Shares of NGL Energy Partners LP (NYSE:NGL – Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.32 and traded as high as $4.46. NGL Energy Partners shares last traded at $4.41, with a volume of 350,184 shares traded.
Analyst Ratings Changes
Separately, Wall Street Zen cut shares of NGL Energy Partners from a “buy” rating to a “hold” rating in a research report on Monday, April 21st.
Read Our Latest Research Report on NGL Energy Partners
NGL Energy Partners Stock Up 2.4%
NGL Energy Partners (NYSE:NGL – Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The company had revenue of $971.07 million for the quarter, compared to the consensus estimate of $1.05 billion. NGL Energy Partners had a negative return on equity of 29.77% and a negative net margin of 3.57%. As a group, sell-side analysts forecast that NGL Energy Partners LP will post -0.22 earnings per share for the current fiscal year.
Hedge Funds Weigh In On NGL Energy Partners
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp boosted 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 valued at $158,000 after buying an additional 9,426 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of NGL Energy Partners during the fourth quarter valued at $55,000. Prescott Group Capital Management L.L.C. boosted its holdings in shares of NGL Energy Partners by 282.7% during the 4th quarter. Prescott Group Capital Management L.L.C. now owns 121,838 shares of the oil and gas company’s stock valued at $608,000 after acquiring an additional 90,000 shares during the last quarter. one8zero8 LLC bought a new stake in NGL Energy Partners in the 4th quarter worth approximately $58,000. Finally, Invesco Ltd. grew its holdings in shares of NGL Energy Partners by 0.4% in the fourth quarter. Invesco Ltd. now owns 19,647,133 shares of the oil and gas company’s stock worth $98,039,000 after acquiring an additional 85,000 shares during the period. Hedge funds and other institutional investors own 40.62% of the company’s stock.
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.
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