NGL Energy Partners (NYSE:NGL) Stock Price Down 2%

NGL Energy Partners LP (NYSE:NGL) was down 2% on Wednesday . The company traded as low as $4.96 and last traded at $4.96. Approximately 8,989 shares changed hands during trading, a decline of 98% from the average daily volume of 426,713 shares. The stock had previously closed at $5.06.

Analyst Ratings Changes

Separately, StockNews.com lowered NGL Energy Partners from a “buy” rating to a “hold” rating in a research note on Monday, June 10th.

NGL Energy Partners Trading Down 0.8 %

The company has a 50 day moving average price of $5.52 and a 200 day moving average price of $5.64. The company has a quick ratio of 1.07, a current ratio of 1.21 and a debt-to-equity ratio of 28.52.

NGL Energy Partners (NYSE:NGL) last announced its quarterly earnings results on Thursday, June 6th. The oil and gas company reported ($0.38) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.57). NGL Energy Partners had a negative net margin of 2.07% and a positive return on equity of 20.54%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.97 billion. Equities analysts forecast that NGL Energy Partners LP will post 1.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NGL Energy Partners

Several large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its stake in shares of NGL Energy Partners by 143.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,225,500 shares of the oil and gas company’s stock valued at $29,106,000 after purchasing an additional 3,078,422 shares during the last quarter. Fractal Investments LLC raised its holdings in shares of NGL Energy Partners by 316.3% in the 4th quarter. Fractal Investments LLC now owns 832,479 shares of the oil and gas company’s stock valued at $4,637,000 after buying an additional 632,492 shares during the period. ING Groep NV raised its holdings in shares of NGL Energy Partners by 45.6% in the 4th quarter. ING Groep NV now owns 811,000 shares of the oil and gas company’s stock valued at $4,517,000 after buying an additional 253,900 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of NGL Energy Partners by 3.4% in the 1st quarter. BNP Paribas Financial Markets now owns 585,490 shares of the oil and gas company’s stock valued at $3,372,000 after buying an additional 19,373 shares during the period. Finally, NBW Capital LLC raised its holdings in shares of NGL Energy Partners by 40.7% in the 1st quarter. NBW Capital LLC now owns 438,962 shares of the oil and gas company’s stock valued at $2,528,000 after buying an additional 126,881 shares during the period. Institutional investors and hedge funds own 40.62% of the company’s stock.

About NGL Energy Partners

NGL Energy Partners LP engages in the transportation, storage, blending, and marketing of crude oil, natural gas liquids, refined products / renewables, and water solutions. The company operates in three segments: Water Solutions, Crude Oil Logistics, and Liquids Logistics. The Water Solutions segment transports, treats, recycles, and disposes produced and flowback water generated from oil and natural gas production; aggregates and sells recovered crude oil; disposes solids, such as tank bottoms, and drilling fluid and muds, as well as performs truck and frac tank washouts; and sells produced water for reuse and recycle, and brackish non-potable water.