NGL Energy Partners (NYSE:NGL) Shares Up 5.3% – Time to Buy?

NGL Energy Partners LP (NYSE:NGL)’s stock price traded up 5.3% during trading on Tuesday . The stock traded as high as $4.63 and last traded at $4.67. 236,582 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 356,367 shares. The stock had previously closed at $4.43.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered NGL Energy Partners from a “buy” rating to a “hold” rating in a research note on Monday, April 21st.

NGL Energy Partners Trading Up 5.1%

The company has a market cap of $614.52 million, a P/E ratio of -1.85 and a beta of 0.36. The business’s 50 day simple moving average is $3.35 and its 200 day simple moving average is $4.32.

NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings data on Thursday, May 29th. The oil and gas company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The firm had revenue of $971.07 million during the quarter, compared to analyst estimates of $1.05 billion. NGL Energy Partners had a negative return on equity of 29.77% and a negative net margin of 3.57%. Sell-side analysts anticipate that NGL Energy Partners LP will post -0.22 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Invesco Ltd. grew 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. Bank of America Corp DE grew its holdings in shares of NGL Energy Partners by 27.3% in the fourth quarter. Bank of America Corp DE now owns 6,812,752 shares of the oil and gas company’s stock valued at $33,996,000 after purchasing an additional 1,461,754 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of NGL Energy Partners by 3.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,248,614 shares of the oil and gas company’s stock valued at $23,829,000 after purchasing an additional 165,249 shares in the last quarter. Citigroup Inc. grew its holdings in shares of NGL Energy Partners by 8.2% in the first quarter. Citigroup Inc. now owns 2,624,890 shares of the oil and gas company’s stock valued at $11,917,000 after purchasing an additional 199,770 shares in the last quarter. Finally, ING Groep NV boosted its stake in NGL Energy Partners by 8.4% during the first quarter. ING Groep NV now owns 1,325,803 shares of the oil and gas company’s stock worth $6,019,000 after buying an additional 103,000 shares during the period. 40.62% of the stock is owned by hedge funds and other institutional investors.

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.