19,647,133 shares of the oil and gas company’s stock valued at $98,039,000 after acquiring an additional 85,000 shares during the last quarter. 40.62% of the stock is owned by hedge funds and other 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.