NGL Energy Partners (NYSE:NGL) Shares Gap Down – Should You Sell?

NGL Energy Partners LP (NYSE:NGL) gapped down before the market opened on Wednesday . The stock had previously closed at $4.68, but opened at $4.50. NGL Energy Partners shares last traded at $4.66, with a volume of 168,749 shares changing hands.

Analysts Set New Price Targets

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

NGL Energy Partners Stock Performance

The firm has a market capitalization of $612.54 million, a PE ratio of -1.85 and a beta of 1.73. The company has a fifty day simple moving average of $4.96 and a two-hundred day simple moving average of $4.71.

NGL Energy Partners (NYSE:NGL) last issued its earnings results on Monday, February 10th. The oil and gas company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, equities analysts anticipate that NGL Energy Partners LP will post -0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NGL Energy Partners news, CEO H Michael Krimbill acquired 15,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was purchased at an average price of $4.49 per share, for a total transaction of $67,350.00. Following the acquisition, the chief executive officer now owns 603,000 shares in the company, valued at approximately $2,707,470. This trade represents a 2.55 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new position in shares of NGL Energy Partners during the third quarter valued at about $46,000. Raymond James Financial Inc. purchased a new stake in NGL Energy Partners during the 4th quarter worth approximately $55,000. one8zero8 LLC acquired a new position in NGL Energy Partners during the 4th quarter valued at approximately $58,000. Two Sigma Securities LLC purchased a new position in shares of NGL Energy Partners in the fourth quarter worth $59,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of NGL Energy Partners during the fourth quarter worth $61,000. 40.62% of the stock is owned by institutional investors and hedge funds.

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.