NGL Energy Partners (NYSE:NGL) Shares Gap Up to $4.31

Shares of NGL Energy Partners LP (NYSE:NGL) gapped up before the market opened on Tuesday . The stock had previously closed at $4.31, but opened at $4.44. NGL Energy Partners shares last traded at $4.47, with a volume of 6,391 shares traded.

Wall Street Analysts Forecast Growth

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

NGL Energy Partners Stock Down 3.6 %

The stock’s fifty day simple moving average is $4.39 and its 200-day simple moving average is $5.20. The stock has a market cap of $596.31 million, a P/E ratio of -2.11 and a beta of 1.67. The company has a debt-to-equity ratio of 28.52, a quick ratio of 0.96 and a current ratio of 1.15.

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 (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $1.44 billion. During the same quarter last year, the firm posted ($0.11) earnings per share. As a group, research analysts forecast that NGL Energy Partners LP will post 0.33 earnings per share for the current fiscal year.

Institutional Trading of NGL Energy Partners

Several large investors have recently modified their holdings of NGL. NBW Capital LLC raised its stake in NGL Energy Partners by 40.7% in the first quarter. NBW Capital LLC now owns 438,962 shares of the oil and gas company’s stock valued at $2,528,000 after purchasing an additional 126,881 shares in the last quarter. Tidal Investments LLC raised its position in shares of NGL Energy Partners by 42.4% in the 1st quarter. Tidal Investments LLC now owns 38,322 shares of the oil and gas company’s stock valued at $221,000 after buying an additional 11,419 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of NGL Energy Partners by 143.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,225,500 shares of the oil and gas company’s stock worth $29,106,000 after acquiring an additional 3,078,422 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of NGL Energy Partners by 226.7% during the 4th quarter. BNP Paribas Financial Markets now owns 566,117 shares of the oil and gas company’s stock worth $3,153,000 after acquiring an additional 392,823 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in shares of NGL Energy Partners by 9.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 32,210 shares of the oil and gas company’s stock worth $186,000 after acquiring an additional 2,845 shares in the last quarter. 40.62% of the stock is owned by institutional investors and hedge funds.

About NGL Energy Partners

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.