NGL Energy Partners (NYSE:NGL) Trading Down 15.6% – Time to Sell?

NGL Energy Partners LP (NYSE:NGL)’s stock price traded down 15.6% on Friday . The stock traded as low as $3.89 and last traded at $3.86. 695,837 shares traded hands during mid-day trading, an increase of 95% from the average session volume of 356,309 shares. The stock had previously closed at $4.57.

Wall Street Analysts Forecast Growth

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

NGL Energy Partners Stock Down 17.4 %

The company has a market cap of $498.22 million, a PE ratio of -1.50 and a beta of 1.24. The firm has a fifty day simple moving average of $4.83 and a 200-day simple moving average of $4.71.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings data on Monday, February 10th. The oil and gas company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates 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%. Equities research analysts forecast that NGL Energy Partners LP will post -0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO H Michael Krimbill acquired 15,000 shares of NGL Energy Partners stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $4.49 per share, for a total transaction of $67,350.00. Following the completion of the transaction, the chief executive officer now directly owns 603,000 shares in the company, valued at approximately $2,707,470. This trade represents a 2.55 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Hedge Funds Weigh In On NGL Energy Partners

Large investors have recently modified their holdings of the business. Bank of America Corp DE raised its holdings in NGL Energy Partners by 27.3% during the fourth quarter. Bank of America Corp DE now owns 6,812,752 shares of the oil and gas company’s stock worth $33,996,000 after purchasing an additional 1,461,754 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of NGL Energy Partners by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,008,565 shares of the oil and gas company’s stock worth $22,539,000 after buying an additional 154,098 shares during the last quarter. Prescott Group Capital Management L.L.C. grew its stake in NGL Energy Partners by 282.7% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 121,838 shares of the oil and gas company’s stock valued at $608,000 after acquiring an additional 90,000 shares during the last quarter. Invesco Ltd. increased its holdings in NGL Energy Partners by 0.4% during the 4th quarter. Invesco Ltd. now owns 19,647,133 shares of the oil and gas company’s stock valued at $98,039,000 after acquiring an additional 85,000 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in NGL Energy Partners in the 4th quarter valued at approximately $182,000. 40.62% of the stock is owned by hedge funds and other institutional investors.

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.