NGL Energy Partners (NYSE:NGL) Stock Passes Above 200 Day Moving Average – Time to Sell?

NGL Energy Partners LP (NYSE:NGL) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.61 and traded as high as $12.75. NGL Energy Partners shares last traded at $12.5750, with a volume of 183,354 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NGL. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NGL Energy Partners in a research report on Wednesday, January 28th. Zacks Research downgraded shares of NGL Energy Partners from a “hold” rating to a “strong sell” rating in a report on Thursday, March 12th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce”.

NGL Energy Partners Stock Down 0.0%

The business has a 50 day moving average price of $11.93 and a two-hundred day moving average price of $9.65. The stock has a market cap of $1.56 billion, a P/E ratio of 314.45 and a beta of 0.39.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). NGL Energy Partners had a negative return on equity of 66.52% and a net margin of 5.01%.The business had revenue of $909.82 million during the quarter, compared to analysts’ expectations of $700.76 million. On average, research analysts forecast that NGL Energy Partners LP will post -0.22 earnings per share for the current year.

Hedge Funds Weigh In On NGL Energy Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Redwood Family Wealth LLC bought a new stake in NGL Energy Partners in the 4th quarter valued at $549,000. XTX Topco Ltd boosted its holdings in shares of NGL Energy Partners by 9.0% during the 4th quarter. XTX Topco Ltd now owns 37,579 shares of the oil and gas company’s stock valued at $376,000 after purchasing an additional 3,103 shares during the last quarter. Osaic Holdings Inc. grew its holdings in NGL Energy Partners by 186.2% during the 4th quarter. Osaic Holdings Inc. now owns 20,348 shares of the oil and gas company’s stock valued at $203,000 after buying an additional 13,238 shares in the last quarter. Royal Bank of Canada increased its stake in NGL Energy Partners by 71.2% in the 4th 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 during the last quarter. Finally, Mariner LLC raised its holdings in shares of NGL Energy Partners by 10.8% during the 4th quarter. Mariner LLC now owns 255,502 shares of the oil and gas company’s stock worth $2,555,000 after acquiring an additional 25,000 shares in the last quarter. 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.