NGL Energy Partners (NYSE:NGL) Stock Price Down 4% – What’s Next?

NGL Energy Partners LP (NYSE:NGL)’s stock price dropped 4% on Wednesday . The company traded as low as $13.00 and last traded at $13.05. Approximately 235,691 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 372,987 shares. The stock had previously closed at $13.59.

Analyst Upgrades and Downgrades

NGL has been the subject of several research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of NGL Energy Partners in a research note on Wednesday, January 28th. Zacks Research cut shares of NGL Energy Partners from a “hold” rating to a “strong sell” rating in a report on Thursday, March 12th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce”.

NGL Energy Partners Stock Down 4.6%

The firm has a market capitalization of $1.60 billion, a P/E ratio of 324.13 and a beta of 0.34. The company has a fifty day simple moving average of $11.53 and a 200 day simple moving average of $9.34.

NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.06). The company had revenue of $909.82 million for the quarter, compared to the consensus estimate of $700.76 million. NGL Energy Partners had a net margin of 5.01% and a negative return on equity of 66.52%. As a group, equities analysts expect that NGL Energy Partners LP will post -0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. ING Groep NV grew its holdings in shares of 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 valued at $29,591,000 after buying an additional 3,436,000 shares during the last quarter. 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 worth $15,027,000 after acquiring an additional 1,865,003 shares during the last quarter. Bank of America Corp DE raised its holdings in NGL Energy Partners by 18.7% in the 3rd 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 acquiring an additional 1,843,849 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in NGL Energy Partners by 9.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 7,522,370 shares of the oil and gas company’s stock valued at $75,224,000 after acquiring an additional 651,779 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in NGL Energy Partners by 2,963.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 292,261 shares of the oil and gas company’s stock valued at $1,754,000 after acquiring an additional 282,721 shares in the last quarter. 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.