NGL Energy Partners (NYSE:NGL) Sets New 12-Month Low – Here’s What Happened

Shares of NGL Energy Partners LP (NYSE:NGL) hit a new 52-week low during trading on Wednesday . The company traded as low as $3.84 and last traded at $4.24, with a volume of 83309 shares traded. The stock had previously closed at $4.13.

NGL Energy Partners Stock Performance

The stock has a 50-day moving average of $4.37 and a 200 day moving average of $4.78. The company has a debt-to-equity ratio of 28.52, a current ratio of 1.15 and a quick ratio of 0.96. The stock has a market capitalization of $583.04 million, a price-to-earnings ratio of -1.90 and a beta of 1.70.

Institutional Trading of NGL Energy Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NGL. Citigroup Inc. increased its position in NGL Energy Partners by 15.9% in the third quarter. Citigroup Inc. now owns 2,427,108 shares of the oil and gas company’s stock worth $10,922,000 after purchasing an additional 333,531 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in NGL Energy Partners during the third quarter worth about $900,000. Sanctuary Advisors LLC bought a new position in NGL Energy Partners during the second quarter worth about $721,000. NBW Capital LLC boosted its holdings in NGL Energy Partners by 40.7% during the first quarter. NBW Capital LLC now owns 438,962 shares of the oil and gas company’s stock worth $2,528,000 after buying an additional 126,881 shares during the last quarter. Finally, ING Groep NV boosted its holdings in NGL Energy Partners by 5.5% during the third quarter. ING Groep NV now owns 1,561,803 shares of the oil and gas company’s stock worth $7,028,000 after buying an additional 80,803 shares during the last quarter. 40.62% of the stock is currently 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.