NGL Energy Partners (NYSE:NGL) Trading Down 2%

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of NGL Energy Partners from a “buy” rating to a “hold” rating in a report on Monday, June 10th.

NGL Energy Partners Trading Down 0.8 %

The stock’s fifty day simple moving average is $5.56 and its 200-day simple moving average is $5.65. The firm has a market cap of $651.95 million, a PE ratio of -2.33 and a beta of 1.69. The company has a debt-to-equity ratio of 28.52, a current ratio of 1.21 and a quick ratio of 1.07.

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

Institutional Trading of NGL Energy Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in NGL. Frazier Financial Advisors LLC acquired a new stake in shares of NGL Energy Partners in the fourth quarter worth $28,000. Visionary Horizons LLC acquired a new stake in NGL Energy Partners during the fourth quarter valued at $56,000. International Assets Investment Management LLC grew its position in NGL Energy Partners by 457.0% during the fourth quarter. International Assets Investment Management LLC now owns 15,596 shares of the oil and gas company’s stock valued at $87,000 after buying an additional 12,796 shares during the period. Counterpoint Mutual Funds LLC acquired a new stake in NGL Energy Partners during the fourth quarter valued at $104,000. Finally, Canvas Wealth Advisors LLC grew its position in NGL Energy Partners by 8.7% during the first quarter. Canvas Wealth Advisors LLC now owns 21,748 shares of the oil and gas company’s stock valued at $124,000 after buying an additional 1,748 shares during the period. 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.