NGL Energy Partners (NYSE:NGL) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

NGL Energy Partners LP (NYSE:NGL)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.54 and traded as high as $5.23. NGL Energy Partners shares last traded at $5.18, with a volume of 683,070 shares traded.

NGL Energy Partners Stock Up 3.8 %

The firm’s 50 day moving average price is $4.53 and its 200-day moving average price is $4.54. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 28.52. The company has a market cap of $683.83 million, a P/E ratio of -2.23 and a beta of 1.75.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings results on Tuesday, November 12th. The oil and gas company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.20). The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.56 billion. NGL Energy Partners had a negative net margin of 2.87% and a positive return on equity of 77.15%. During the same period last year, the company earned ($0.05) EPS. As a group, equities research analysts expect that NGL Energy Partners LP will post 0.11 EPS for the current year.

Hedge Funds Weigh In On NGL Energy Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new position in NGL Energy Partners in the third quarter valued at about $46,000. XTX Topco Ltd acquired a new position in shares of NGL Energy Partners in the 3rd quarter valued at approximately $46,000. International Assets Investment Management LLC increased its stake in NGL Energy Partners by 350.0% during the 3rd 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 in the last quarter. FLC Capital Advisors acquired a new stake in NGL Energy Partners during the 3rd quarter worth approximately $103,000. Finally, Van ECK Associates Corp lifted its stake in 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 valued at $124,000 after buying an additional 5,128 shares in the last quarter. 40.62% of the stock is 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.