NGL Energy Partners (NYSE:NGL) Shares Gap Down – What’s Next?

NGL Energy Partners LP (NYSE:NGL)’s share price gapped down before the market opened on Monday . The stock had previously closed at $4.66, but opened at $4.55. NGL Energy Partners shares last traded at $4.65, with a volume of 19,259 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com raised NGL Energy Partners from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th.

NGL Energy Partners Stock Up 0.5 %

The company has a market cap of $618.48 million, a PE ratio of -1.86 and a beta of 1.73. The business has a 50-day simple moving average of $5.04 and a 200-day simple moving average of $4.68.

NGL Energy Partners (NYSE:NGL) last released its earnings results on Monday, February 10th. The oil and gas company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.25). NGL Energy Partners had a negative net margin of 3.57% and a negative return on equity of 29.77%. On average, research analysts forecast that NGL Energy Partners LP will post -0.22 EPS for the current fiscal year.

Insider Activity at NGL Energy Partners

In related news, CEO H Michael Krimbill purchased 15,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $4.49 per share, with a total value of $67,350.00. Following the completion of the acquisition, the chief executive officer now owns 603,000 shares in the company, valued at $2,707,470. This trade represents a 2.55 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Institutional Investors Weigh In On NGL Energy Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in NGL Energy Partners during the third quarter worth $46,000. Raymond James Financial Inc. acquired a new stake in NGL Energy Partners during the fourth quarter worth $55,000. one8zero8 LLC acquired a new stake in NGL Energy Partners during the fourth quarter worth $58,000. Two Sigma Securities LLC acquired a new stake in NGL Energy Partners during the fourth quarter worth $59,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in NGL Energy Partners during the fourth quarter worth $61,000. Institutional investors and hedge funds own 40.62% of the company’s stock.

NGL Energy Partners Company Profile

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.