NGL Energy Partners (NYSE:NGL) Shares Gap Up to $4.31

NGL Energy Partners LP (NYSE:NGL)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $4.31, but opened at $4.44. NGL Energy Partners shares last traded at $4.47, with a volume of 6,391 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com downgraded NGL Energy Partners from a “buy” rating to a “hold” rating in a research note on Monday, June 10th.

NGL Energy Partners Price Performance

The firm has a market cap of $621.49 million, a P/E ratio of -2.22 and a beta of 1.67. The company has a fifty day moving average of $4.40 and a 200-day moving average of $5.21. The company has a debt-to-equity ratio of 28.52, a current ratio of 1.15 and a quick ratio of 0.96.

NGL Energy Partners (NYSE:NGL) last posted its earnings results on Thursday, August 8th. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.27). NGL Energy Partners had a positive return on equity of 36.54% and a negative net margin of 2.28%. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the company earned ($0.11) EPS. On average, sell-side analysts anticipate that NGL Energy Partners LP will post 0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On NGL Energy Partners

Several institutional investors have recently modified their holdings of NGL. Frazier Financial Advisors LLC purchased a new stake in NGL Energy Partners during the fourth quarter worth about $28,000. Van ECK Associates Corp raised its holdings in shares of NGL Energy Partners by 26.4% in the 2nd quarter. Van ECK Associates Corp now owns 24,565 shares of the oil and gas company’s stock worth $124,000 after purchasing an additional 5,128 shares during the period. Janney Montgomery Scott LLC lifted its stake in NGL Energy Partners by 9.7% in the first quarter. Janney Montgomery Scott LLC now owns 32,210 shares of the oil and gas company’s stock valued at $186,000 after purchasing an additional 2,845 shares during the last quarter. Tidal Investments LLC grew its holdings in NGL Energy Partners by 42.4% during the first quarter. Tidal Investments LLC now owns 38,322 shares of the oil and gas company’s stock valued at $221,000 after purchasing an additional 11,419 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in NGL Energy Partners in the first quarter worth $271,000. 40.62% of the stock is owned by 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.