NGL Energy Partners (NYSE:NGL) Sets New 12-Month High – Should You Buy?

NGL Energy Partners LP (NYSE:NGL) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $18.93 and last traded at $18.5340, with a volume of 280 shares traded. The stock had previously closed at $18.36.

Analysts Set New Price Targets

Several brokerages have issued reports on NGL. Weiss Ratings lowered shares of NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. 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, Zacks Research upgraded NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy”.

NGL Energy Partners Stock Performance

The firm has a fifty day moving average price of $16.04 and a 200 day moving average price of $14.58. The company has a market cap of $2.11 billion, a price-to-earnings ratio of -5.96 and a beta of 0.63.

NGL Energy Partners (NYSE:NGL) last issued its earnings results on Tuesday, August 4th. The oil and gas company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates 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. On average, analysts expect that NGL Energy Partners LP will post 1.38 EPS for the current fiscal year.

Institutional Investors Weigh In On NGL Energy Partners

A number of institutional investors and hedge funds have recently modified their holdings of the company. Segall Bryant & Hamill LLC acquired a new stake in NGL Energy Partners in the 1st quarter valued at about $397,000. Arkadios Wealth Advisors acquired a new position in NGL Energy Partners during the first quarter worth approximately $228,000. State of Wyoming raised its stake in NGL Energy Partners by 156.2% in the first 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. Cetera Investment Advisers raised its stake in NGL Energy Partners by 2.6% in the first quarter. Cetera Investment Advisers now owns 250,049 shares of the oil and gas company’s stock valued at $3,083,000 after buying an additional 6,380 shares during the period. Finally, Quartz Partners LLC lifted its position in shares of NGL Energy Partners by 6.8% in the first quarter. Quartz Partners LLC now owns 16,504 shares of the oil and gas company’s stock valued at $203,000 after buying an additional 1,052 shares during the last quarter. 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.