NGL Energy Partners (NYSE:NGL) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

NGL Energy Partners LP (NYSE:NGL)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.56 and traded as high as $16.46. NGL Energy Partners shares last traded at $15.95, with a volume of 330,863 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NGL shares. Weiss Ratings downgraded NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Zacks Research upgraded NGL Energy Partners from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, NGL Energy Partners presently has a consensus rating of “Hold”.

NGL Energy Partners Trading Down 3.6%

The business has a 50-day moving average price of $15.57 and a two-hundred day moving average price of $12.56. The stock has a market capitalization of $1.99 billion, a P/E ratio of -4.86 and a beta of 0.58.

NGL Energy Partners (NYSE:NGL) last released its earnings results on Thursday, May 28th. The oil and gas company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.89). NGL Energy Partners had a negative net margin of 4.51% and a negative return on equity of 47.64%. The company had revenue of $949.51 million for the quarter, compared to the consensus estimate of $941.52 million. On average, sell-side analysts forecast that NGL Energy Partners LP will post 0.82 earnings per share for the current fiscal year.

NGL Energy Partners announced that its Board of Directors has authorized a stock repurchase program on Thursday, April 9th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the oil and gas company to purchase up to 6.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of NGL Energy Partners

Institutional investors and hedge funds have recently modified their holdings of the business. CIBC Bancorp USA Inc. bought a new stake in shares of NGL Energy Partners during the 3rd quarter worth $70,000. CIBC Private Wealth Group LLC bought a new stake in shares of NGL Energy Partners during the 3rd quarter worth $70,000. LPL Financial LLC bought a new stake in shares of NGL Energy Partners during the 4th quarter worth $120,000. Royal Bank of Canada lifted its position in shares of NGL Energy Partners by 71.2% during the 4th quarter. Royal Bank of Canada now owns 14,454 shares of the oil and gas company’s stock worth $145,000 after buying an additional 6,009 shares during the last quarter. Finally, Quartz Partners LLC lifted its position in shares of NGL Energy Partners by 6.8% during the 1st quarter. Quartz Partners LLC now owns 16,504 shares of the oil and gas company’s stock worth $203,000 after buying an additional 1,052 shares during the last quarter. 40.62% of the stock is currently owned by institutional investors.

NGL Energy Partners Company Profile

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.