NGL Energy Partners (NYSE:NGL) Shares Gap Down – Time to Sell?

NGL Energy Partners LP (NYSE:NGL) shares gapped down before the market opened on Monday . The stock had previously closed at $16.81, but opened at $16.11. NGL Energy Partners shares last traded at $16.15, with a volume of 81,775 shares changing hands.

Analyst Ratings Changes

Several research firms have issued reports on NGL. Zacks Research raised shares of NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Wall Street Zen raised shares of NGL Energy Partners from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings downgraded shares of NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

NGL Energy Partners Stock Down 2.9%

The stock has a market cap of $2.04 billion, a PE ratio of -5.75 and a beta of 0.63. The firm has a 50 day moving average price of $16.08 and a 200 day moving average price of $14.65.

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

Institutional Investors Weigh In On NGL Energy Partners

Several large investors have recently modified their holdings of the business. CIBC Private Wealth Group LLC purchased a new stake in shares of NGL Energy Partners in the 3rd quarter worth approximately $70,000. CIBC Bancorp USA Inc. purchased a new position in NGL Energy Partners during the third quarter valued at approximately $70,000. Massar Capital Management LP raised its stake in NGL Energy Partners by 23.2% in 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 in the fourth quarter worth approximately $120,000. Finally, State of Wyoming lifted its holdings in NGL Energy Partners by 184.0% during the second quarter. State of Wyoming now owns 32,202 shares of the oil and gas company’s stock worth $138,000 after buying an additional 20,864 shares during the period. Institutional investors own 40.62% of the company’s stock.

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.