NGL Energy Partners (NYSE:NGL) Shares Pass Above 200 Day Moving Average – Here’s What Happened

NGL Energy Partners LP (NYSE:NGL)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.28 and traded as high as $12.58. NGL Energy Partners shares last traded at $12.4150, with a volume of 219,995 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Zacks Research lowered NGL Energy Partners from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NGL Energy Partners in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, NGL Energy Partners currently has an average rating of “Reduce”.

NGL Energy Partners Price Performance

The firm has a market capitalization of $1.54 billion, a PE ratio of 310.45 and a beta of 0.34. The company’s fifty day simple moving average is $11.45 and its 200 day simple moving average is $9.28.

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

Institutional Investors Weigh In On NGL Energy Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. ING Groep NV lifted its holdings in shares of NGL Energy Partners by 229.7% in the third quarter. ING Groep NV now owns 4,931,803 shares of the oil and gas company’s stock worth $29,591,000 after buying an additional 3,436,000 shares in the last quarter. Angelo Gordon & CO. L.P. grew its stake in NGL Energy Partners by 291.7% during the third quarter. Angelo Gordon & CO. L.P. now owns 2,504,447 shares of the oil and gas company’s stock valued at $15,027,000 after acquiring an additional 1,865,003 shares in the last quarter. Bank of America Corp DE grew its stake in NGL Energy Partners by 18.7% during the third quarter. Bank of America Corp DE now owns 11,728,872 shares of the oil and gas company’s stock valued at $70,373,000 after acquiring an additional 1,843,849 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in NGL Energy Partners by 9.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,522,370 shares of the oil and gas company’s stock worth $75,224,000 after acquiring an additional 651,779 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in NGL Energy Partners by 2,963.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 292,261 shares of the oil and gas company’s stock worth $1,754,000 after purchasing an additional 282,721 shares in the last quarter. Institutional investors 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.