NGL Energy Partners (NYSE:NGL) Trading 9.5% Higher – Should You Buy?

NGL Energy Partners LP (NYSE:NGL)’s share price traded up 9.5% during mid-day trading on Thursday . The company traded as high as $4.60 and last traded at $4.61. 634,282 shares traded hands during mid-day trading, an increase of 41% from the average session volume of 450,013 shares. The stock had previously closed at $4.21.

NGL Energy Partners Stock Performance

The company’s 50-day moving average is $5.06 and its 200-day moving average is $4.61. The firm has a market cap of $594.71 million, a price-to-earnings ratio of -1.94 and a beta of 1.71.

NGL Energy Partners (NYSE:NGL) last announced its earnings results on Monday, February 10th. The oil and gas company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.25). NGL Energy Partners had a positive return on equity of 77.15% and a negative net margin of 2.87%. On average, analysts predict that NGL Energy Partners LP will post 0.11 EPS for the current year.

Institutional Investors Weigh In On NGL Energy Partners

Several hedge funds and other institutional investors have recently made changes to their positions in NGL. XTX Topco Ltd bought a new position in NGL Energy Partners in the third quarter valued at about $46,000. Wealth Enhancement Advisory Services LLC acquired a new position in NGL Energy Partners during the 3rd quarter valued at about $46,000. Raymond James Financial Inc. bought a new position in shares of NGL Energy Partners in the 4th quarter valued at about $55,000. International Assets Investment Management LLC grew 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 worth $57,000 after buying an additional 9,800 shares during the period. Finally, one8zero8 LLC bought a new stake in shares of NGL Energy Partners during the fourth quarter worth approximately $58,000. 40.62% of the stock is owned by institutional investors and hedge funds.

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.