NGL Energy Partners (NYSE:NGL) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

NGL Energy Partners LP (NYSE:NGL) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.14 and traded as high as $10.21. NGL Energy Partners shares last traded at $10.19, with a volume of 286,398 shares changing hands.

Analyst Ratings Changes

A number of brokerages have commented on NGL. Weiss Ratings reiterated a “hold (c)” rating on shares of NGL Energy Partners in a research report on Friday, October 31st. Zacks Research raised shares of NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

NGL Energy Partners Stock Performance

The business’s 50-day moving average is $9.77 and its 200-day moving average is $7.14. The company has a market capitalization of $1.28 billion, a PE ratio of -56.61 and a beta of 0.29.

NGL Energy Partners (NYSE:NGL) last announced its earnings results on Tuesday, November 4th. The oil and gas company reported $0.02 earnings per share for the quarter. NGL Energy Partners had a net margin of 3.29% and a negative return on equity of 53.56%. The business had revenue of $674.68 million during the quarter, compared to the consensus estimate of $508.49 million. Analysts expect that NGL Energy Partners LP will post -0.22 EPS for the current year.

Institutional Investors Weigh In On NGL Energy Partners

Several hedge funds have recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. bought a new position in shares of NGL Energy Partners during the third quarter valued at $70,000. CIBC Private Wealth Group LLC bought a new position in NGL Energy Partners in the 3rd quarter worth about $70,000. CreativeOne Wealth LLC grew its position in NGL Energy Partners by 15.7% during the 2nd quarter. CreativeOne Wealth LLC now owns 17,700 shares of the oil and gas company’s stock valued at $76,000 after purchasing an additional 2,400 shares during the last quarter. Massar Capital Management LP increased its stake in NGL Energy Partners by 23.2% during the 2nd quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company’s stock valued at $120,000 after purchasing an additional 5,295 shares in the last quarter. Finally, Simon Quick Advisors LLC bought a new stake in NGL Energy Partners during the 3rd quarter valued at about $129,000. 40.62% of the stock is owned by institutional investors.

About NGL Energy Partners

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.