NGL Energy Partners (NYSE:NGL) Shares Gap Down – Here’s What Happened

NGL Energy Partners LP (NYSE:NGL)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $4.81, but opened at $4.70. NGL Energy Partners shares last traded at $4.78, with a volume of 7,243 shares changing hands.

NGL Energy Partners Stock Performance

The firm has a market cap of $629.70 million, a price-to-earnings ratio of -2.06 and a beta of 1.75. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 28.52. The company has a 50 day moving average of $4.42 and a 200 day moving average of $4.59.

NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings results on Tuesday, November 12th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.20). The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.56 billion. NGL Energy Partners had a positive return on equity of 77.15% and a negative net margin of 2.87%. During the same quarter last year, the firm posted ($0.05) EPS. As a group, equities research analysts expect that NGL Energy Partners LP will post 0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On NGL Energy Partners

A number of institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC bought a new stake in NGL Energy Partners in the 3rd quarter valued at about $46,000. XTX Topco Ltd acquired a new position in shares of NGL Energy Partners during the third quarter worth approximately $46,000. International Assets Investment Management LLC increased its position in NGL Energy Partners by 350.0% in the 3rd quarter. International Assets Investment Management LLC now owns 12,600 shares of the oil and gas company’s stock valued at $57,000 after acquiring an additional 9,800 shares during the period. FLC Capital Advisors bought a new stake in NGL Energy Partners during the 3rd quarter valued at $103,000. Finally, Van ECK Associates Corp grew its stake in shares of NGL Energy Partners by 26.4% in the second quarter. Van ECK Associates Corp now owns 24,565 shares of the oil and gas company’s stock worth $124,000 after purchasing an additional 5,128 shares in the last quarter. Institutional investors 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.