NGL Energy Partners (NYSE:NGL) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

NGL Energy Partners LP (NYSE:NGL) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.23 and traded as high as $12.10. NGL Energy Partners shares last traded at $12.01, with a volume of 344,513 shares changing hands.

Wall Street Analyst Weigh In

NGL has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NGL Energy Partners in a report on Wednesday, January 28th. Zacks Research downgraded NGL Energy Partners from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

NGL Energy Partners Trading Up 0.9%

The business has a 50-day simple moving average of $10.62 and a 200 day simple moving average of $8.23. The stock has a market cap of $1.49 billion, a P/E ratio of 300.33 and a beta of 0.31.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). NGL Energy Partners had a negative return on equity of 66.52% and a net margin of 5.01%.The company had revenue of $909.82 million during the quarter, compared to analyst estimates of $700.76 million. As a group, equities analysts expect that NGL Energy Partners LP will post -0.22 earnings per share for the current year.

Institutional Investors Weigh In On NGL Energy Partners

Institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in shares of NGL Energy Partners by 3.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,248,614 shares of the oil and gas company’s stock worth $23,829,000 after buying an additional 165,249 shares during the period. ELCO Management Co. LLC lifted its holdings in NGL Energy Partners by 26.2% in the second quarter. ELCO Management Co. LLC now owns 197,580 shares of the oil and gas company’s stock valued at $844,000 after buying an additional 40,960 shares during the period. Prescott Group Capital Management L.L.C. boosted its position in NGL Energy Partners by 713.1% during the second quarter. Prescott Group Capital Management L.L.C. now owns 990,638 shares of the oil and gas company’s stock valued at $4,230,000 after acquiring an additional 868,800 shares during the last quarter. AlphaCore Capital LLC grew its holdings in NGL Energy Partners by 28.0% during the 2nd quarter. AlphaCore Capital LLC now owns 160,000 shares of the oil and gas company’s stock worth $683,000 after acquiring an additional 35,000 shares during the period. Finally, CreativeOne Wealth LLC raised its position in shares of NGL Energy Partners by 15.7% in the 2nd quarter. CreativeOne Wealth LLC now owns 17,700 shares of the oil and gas company’s stock worth $76,000 after acquiring an additional 2,400 shares in the last quarter. 40.62% of the stock is owned by institutional investors.

About NGL Energy Partners

NGL Energy Partners LP is a publicly traded master limited partnership that provides midstream infrastructure and marketing services for the energy industry. The company focuses on the transportation, storage, fractionation and marketing of natural gas liquids (NGLs) and refined petroleum products. Through its integrated operations, NGL Energy Partners serves producers, processors, refiners and industrial customers across key U.S. energy-producing regions.

The partnership’s asset base includes pipelines, storage terminals, fractionation plants, and distribution facilities.