NGL Energy Partners (NYSE:NGL) Trading Up 7.8% – What’s Next?

NGL Energy Partners LP (NYSE:NGL)’s stock price shot up 7.8% during trading on Monday . The stock traded as high as $4.09 and last traded at $4.10. 345,971 shares changed hands during mid-day trading, a decline of 8% from the average session volume of 377,217 shares. The stock had previously closed at $3.80.

Analyst Ratings Changes

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

NGL Energy Partners Stock Up 7.4%

The firm has a 50-day moving average of $3.30 and a two-hundred day moving average of $4.34. The stock has a market capitalization of $538.75 million, a price-to-earnings ratio of -1.62 and a beta of 0.36.

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

Hedge Funds Weigh In On NGL Energy Partners

A number of hedge funds have recently modified their holdings of NGL. Windsor Advisory Group LLC purchased a new position in NGL Energy Partners in the first quarter valued at about $45,000. Raymond James Financial Inc. acquired a new position in NGL Energy Partners in the fourth quarter worth approximately $55,000. State of Wyoming bought a new position in NGL Energy Partners during the first quarter valued at approximately $51,000. one8zero8 LLC bought a new stake in NGL Energy Partners in the fourth quarter worth approximately $58,000. Finally, Two Sigma Securities LLC acquired a new position in shares of NGL Energy Partners during the 4th quarter worth $59,000. 40.62% of the stock is owned by institutional investors and hedge funds.

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.