NGL Energy Partners (NYSE:NGL) Shares Gap Down – What’s Next?

NGL Energy Partners LP (NYSE:NGL) gapped down prior to trading on Monday . The stock had previously closed at $4.82, but opened at $4.65. NGL Energy Partners shares last traded at $4.65, with a volume of 20,471 shares trading hands.

NGL Energy Partners Price Performance

The firm has a market cap of $625.73 million, a price-to-earnings ratio of -2.00 and a beta of 1.70. The business has a 50 day simple moving average of $4.41 and a 200-day simple moving average of $4.67. The company has a debt-to-equity ratio of 28.52, a quick ratio of 0.98 and a current ratio of 1.21.

NGL Energy Partners (NYSE:NGL) last released its quarterly earnings results on Tuesday, November 12th. The oil and gas company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.20). The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.56 billion. NGL Energy Partners had a negative net margin of 2.87% and a positive return on equity of 77.15%. During the same period in the previous year, the company posted ($0.05) earnings per share. Equities research analysts expect that NGL Energy Partners LP will post 0.09 earnings per share for the current year.

Institutional Investors Weigh In On NGL Energy Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NGL. Tidal Investments LLC raised its stake in NGL Energy Partners by 42.4% in 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 in the last quarter. Van ECK Associates Corp raised its position in shares of NGL Energy Partners by 26.4% during the 2nd quarter. Van ECK Associates Corp now owns 24,565 shares of the oil and gas company’s stock valued at $124,000 after buying an additional 5,128 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of NGL Energy Partners by 11.1% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 68,234 shares of the oil and gas company’s stock worth $345,000 after acquiring an additional 6,834 shares during the last quarter. ELCO Management Co. LLC raised its position in NGL Energy Partners by 100.1% during the second quarter. ELCO Management Co. LLC now owns 108,670 shares of the oil and gas company’s stock valued at $550,000 after purchasing an additional 54,375 shares in the last quarter. Finally, NBW Capital LLC raised its holdings in shares of NGL Energy Partners by 3.0% during the 2nd quarter. NBW Capital LLC now owns 451,947 shares of the oil and gas company’s stock valued at $2,287,000 after buying an additional 12,985 shares in the last quarter. 40.62% of the stock is currently owned by institutional investors.

About NGL Energy Partners

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.