NGL Energy Partners (NYSE:NGL) Shares Up 5%

Shares of NGL Energy Partners LP (NYSE:NGL) were up 5% during mid-day trading on Wednesday . The stock traded as high as $4.20 and last traded at $4.18. Approximately 543,289 shares changed hands during mid-day trading, an increase of 38% from the average daily volume of 393,395 shares. The stock had previously closed at $3.98.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered NGL Energy Partners from a “buy” rating to a “hold” rating in a research note on Monday, June 10th.

NGL Energy Partners Stock Up 1.2 %

The stock has a market cap of $555.23 million, a price-to-earnings ratio of -1.94 and a beta of 1.69. The company has a quick ratio of 0.96, a current ratio of 1.15 and a debt-to-equity ratio of 28.52. The business’s fifty day moving average is $4.48 and its two-hundred day moving average is $5.29.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings data on Thursday, August 8th. The oil and gas company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.27). NGL Energy Partners had a positive return on equity of 36.54% and a negative net margin of 2.28%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the prior year, the company posted ($0.11) EPS. Equities analysts forecast that NGL Energy Partners LP will post 0.33 earnings per share for the current fiscal year.

Institutional Trading of NGL Energy Partners

Several hedge funds have recently added to or reduced their stakes in NGL. Frazier Financial Advisors LLC purchased a new stake in shares of NGL Energy Partners in the fourth quarter valued at $28,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of NGL Energy Partners during the fourth quarter valued at about $104,000. Van ECK Associates Corp increased its position in shares of NGL Energy Partners by 26.4% during the second quarter. Van ECK Associates Corp now owns 24,565 shares of the oil and gas company’s stock worth $124,000 after acquiring an additional 5,128 shares during the last quarter. Everpar Advisors LLC purchased a new position in NGL Energy Partners in the fourth quarter valued at about $128,000. Finally, Janney Montgomery Scott LLC grew its stake in NGL Energy Partners by 9.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 32,210 shares of the oil and gas company’s stock valued at $186,000 after purchasing an additional 2,845 shares in the last quarter. Institutional investors and hedge funds 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.