NGL Energy Partners (NYSE:NGL) Stock Price Down 3.6%

NGL Energy Partners LP (NYSE:NGL) fell 3.6% during mid-day trading on Wednesday . The company traded as low as $4.50 and last traded at $4.50. 16,903 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 392,173 shares. The stock had previously closed at $4.67.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of NGL Energy Partners from a “buy” rating to a “hold” rating in a report on Monday, June 10th.

NGL Energy Partners Trading Down 1.7 %

The stock has a market cap of $608.23 million, a P/E ratio of -2.19 and a beta of 1.67. The business’s 50 day simple moving average is $4.39 and its 200 day simple moving average is $5.20. The company has a debt-to-equity ratio of 28.52, a current ratio of 1.15 and a quick ratio of 0.96.

NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings results on Thursday, August 8th. The oil and gas company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.27). NGL Energy Partners had a negative net margin of 2.28% and a positive return on equity of 36.54%. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the business earned ($0.11) EPS. On average, analysts expect that NGL Energy Partners LP will post 0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NGL Energy Partners

Several institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its stake in NGL Energy Partners by 226.7% in the fourth quarter. BNP Paribas Financial Markets now owns 566,117 shares of the oil and gas company’s stock valued at $3,153,000 after acquiring an additional 392,823 shares during the last quarter. Jump Financial LLC increased its stake in NGL Energy Partners by 372.0% in the fourth quarter. Jump Financial LLC now owns 93,584 shares of the oil and gas company’s stock valued at $521,000 after acquiring an additional 73,755 shares during the last quarter. Frazier Financial Advisors LLC bought a new position in NGL Energy Partners in the fourth quarter valued at about $28,000. Goldman Sachs Group Inc. lifted its stake in NGL Energy Partners by 143.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,225,500 shares of the oil and gas company’s stock valued at $29,106,000 after purchasing an additional 3,078,422 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in NGL Energy Partners in the first quarter valued at about $288,000. Institutional investors own 40.62% of the company’s stock.

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.