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

NGL Energy Partners LP (NYSE:NGL) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $15.34 and traded as high as $17.64. NGL Energy Partners shares last traded at $17.1980, with a volume of 50,511 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NGL. Wall Street Zen upgraded NGL Energy Partners from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Zacks Research upgraded NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of NGL Energy Partners in a report on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy”.

NGL Energy Partners Trading Up 1.2%

The company has a market cap of $2.06 billion, a PE ratio of -5.82 and a beta of 0.66. The firm’s 50-day simple moving average is $16.75 and its two-hundred day simple moving average is $15.37.

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

Insider Buying and Selling

In other news, Director John T. Raymond bought 300,000 shares of NGL Energy Partners stock in a transaction that occurred on Tuesday, August 25th. The stock was bought at an average price of $16.98 per share, for a total transaction of $5,094,000.00. Following the purchase, the director directly owned 376,626 shares of the company’s stock, valued at approximately $6,395,109.48. The trade was a 391.51% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James Collingsworth purchased 10,808 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were purchased at an average price of $16.82 per share, for a total transaction of $181,790.56. Following the purchase, the director owned 764,308 shares in the company, valued at approximately $12,855,660.56. The trade was a 1.43% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 339,923 shares of company stock worth $5,750,003 in the last 90 days. Insiders own 7.30% of the company’s stock.

Institutional Trading of NGL Energy Partners

Several institutional investors and hedge funds have recently bought and sold shares of NGL. Corient Private Wealth LP acquired a new position in NGL Energy Partners during the second quarter valued at $159,000. Quartz Partners LLC increased its holdings in shares of NGL Energy Partners by 6.8% during the 1st quarter. Quartz Partners LLC now owns 16,504 shares of the oil and gas company’s stock valued at $203,000 after purchasing an additional 1,052 shares in the last quarter. Arkadios Wealth Advisors acquired a new position in shares of NGL Energy Partners in the 1st quarter valued at $228,000. Fort Washington Investment Advisors Inc. OH acquired a new position in shares of NGL Energy Partners in the 1st quarter valued at $385,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in NGL Energy Partners during the first quarter worth $397,000. 40.62% of the stock is currently owned by institutional investors and hedge funds.

About NGL Energy Partners

NGL Energy Partners LP is a publicly traded master limited partnership that provides midstream energy services in the United States. The company’s operations support the movement, handling, treatment and disposal of crude oil, produced water and other energy-related liquids.

Its Water Solutions business gathers, transports, treats and disposes of produced water generated during oil and natural gas production. The segment operates primarily in major U.S. shale-producing regions, including the Permian Basin, and provides infrastructure such as pipelines, disposal wells and related facilities to producers.

NGL’s Crude Oil Logistics operations provide gathering, transportation, storage and marketing services for crude oil.