NGL Energy Partners (NYSE:NGL) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

NGL Energy Partners LP (NYSE:NGL)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.23 and traded as high as $12.10. NGL Energy Partners shares last traded at $12.01, with a volume of 344,513 shares.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Zacks Research lowered shares of NGL Energy Partners from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of NGL Energy Partners in a research note on Wednesday, January 28th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, NGL Energy Partners currently has a consensus rating of “Hold”.

NGL Energy Partners Stock Up 0.9%

The firm has a market capitalization of $1.49 billion, a P/E ratio of 300.33 and a beta of 0.31. The business’s 50 day moving average is $10.62 and its 200-day moving average is $8.23.

NGL Energy Partners (NYSE:NGL) last released its earnings results on Tuesday, February 3rd. The oil and gas company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.06). NGL Energy Partners had a negative return on equity of 66.52% and a net margin of 5.01%.The business had revenue of $909.82 million for the quarter, compared to the consensus estimate of $700.76 million. Research analysts forecast that NGL Energy Partners LP will post -0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. XTX Topco Ltd lifted its holdings in shares of NGL Energy Partners by 9.0% in the fourth quarter. XTX Topco Ltd now owns 37,579 shares of the oil and gas company’s stock worth $376,000 after acquiring an additional 3,103 shares during the last quarter. Osaic Holdings Inc. lifted its stake in NGL Energy Partners by 186.2% in the 4th quarter. Osaic Holdings Inc. now owns 20,348 shares of the oil and gas company’s stock valued at $203,000 after purchasing an additional 13,238 shares during the last quarter. Royal Bank of Canada boosted its position in NGL Energy Partners by 71.2% in the fourth quarter. Royal Bank of Canada now owns 14,454 shares of the oil and gas company’s stock valued at $145,000 after buying an additional 6,009 shares in the last quarter. Mariner LLC boosted its position in NGL Energy Partners by 10.8% in the fourth quarter. Mariner LLC now owns 255,502 shares of the oil and gas company’s stock valued at $2,555,000 after buying an additional 25,000 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of NGL Energy Partners by 9.4% during the fourth quarter. Wells Fargo & Company MN now owns 34,800 shares of the oil and gas company’s stock worth $348,000 after buying an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 40.62% of the company’s stock.

NGL Energy Partners Company Profile

NGL Energy Partners LP is a publicly traded master limited partnership that provides midstream infrastructure and marketing services for the energy industry. The company focuses on the transportation, storage, fractionation and marketing of natural gas liquids (NGLs) and refined petroleum products. Through its integrated operations, NGL Energy Partners serves producers, processors, refiners and industrial customers across key U.S. energy-producing regions.

The partnership’s asset base includes pipelines, storage terminals, fractionation plants, and distribution facilities.