NGL Energy Partners (NYSE:NGL) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

NGL Energy Partners LP (NYSE:NGL) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.67 and traded as high as $9.79. NGL Energy Partners shares last traded at $9.6650, with a volume of 138,117 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of NGL Energy Partners in a report on Friday, October 31st. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

NGL Energy Partners Stock Performance

The company has a 50-day moving average of $7.64 and a 200-day moving average of $5.67. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -23.57 and a beta of 0.29.

NGL Energy Partners (NYSE:NGL) last announced its earnings results on Tuesday, November 4th. The oil and gas company reported $0.02 EPS for the quarter. NGL Energy Partners had a negative return on equity of 43.75% and a net margin of 2.19%.The firm had revenue of $674.68 million for the quarter, compared to analysts’ expectations of $508.49 million. As a group, analysts expect that NGL Energy Partners LP will post -0.22 earnings per share for the current year.

Insider Activity at NGL Energy Partners

In related news, Director James M. Collingsworth acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was purchased at an average price of $5.80 per share, for a total transaction of $580,000.00. Following the transaction, the director owned 729,500 shares in the company, valued at $4,231,100. This trade represents a 15.89% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Institutional Investors Weigh In On NGL Energy Partners

Several hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of 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 buying an additional 1,843,849 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in 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 acquiring an additional 165,249 shares during the last quarter. ING Groep NV boosted its position in NGL Energy Partners by 229.7% during 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 acquiring an additional 3,436,000 shares during the last quarter. Citigroup Inc. grew its stake in NGL Energy Partners by 8.2% in the 1st quarter. Citigroup Inc. now owns 2,624,890 shares of the oil and gas company’s stock worth $11,917,000 after acquiring an additional 199,770 shares during the period. Finally, Angelo Gordon & CO. L.P. raised its holdings in NGL Energy Partners by 291.7% in the 3rd quarter. Angelo Gordon & CO. L.P. now owns 2,504,447 shares of the oil and gas company’s stock valued at $15,027,000 after acquiring an additional 1,865,003 shares during the last quarter. 40.62% of the stock is owned by institutional investors and hedge funds.

About NGL Energy Partners

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.