NGL Energy Partners (NYSE:NGL) Trading Up 2.7% – Should You Buy?

NGL Energy Partners LP (NYSE:NGL) rose 2.7% on Tuesday . The company traded as high as $4.74 and last traded at $4.66. Approximately 23,919 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 353,835 shares. The stock had previously closed at $4.54.

Wall Street Analyst Weigh In

Separately, StockNews.com raised NGL Energy Partners from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th.

NGL Energy Partners Trading Down 0.2 %

The firm has a market capitalization of $613.86 million, a price-to-earnings ratio of -1.85 and a beta of 1.73. The firm’s 50-day moving average is $4.88 and its 200 day moving average is $4.72.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings results on Monday, February 10th. The oil and gas company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.25). NGL Energy Partners had a negative return on equity of 29.77% and a negative net margin of 3.57%. Analysts predict that NGL Energy Partners LP will post -0.22 EPS for the current year.

Insider Activity

In other news, CEO H Michael Krimbill purchased 15,000 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were acquired at an average price of $4.49 per share, for a total transaction of $67,350.00. Following the completion of the acquisition, the chief executive officer now owns 603,000 shares in the company, valued at approximately $2,707,470. The trade was a 2.55 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On NGL Energy Partners

A number of institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its holdings in NGL Energy Partners by 27.3% during the fourth quarter. Bank of America Corp DE now owns 6,812,752 shares of the oil and gas company’s stock worth $33,996,000 after buying an additional 1,461,754 shares during the last quarter. JPMorgan Chase & Co. lifted its position in NGL Energy Partners by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,008,565 shares of the oil and gas company’s stock valued at $22,539,000 after acquiring an additional 154,098 shares in the last quarter. Prescott Group Capital Management L.L.C. boosted its stake in NGL Energy Partners by 282.7% during the 4th quarter. Prescott Group Capital Management L.L.C. now owns 121,838 shares of the oil and gas company’s stock valued at $608,000 after purchasing an additional 90,000 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of NGL Energy Partners by 0.4% in the fourth quarter. Invesco Ltd. now owns 19,647,133 shares of the oil and gas company’s stock valued at $98,039,000 after purchasing an additional 85,000 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in NGL Energy Partners during the fourth quarter worth $182,000. 40.62% of the stock is owned by institutional investors and hedge funds.

NGL Energy Partners Company Profile

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.