NGL Energy Partners (NYSE:NGL) Shares Gap Down – Here’s What Happened

NGL Energy Partners LP (NYSE:NGL)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $4.82, but opened at $4.65. NGL Energy Partners shares last traded at $4.65, with a volume of 20,471 shares traded.

NGL Energy Partners Stock Down 1.7 %

The company has a debt-to-equity ratio of 28.52, a current ratio of 1.21 and a quick ratio of 0.98. The company has a market cap of $625.73 million, a price-to-earnings ratio of -2.00 and a beta of 1.70. The firm has a 50-day moving average price of $4.41 and a 200 day moving average price of $4.67.

NGL Energy Partners (NYSE:NGL) last announced its earnings results on Tuesday, November 12th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.20). The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.56 billion. NGL Energy Partners had a positive return on equity of 77.15% and a negative net margin of 2.87%. During the same quarter in the previous year, the company earned ($0.05) EPS. Sell-side analysts predict that NGL Energy Partners LP will post 0.09 EPS for the current year.

Hedge Funds Weigh In On NGL Energy Partners

Several large investors have recently bought and sold shares of NGL. Van ECK Associates Corp lifted its stake in shares of NGL Energy Partners by 26.4% in the second quarter. Van ECK Associates Corp now owns 24,565 shares of the oil and gas company’s stock worth $124,000 after acquiring an additional 5,128 shares during the period. Tortoise Capital Advisors L.L.C. lifted its stake in shares of NGL Energy Partners by 11.1% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 68,234 shares of the oil and gas company’s stock valued at $345,000 after purchasing an additional 6,834 shares during the period. Tidal Investments LLC boosted its position in shares of NGL Energy Partners by 33.3% during the 3rd quarter. Tidal Investments LLC now owns 35,527 shares of the oil and gas company’s stock valued at $160,000 after purchasing an additional 8,877 shares in the last quarter. International Assets Investment Management LLC grew its stake in NGL Energy Partners by 350.0% during the third quarter. International Assets Investment Management LLC now owns 12,600 shares of the oil and gas company’s stock worth $57,000 after purchasing an additional 9,800 shares during the period. Finally, XTX Topco Ltd acquired a new position in NGL Energy Partners in the third quarter valued at approximately $46,000. 40.62% of the stock is currently owned by 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.