NGL Energy Partners (NYSE:NGL) Share Price Passes Above 200 Day Moving Average – Here’s Why

Shares of NGL Energy Partners LP (NYSE:NGL) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $8.23 and traded as high as $12.10. NGL Energy Partners shares last traded at $12.01, with a volume of 344,513 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NGL. Weiss Ratings reissued a “hold (c)” rating on shares of NGL Energy Partners in a research report on Wednesday, January 28th. Zacks Research downgraded NGL Energy Partners from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

NGL Energy Partners Trading Up 0.9%

The firm has a market capitalization of $1.49 billion, a P/E ratio of 300.33 and a beta of 0.31. The stock’s 50-day simple moving average is $10.62 and its 200-day simple moving average is $8.26.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings in NGL Energy Partners by 3.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,248,614 shares of the oil and gas company’s stock worth $23,829,000 after acquiring an additional 165,249 shares during the last quarter. ELCO Management Co. LLC boosted its position in NGL Energy Partners by 26.2% during the second quarter. ELCO Management Co. LLC now owns 197,580 shares of the oil and gas company’s stock worth $844,000 after purchasing an additional 40,960 shares during the period. Prescott Group Capital Management L.L.C. increased its stake in shares of NGL Energy Partners by 713.1% in 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 purchasing an additional 868,800 shares in the last quarter. AlphaCore Capital LLC increased its stake in shares of NGL Energy Partners by 28.0% in the second quarter. AlphaCore Capital LLC now owns 160,000 shares of the oil and gas company’s stock worth $683,000 after purchasing an additional 35,000 shares in the last quarter. Finally, CreativeOne Wealth LLC raised its position in shares of NGL Energy Partners by 15.7% in the second quarter. CreativeOne Wealth LLC now owns 17,700 shares of the oil and gas company’s stock valued at $76,000 after purchasing an additional 2,400 shares during the period. 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 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.