NGL Energy Partners (NYSE:NGL) Shares Gap Down – Here’s What Happened

NGL Energy Partners LP (NYSE:NGL)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $16.81, but opened at $16.11. NGL Energy Partners shares last traded at $16.15, with a volume of 81,775 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NGL shares. Zacks Research raised NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Wall Street Zen upgraded NGL Energy Partners from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Weiss Ratings lowered NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, NGL Energy Partners presently has an average rating of “Buy”.

NGL Energy Partners Trading Up 7.3%

The business’s fifty day simple moving average is $16.12 and its 200 day simple moving average is $14.73. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -6.17 and a beta of 0.63.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.37. The business had revenue of $989.99 million for the quarter, compared to analyst estimates of $346.13 million. NGL Energy Partners had a negative return on equity of 39.51% and a negative net margin of 3.76%. As a group, research analysts anticipate that NGL Energy Partners LP will post 1.38 earnings per share for the current year.

Insider Transactions at NGL Energy Partners

In related news, Director John T. Raymond bought 25,500 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was bought at an average cost of $16.22 per share, for a total transaction of $413,610.00. Following the transaction, the director owned 76,626 shares of the company’s stock, valued at $1,242,873.72. This represents a 49.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On NGL Energy Partners

Several large investors have recently bought and sold shares of NGL. CIBC Private Wealth Group LLC bought a new position in shares of NGL Energy Partners during the third quarter worth $70,000. CIBC Bancorp USA Inc. acquired a new stake in NGL Energy Partners during the 3rd quarter worth $70,000. LPL Financial LLC bought a new position in NGL Energy Partners during the fourth quarter worth about $120,000. Royal Bank of Canada increased its holdings in shares of NGL Energy Partners by 71.2% in the fourth quarter. Royal Bank of Canada now owns 14,454 shares of the oil and gas company’s stock worth $145,000 after acquiring an additional 6,009 shares in the last quarter. Finally, Quartz Partners LLC raised its position in shares of NGL Energy Partners by 6.8% during the first quarter. Quartz Partners LLC now owns 16,504 shares of the oil and gas company’s stock worth $203,000 after purchasing an additional 1,052 shares during the period. Institutional investors own 40.62% of the company’s stock.

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.