NGL Energy Partners (NYSE:NGL) Trading 4% Higher – Time to Buy?

Shares of NGL Energy Partners LP (NYSE:NGL) shot up 4% during mid-day trading on Monday . The stock traded as high as $9.80 and last traded at $9.77. 33,250 shares changed hands during trading, a decline of 93% from the average session volume of 474,496 shares. The stock had previously closed at $9.39.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of NGL Energy Partners in a research note on Friday, October 31st. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, NGL Energy Partners currently has a consensus rating of “Hold”.

NGL Energy Partners Price Performance

The company has a 50 day moving average price of $8.94 and a 200 day moving average price of $6.45. The firm has a market cap of $1.27 billion, a PE ratio of -56.06 and a beta of 0.29.

NGL Energy Partners (NYSE:NGL) last released its earnings results on Tuesday, November 4th. The oil and gas company reported $0.02 EPS for the quarter. NGL Energy Partners had a net margin of 3.29% and a negative return on equity of 53.56%. The company had revenue of $674.68 million during the quarter, compared to analysts’ expectations of $508.49 million. On average, equities analysts anticipate that NGL Energy Partners LP will post -0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NGL. ING Groep NV lifted its holdings 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 valued at $29,591,000 after purchasing an additional 3,436,000 shares in the last quarter. Angelo Gordon & CO. L.P. grew its holdings in NGL Energy Partners by 291.7% during 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 buying an additional 1,865,003 shares during the last quarter. Bank of America Corp DE grew its holdings in NGL Energy Partners by 18.7% during the 3rd quarter. Bank of America Corp DE now owns 11,728,872 shares of the oil and gas company’s stock valued at $70,373,000 after buying an additional 1,843,849 shares during the last quarter. Prescott Group Capital Management L.L.C. increased its position in NGL Energy Partners by 713.1% during the second quarter. Prescott Group Capital Management L.L.C. now owns 990,638 shares of the oil and gas company’s stock worth $4,230,000 after buying an additional 868,800 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new position in shares of NGL Energy Partners in the first quarter worth $1,300,000. 40.62% of the stock is owned by hedge funds and other 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.