NGL Energy Partners (NYSE:NGL) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

NGL Energy Partners LP (NYSE:NGL)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.50 and traded as high as $18.64. NGL Energy Partners shares last traded at $18.32, with a volume of 373,732 shares trading hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NGL shares. Zacks Research upgraded shares of NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Wall Street Zen upgraded shares of NGL Energy Partners from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings cut shares of NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

NGL Energy Partners Stock Up 0.3%

The stock has a fifty day moving average price of $16.02 and a two-hundred day moving average price of $14.55. The company has a market cap of $2.18 billion, a price-to-earnings ratio of -6.14 and a beta of 0.63.

NGL Energy Partners (NYSE:NGL) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.11 by $0.37. NGL Energy Partners had a negative net margin of 3.76% and a negative return on equity of 39.51%. The business had revenue of $989.99 million for the quarter, compared to the consensus estimate of $346.13 million. Analysts predict that NGL Energy Partners LP will post 1.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. CIBC Private Wealth Group LLC acquired a new stake in shares of NGL Energy Partners in the third quarter valued at approximately $70,000. CIBC Bancorp USA Inc. acquired a new stake in NGL Energy Partners during the third quarter worth approximately $70,000. Massar Capital Management LP grew its position in NGL Energy Partners by 23.2% during the second quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company’s stock worth $120,000 after buying an additional 5,295 shares in the last quarter. LPL Financial LLC bought a new position in NGL Energy Partners during the 4th quarter worth $120,000. Finally, State of Wyoming increased its stake in NGL Energy Partners by 184.0% during the 2nd quarter. State of Wyoming now owns 32,202 shares of the oil and gas company’s stock worth $138,000 after acquiring an additional 20,864 shares during the period. 40.62% of the stock is owned by 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.