NGL Energy Partners (NYSE:NGL) Sees Large Volume Increase – What’s Next?

Shares of NGL Energy Partners LP (NYSE:NGL) saw strong trading volume on Thursday . 516,380 shares changed hands during trading, an increase of 56% from the previous session’s volume of 330,618 shares.The stock last traded at $5.45 and had previously closed at $5.38.

NGL Energy Partners Stock Down 1.6 %

The stock has a 50 day moving average price of $4.99 and a two-hundred day moving average price of $4.59. The company has a market cap of $722.11 million, a P/E ratio of -2.36 and a beta of 1.72.

NGL Energy Partners (NYSE:NGL) last posted its earnings results on Tuesday, November 12th. The oil and gas company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.20). NGL Energy Partners had a positive return on equity of 77.15% and a negative net margin of 2.87%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the business posted ($0.05) EPS. Equities analysts anticipate that NGL Energy Partners LP will post 0.11 EPS for the current year.

Institutional Investors Weigh In On NGL Energy Partners

A number of large investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd bought a new stake in shares of NGL Energy Partners during the 3rd quarter valued at $46,000. Wealth Enhancement Advisory Services LLC acquired a new stake in NGL Energy Partners during the third quarter worth about $46,000. International Assets Investment Management LLC increased its holdings in NGL Energy Partners by 350.0% in 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 buying an additional 9,800 shares during the period. FLC Capital Advisors acquired a new position in shares of NGL Energy Partners in the 3rd quarter valued at approximately $103,000. Finally, Van ECK Associates Corp lifted its holdings in shares of NGL Energy Partners by 42.4% during the 4th quarter. Van ECK Associates Corp now owns 31,672 shares of the oil and gas company’s stock worth $158,000 after acquiring an additional 9,426 shares during the period. Institutional investors and hedge funds 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.