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

NGL Energy Partners LP (NYSE:NGL) shares passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $14.92 and traded as high as $15.42. NGL Energy Partners shares last traded at $14.96, with a volume of 144,041 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on NGL shares. Wall Street Zen upgraded NGL Energy Partners from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings downgraded shares of NGL Energy Partners from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 30th. Finally, Zacks Research cut NGL Energy Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, NGL Energy Partners has an average rating of “Reduce”.

NGL Energy Partners Price Performance

The firm’s 50 day moving average price is $16.17 and its 200-day moving average price is $14.92. The stock has a market cap of $1.87 billion, a P/E ratio of -4.44 and a beta of 0.89.

NGL Energy Partners (NYSE:NGL) last issued its earnings results on Thursday, November 5th. The oil and gas company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. The company had revenue of $986.55 million for the quarter, compared to analysts’ expectations of $869.29 million. NGL Energy Partners had a negative net margin of 5.37% and a negative return on equity of 38.44%. On average, analysts expect that NGL Energy Partners LP will post 1.38 earnings per share for the current year.

Insider Activity

In related news, Director John T. Raymond acquired 300,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was bought at an average cost of $16.98 per share, for a total transaction of $5,094,000.00. Following the purchase, the director owned 376,626 shares in the company, valued at $6,395,109.48. The trade was a 391.51% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James M. Collingsworth acquired 2,289 shares of NGL Energy Partners stock in a transaction dated Thursday, August 27th. The stock was purchased at an average cost of $17.00 per share, with a total value of $38,913.00. Following the completion of the purchase, the director owned 766,797 shares of the company’s stock, valued at approximately $13,035,549. This represents a 0.30% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 339,923 shares of company stock valued at $5,750,003 in the last 90 days. Company insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On NGL Energy Partners

Hedge funds have recently made changes to their positions in the business. Segall Bryant & Hamill LLC purchased a new position in NGL Energy Partners in the 1st quarter valued at approximately $397,000. State of Wyoming boosted its stake in shares of NGL Energy Partners by 156.2% in the 1st quarter. State of Wyoming now owns 44,173 shares of the oil and gas company’s stock valued at $545,000 after buying an additional 26,930 shares during the period. Arkadios Wealth Advisors purchased a new stake in shares of NGL Energy Partners during the first quarter worth approximately $228,000. Corient Private Wealth LP acquired a new stake in NGL Energy Partners in the second quarter valued at approximately $159,000. Finally, Cetera Investment Advisers grew its holdings in NGL Energy Partners by 2.6% during the 1st quarter. Cetera Investment Advisers now owns 250,049 shares of the oil and gas company’s stock worth $3,083,000 after acquiring an additional 6,380 shares in the last quarter. Institutional investors own 40.62% of the company’s stock.

About NGL Energy Partners

NGL Energy Partners LP is a publicly traded master limited partnership that provides energy logistics and water-management services in the United States. The company serves producers and other participants in the domestic crude oil and oilfield-water markets through infrastructure, transportation, handling and related services.

NGL’s Water Solutions segment gathers, transports, treats, recycles and disposes of produced water generated during oil and natural gas production. Its operations include water pipelines, storage facilities, treatment and recycling assets, disposal wells, freshwater services and truck transportation.