NGL Energy Partners (NYSE:NGL) Trading Down 4.5% – Here’s What Happened

NGL Energy Partners LP (NYSE:NGL)’s share price fell 4.5% during mid-day trading on Monday . The stock traded as low as $5.07 and last traded at $5.07. 41,017 shares were traded during mid-day trading, a decline of 91% from the average session volume of 464,702 shares. The stock had previously closed at $5.31.

NGL Energy Partners Stock Up 0.8 %

The firm has a market capitalization of $671.95 million, a P/E ratio of -2.19 and a beta of 1.72. The firm’s fifty day moving average price is $4.61 and its 200-day moving average price is $4.53. The company has a debt-to-equity ratio of 28.52, a current ratio of 1.21 and a quick ratio of 0.98.

NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings results on Tuesday, November 12th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.20). The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate 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 business posted ($0.05) earnings per share. As a group, equities research analysts forecast that NGL Energy Partners LP will post 0.11 earnings per share for the current year.

Hedge Funds Weigh In On NGL Energy Partners

Large investors have recently made changes to their positions in the business. 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 in the last quarter. Tidal Investments LLC increased its holdings in shares of NGL Energy Partners by 33.3% in the third quarter. Tidal Investments LLC now owns 35,527 shares of the oil and gas company’s stock valued at $160,000 after buying an additional 8,877 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of NGL Energy Partners by 350.0% during the 3rd quarter. International Assets Investment Management LLC now owns 12,600 shares of the oil and gas company’s stock valued at $57,000 after acquiring an additional 9,800 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of NGL Energy Partners during the 3rd quarter worth $46,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of NGL Energy Partners in the 3rd quarter worth $46,000. Institutional investors own 40.62% of the company’s stock.

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.