NGL Energy Partners (NYSE:NGL) Share Price Passes Above 200-Day Moving Average – What’s Next?

NGL Energy Partners LP (NYSE:NGL) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.54 and traded as high as $5.23. NGL Energy Partners shares last traded at $5.18, with a volume of 683,070 shares changing hands.

NGL Energy Partners Stock Up 2.5 %

The firm has a market cap of $700.99 million, a P/E ratio of -2.29 and a beta of 1.72. The business’s fifty day moving average price is $4.55 and its two-hundred day moving average price is $4.54. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 28.52.

NGL Energy Partners (NYSE:NGL) last released its quarterly earnings data on Tuesday, November 12th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.20). NGL Energy Partners had a negative net margin of 2.87% and a positive return on equity of 77.15%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. As a group, equities research analysts anticipate that NGL Energy Partners LP will post 0.11 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NGL. Van ECK Associates Corp boosted its stake in shares of NGL Energy Partners by 26.4% during the 2nd quarter. Van ECK Associates Corp now owns 24,565 shares of the oil and gas company’s stock worth $124,000 after acquiring an additional 5,128 shares during the period. Tortoise Capital Advisors L.L.C. increased its holdings in shares of NGL Energy Partners by 11.1% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 68,234 shares of the oil and gas company’s stock worth $345,000 after buying an additional 6,834 shares in the last quarter. ELCO Management Co. LLC raised its holdings in NGL Energy Partners by 100.1% in the 2nd quarter. ELCO Management Co. LLC now owns 108,670 shares of the oil and gas company’s stock valued at $550,000 after buying an additional 54,375 shares during the last quarter. NBW Capital LLC grew its position in shares of NGL Energy Partners by 3.0% in the 2nd quarter. NBW Capital LLC now owns 451,947 shares of the oil and gas company’s stock valued at $2,287,000 after buying an additional 12,985 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of NGL Energy Partners by 13.2% in the 2nd quarter. Cetera Investment Advisers now owns 281,019 shares of the oil and gas company’s stock valued at $1,422,000 after purchasing an additional 32,800 shares during the last quarter. Institutional investors and hedge funds own 40.62% of the company’s stock.

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.