NGL Energy Partners (NYSE:NGL) Shares Down 3.4% – Here’s Why

NGL Energy Partners LP (NYSE:NGL) traded down 3.4% on Wednesday . The company traded as low as $9.86 and last traded at $9.78. 25,061 shares traded hands during trading, a decline of 95% from the average session volume of 477,085 shares. The stock had previously closed at $10.12.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of NGL Energy Partners in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

NGL Energy Partners Stock Down 3.4%

The stock’s 50-day moving average price is $8.73 and its 200-day moving average price is $6.33. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -54.33 and a beta of 0.30.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $674.68 million for the quarter, compared to the consensus estimate of $508.49 million. NGL Energy Partners had a negative return on equity of 53.56% and a net margin of 3.29%. On average, equities research analysts anticipate that NGL Energy Partners LP will post -0.22 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC boosted its stake in shares of NGL Energy Partners by 809.1% in the 1st quarter. HighTower Advisors LLC now owns 275,280 shares of the oil and gas company’s stock valued at $1,250,000 after purchasing an additional 245,000 shares during the last quarter. Jump Financial LLC lifted its holdings in NGL Energy Partners by 213.1% in the first quarter. Jump Financial LLC now owns 69,500 shares of the oil and gas company’s stock valued at $316,000 after buying an additional 47,300 shares during the period. State of Wyoming bought a new position in NGL Energy Partners in the first quarter valued at approximately $51,000. Nomura Holdings Inc. acquired a new stake in NGL Energy Partners during the 1st quarter worth $1,300,000. Finally, Goldman Sachs Group Inc. raised its position in shares of NGL Energy Partners by 3.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,248,614 shares of the oil and gas company’s stock valued at $23,829,000 after acquiring an additional 165,249 shares during the last quarter. 40.62% of the stock is currently owned by institutional investors and hedge funds.

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.