NGL Energy Partners (NYSE:NGL) Share Price Passes Above 200-Day Moving Average – Here’s Why

NGL Energy Partners LP (NYSE:NGL) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.54 and traded as high as $5.23. NGL Energy Partners shares last traded at $5.18, with a volume of 683,070 shares.

NGL Energy Partners Trading Up 3.8 %

The firm has a market capitalization of $683.83 million, a PE ratio of -2.23 and a beta of 1.75. The company has a debt-to-equity ratio of 28.52, a current ratio of 1.21 and a quick ratio of 0.98. The company has a fifty day moving average of $4.53 and a 200-day moving average of $4.54.

NGL Energy Partners (NYSE:NGL) last released its quarterly earnings results on Tuesday, November 12th. The oil and gas company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.20). The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.56 billion. NGL Energy Partners had a negative net margin of 2.87% and a positive return on equity of 77.15%. During the same quarter in the prior year, the business posted ($0.05) EPS. On average, sell-side analysts anticipate that NGL Energy Partners LP will post 0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NGL Energy Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its stake in shares of NGL Energy Partners by 26.4% in the second quarter. Van ECK Associates Corp now owns 24,565 shares of the oil and gas company’s stock valued at $124,000 after buying an additional 5,128 shares during the period. Tortoise Capital Advisors L.L.C. increased its stake in NGL Energy Partners by 11.1% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 68,234 shares of the oil and gas company’s stock valued at $345,000 after acquiring an additional 6,834 shares during the period. Tidal Investments LLC boosted its stake in NGL Energy Partners by 33.3% in the 3rd quarter. Tidal Investments LLC now owns 35,527 shares of the oil and gas company’s stock valued at $160,000 after buying an additional 8,877 shares in the last quarter. International Assets Investment Management LLC raised its stake in NGL Energy Partners by 350.0% during the third quarter. International Assets Investment Management LLC now owns 12,600 shares of the oil and gas company’s stock worth $57,000 after acquiring an additional 9,800 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of NGL Energy Partners during the third quarter valued at $46,000. Institutional investors own 40.62% of the company’s stock.

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.