NGL Energy Partners (NYSE:NGL) Hits New 1-Year High – What’s Next?

NGL Energy Partners LP (NYSE:NGL)’s stock price reached a new 52-week high on Thursday . The company traded as high as $13.00 and last traded at $11.72, with a volume of 34946 shares changing hands. The stock had previously closed at $11.84.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NGL Energy Partners in a research report on Wednesday, January 28th. Zacks Research downgraded shares of NGL Energy Partners from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, NGL Energy Partners currently has an average rating of “Hold”.

NGL Energy Partners Stock Down 2.2%

The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 287.32 and a beta of 0.34. The company’s 50 day moving average price is $11.06 and its 200 day moving average price is $8.74.

NGL Energy Partners (NYSE:NGL) last released its earnings results on Tuesday, February 3rd. The oil and gas company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.06). The firm had revenue of $909.82 million during the quarter, compared to analyst estimates of $700.76 million. NGL Energy Partners had a net margin of 5.01% and a negative return on equity of 66.52%. As a group, analysts expect that NGL Energy Partners LP will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Everpar Advisors LLC lifted its holdings in shares of NGL Energy Partners by 6.5% during the fourth quarter. Everpar Advisors LLC now owns 24,500 shares of the oil and gas company’s stock worth $245,000 after purchasing an additional 1,500 shares during the period. CreativeOne Wealth LLC increased its holdings in NGL Energy Partners by 15.7% in the 2nd quarter. CreativeOne Wealth LLC now owns 17,700 shares of the oil and gas company’s stock worth $76,000 after buying an additional 2,400 shares during the period. Wells Fargo & Company MN raised its position in NGL Energy Partners by 9.4% during the 4th quarter. Wells Fargo & Company MN now owns 34,800 shares of the oil and gas company’s stock worth $348,000 after buying an additional 3,000 shares during the last quarter. XTX Topco Ltd lifted its stake in NGL Energy Partners by 9.0% during the 4th quarter. XTX Topco Ltd now owns 37,579 shares of the oil and gas company’s stock valued at $376,000 after acquiring an additional 3,103 shares during the period. Finally, Massar Capital Management LP lifted its stake in NGL Energy Partners by 23.2% during the 2nd quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company’s stock valued at $120,000 after acquiring an additional 5,295 shares during the period. 40.62% of the stock is currently owned by hedge funds and other institutional investors.

NGL Energy Partners Company Profile

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.