NGL Energy Partners (NYSE:NGL) Sees Unusually-High Trading Volume – Still a Buy?

Shares of NGL Energy Partners LP (NYSE:NGL) saw strong trading volume on Thursday . 516,380 shares traded hands during trading, an increase of 56% from the previous session’s volume of 330,618 shares.The stock last traded at $5.45 and had previously closed at $5.38.

NGL Energy Partners Stock Performance

The company has a market cap of $717.47 million, a P/E ratio of -2.34 and a beta of 1.72. The firm has a 50 day moving average price of $4.95 and a 200-day moving average price of $4.58.

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). NGL Energy Partners had a positive return on equity of 77.15% and a negative net margin of 2.87%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the company earned ($0.05) EPS. On average, sell-side analysts forecast that NGL Energy Partners LP will post 0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On NGL Energy Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Citigroup Inc. increased its position in NGL Energy Partners by 15.9% during the third quarter. Citigroup Inc. now owns 2,427,108 shares of the oil and gas company’s stock worth $10,922,000 after acquiring an additional 333,531 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in shares of NGL Energy Partners during the 3rd quarter worth about $900,000. JPMorgan Chase & Co. increased its holdings 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 purchasing an additional 154,098 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of NGL Energy Partners during the second quarter valued at about $721,000. Finally, ING Groep NV lifted its stake in shares of NGL Energy Partners by 5.5% in the third quarter. ING Groep NV now owns 1,561,803 shares of the oil and gas company’s stock valued at $7,028,000 after buying an additional 80,803 shares during the period. 40.62% of the stock is owned by institutional investors and hedge funds.

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.