NGL Energy Partners (NYSE:NGL) Reaches New 12-Month High – What’s Next?

NGL Energy Partners LP (NYSE:NGL)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $18.93 and last traded at $18.5340, with a volume of 280 shares. The stock had previously closed at $18.36.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Zacks Research raised shares of NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Weiss Ratings cut shares of NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Finally, Wall Street Zen upgraded shares of NGL Energy Partners from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy”.

NGL Energy Partners Trading Down 0.7%

The business has a 50-day moving average price of $15.99 and a two-hundred day moving average price of $14.50. The stock has a market capitalization of $2.28 billion, a P/E ratio of -6.39 and a beta of 0.63.

NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.37. NGL Energy Partners had a negative return on equity of 39.51% and a negative net margin of 3.76%.The company had revenue of $989.99 million for the quarter, compared to analysts’ expectations of $346.13 million. On average, sell-side analysts forecast that NGL Energy Partners LP will post 1.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NGL Energy Partners

Several hedge funds have recently bought and sold shares of NGL. CIBC Private Wealth Group LLC acquired a new position in shares of NGL Energy Partners in the 3rd quarter valued at approximately $70,000. CIBC Bancorp USA Inc. acquired a new stake in shares of NGL Energy Partners during the 3rd quarter worth approximately $70,000. Massar Capital Management LP increased its stake in NGL Energy Partners by 23.2% in the second quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company’s stock valued at $120,000 after acquiring an additional 5,295 shares during the last quarter. LPL Financial LLC bought a new position in NGL Energy Partners in the fourth quarter valued at approximately $120,000. Finally, State of Wyoming raised its position in NGL Energy Partners by 184.0% during the second quarter. State of Wyoming now owns 32,202 shares of the oil and gas company’s stock valued at $138,000 after purchasing an additional 20,864 shares in the last quarter. 40.62% of the stock is owned by institutional investors.

About NGL Energy Partners

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.