NGL Energy Partners (NYSE:NGL) Shares Cross Above 200 Day Moving Average – Should You Sell?

NGL Energy Partners LP (NYSE:NGL) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.61 and traded as high as $12.75. NGL Energy Partners shares last traded at $12.5750, with a volume of 183,354 shares.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NGL. Weiss Ratings restated a “hold (c)” rating on shares of NGL Energy Partners in a research note on Wednesday, January 28th. Zacks Research downgraded NGL Energy Partners from a “hold” rating to a “strong sell” rating in a report on Thursday, March 12th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, NGL Energy Partners currently has an average rating of “Reduce”.

NGL Energy Partners Stock Up 0.4%

The company’s fifty day moving average price is $11.88 and its 200 day moving average price is $9.61. The company has a market capitalization of $1.56 billion, a P/E ratio of 314.45 and a beta of 0.39.

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

Institutional Trading of NGL Energy Partners

Several large investors have recently modified their holdings of NGL. ING Groep NV increased its position in shares of NGL Energy Partners by 229.7% in the third quarter. ING Groep NV now owns 4,931,803 shares of the oil and gas company’s stock worth $29,591,000 after purchasing an additional 3,436,000 shares during the period. Angelo Gordon & CO. L.P. lifted its position in NGL Energy Partners by 291.7% during the third quarter. Angelo Gordon & CO. L.P. now owns 2,504,447 shares of the oil and gas company’s stock worth $15,027,000 after purchasing an additional 1,865,003 shares during the period. Bank of America Corp DE lifted its position in NGL Energy Partners by 18.7% during the third quarter. Bank of America Corp DE now owns 11,728,872 shares of the oil and gas company’s stock worth $70,373,000 after purchasing an additional 1,843,849 shares during the period. Goldman Sachs Group Inc. grew its stake in NGL Energy Partners by 9.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 7,522,370 shares of the oil and gas company’s stock worth $75,224,000 after buying an additional 651,779 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in NGL Energy Partners by 2,963.5% during the third quarter. BNP Paribas Financial Markets now owns 292,261 shares of the oil and gas company’s stock worth $1,754,000 after buying an additional 282,721 shares in the last quarter. 40.62% of the stock is owned by institutional investors and hedge funds.

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.