NGL Energy Partners (NYSE:NGL) Shares Up 4% – What’s Next?

NGL Energy Partners LP (NYSE:NGL) shares shot up 4% on Monday . The stock traded as high as $9.80 and last traded at $9.77. 33,250 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 474,496 shares. The stock had previously closed at $9.39.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of NGL Energy Partners in a research note on Friday, October 31st. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

NGL Energy Partners Trading Up 7.5%

The stock has a market capitalization of $1.27 billion, a PE ratio of -56.06 and a beta of 0.29. The firm’s 50-day simple moving average is $8.94 and its two-hundred day simple moving average is $6.45.

NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $0.02 earnings per share for the quarter. NGL Energy Partners had a net margin of 3.29% and a negative return on equity of 53.56%. The business had revenue of $674.68 million during the quarter, compared to analysts’ expectations of $508.49 million. As a group, research analysts expect that NGL Energy Partners LP will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC bought a new stake in shares of NGL Energy Partners during the third quarter worth approximately $70,000. CIBC Bancorp USA Inc. acquired a new position in NGL Energy Partners in the third quarter valued at $70,000. Mariner LLC grew its stake in shares of NGL Energy Partners by 17.9% in the 3rd quarter. Mariner LLC now owns 230,502 shares of the oil and gas company’s stock valued at $1,383,000 after buying an additional 35,000 shares during the period. Bank of America Corp DE grew its holdings in NGL Energy Partners by 18.7% during the third quarter. Bank of America Corp DE now owns 11,728,872 shares of the oil and gas company’s stock worth $70,373,000 after buying an additional 1,843,849 shares in the last quarter. Finally, Angelo Gordon & CO. L.P. raised its stake in shares of NGL Energy Partners by 291.7% during the 3rd quarter. Angelo Gordon & CO. L.P. now owns 2,504,447 shares of the oil and gas company’s stock worth $15,027,000 after purchasing an additional 1,865,003 shares during the period. 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 infrastructure and marketing services for the energy industry. The company focuses on the transportation, storage, fractionation and marketing of natural gas liquids (NGLs) and refined petroleum products. Through its integrated operations, NGL Energy Partners serves producers, processors, refiners and industrial customers across key U.S. energy-producing regions.

The partnership’s asset base includes pipelines, storage terminals, fractionation plants, and distribution facilities.