NGL Energy Partners (NYSE:NGL) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

NGL Energy Partners LP (NYSE:NGL)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.00 and traded as high as $16.18. NGL Energy Partners shares last traded at $15.9480, with a volume of 229,429 shares.

Wall Street Analyst Weigh In

NGL has been the topic of several research reports. Zacks Research raised NGL Energy Partners from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Weiss Ratings downgraded NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

NGL Energy Partners Price Performance

The company has a market cap of $1.99 billion, a price-to-earnings ratio of -4.86 and a beta of 0.58. The company’s 50-day simple moving average is $16.15 and its 200-day simple moving average is $13.00.

NGL Energy Partners (NYSE:NGL) last posted its earnings results on Thursday, May 28th. The oil and gas company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.89). The firm had revenue of $949.51 million for the quarter, compared to analyst estimates of $941.52 million. NGL Energy Partners had a negative return on equity of 47.64% and a negative net margin of 4.51%. Equities analysts predict that NGL Energy Partners LP will post 0.82 EPS for the current fiscal year.

NGL Energy Partners announced that its board has initiated a stock buyback program on Thursday, April 9th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the oil and gas company to buy up to 6.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On NGL Energy Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. acquired a new stake in shares of NGL Energy Partners during the third quarter valued at about $70,000. CIBC Private Wealth Group LLC purchased a new stake in shares of NGL Energy Partners during the third quarter worth about $70,000. LPL Financial LLC acquired a new position in shares of NGL Energy Partners in the fourth quarter worth about $120,000. Royal Bank of Canada lifted its stake in shares of NGL Energy Partners by 71.2% in the fourth quarter. Royal Bank of Canada now owns 14,454 shares of the oil and gas company’s stock worth $145,000 after acquiring an additional 6,009 shares in the last quarter. Finally, Quartz Partners LLC boosted its holdings in NGL Energy Partners by 6.8% in the first quarter. Quartz Partners LLC now owns 16,504 shares of the oil and gas company’s stock valued at $203,000 after purchasing an additional 1,052 shares during the last quarter. 40.62% of the stock is owned by hedge funds and other 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.