NGL Energy Partners (NYSE:NGL) Stock Price Down 4% – What’s Next?

NGL Energy Partners LP (NYSE:NGL)’s share price was down 4% during trading on Wednesday . The company traded as low as $13.00 and last traded at $13.05. Approximately 235,691 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 372,987 shares. The stock had previously closed at $13.59.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Zacks Research downgraded NGL Energy Partners from a “hold” rating to a “strong sell” rating in a report on Thursday, March 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of NGL Energy Partners in a report on Wednesday, January 28th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, NGL Energy Partners has an average rating of “Reduce”.

NGL Energy Partners Stock Performance

The firm has a market cap of $1.60 billion, a P/E ratio of 324.13 and a beta of 0.34. The business’s 50-day simple moving average is $11.53 and its 200 day simple moving average is $9.34.

NGL Energy Partners (NYSE:NGL) last released its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). The firm had revenue of $909.82 million for the quarter, compared to the consensus estimate 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, equities research analysts expect that NGL Energy Partners LP will post -0.22 EPS for the current year.

Institutional Investors Weigh In On NGL Energy Partners

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