NGL Energy Partners (NYSE:NGL) Trading Down 3.6%

NGL Energy Partners LP (NYSE:NGL) dropped 3.6% during mid-day trading on Wednesday . The stock traded as low as $4.50 and last traded at $4.50. Approximately 16,903 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 392,173 shares. The stock had previously closed at $4.67.

Wall Street Analysts Forecast Growth

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

NGL Energy Partners Stock Down 1.7 %

The stock’s fifty day moving average price is $4.39 and its 200 day moving average price is $5.20. The stock has a market cap of $608.23 million, a P/E ratio of -2.19 and a beta of 1.67. The company has a current ratio of 1.15, a quick ratio of 0.96 and a debt-to-equity ratio of 28.52.

NGL Energy Partners (NYSE:NGL) last announced its earnings results on Thursday, August 8th. The oil and gas company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.27). The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.44 billion. NGL Energy Partners had a negative net margin of 2.28% and a positive return on equity of 36.54%. During the same quarter last year, the firm posted ($0.11) EPS. As a group, research analysts forecast that NGL Energy Partners LP will post 0.33 earnings per share for the current fiscal year.

Institutional Trading of NGL Energy Partners

Hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in NGL Energy Partners by 143.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,225,500 shares of the oil and gas company’s stock worth $29,106,000 after buying an additional 3,078,422 shares during the period. BNP Paribas Financial Markets increased its stake in shares of NGL Energy Partners by 3.4% in the 1st quarter. BNP Paribas Financial Markets now owns 585,490 shares of the oil and gas company’s stock valued at $3,372,000 after purchasing an additional 19,373 shares in the last quarter. NBW Capital LLC increased its stake in shares of NGL Energy Partners by 3.0% during the second quarter. NBW Capital LLC now owns 451,947 shares of the oil and gas company’s stock worth $2,287,000 after purchasing an additional 12,985 shares in the last quarter. Cetera Investment Advisers lifted its stake in NGL Energy Partners by 13.2% in the 2nd quarter. Cetera Investment Advisers now owns 281,019 shares of the oil and gas company’s stock worth $1,422,000 after purchasing an additional 32,800 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in NGL Energy Partners in the second quarter valued at approximately $721,000. 40.62% of the stock is owned by hedge funds and other institutional investors.

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.