NGL Energy Partners (NYSE:NGL) Hits New 52-Week High - Should You Buy?

Key Points

• Stock hit a new 52‑week high — NGL traded as high as $16.44 (last $16.337) and has a market cap of about $2.03 billion with 50/200‑day moving averages at $12.73/$10.73.
• Board authorized a $100 million share buyback, enabling repurchase of up to ~6.1% of outstanding shares, which management frames as a sign the stock may be undervalued.
• Analysts have a consensus Hold rating; recent results showed an EPS miss ($0.10 vs. $0.16) but a revenue beat ($909.8M vs. $700.8M), and the stock carries a very high P/E (~411).

NGL Energy Partners LP (NYSE:NGL - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $16.44 and last traded at $16.3370, with a volume of 111151 shares. The stock had previously closed at $15.85.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NGL shares. Weiss Ratings restated a "hold (c)" rating on shares of NGL Energy Partners in a research note on Monday, April 27th. Zacks Research upgraded shares of NGL Energy Partners from a "strong sell" rating to a "hold" rating in a research note on Friday, April 10th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, NGL Energy Partners has a consensus rating of "Hold".

NGL Energy Partners Stock Performance

The stock has a market capitalization of $2.03 billion, a P/E ratio of 410.98 and a beta of 0.58. The firm's fifty day simple moving average is $12.73 and its 200 day simple moving average is $10.73.

NGL Energy Partners (NYSE:NGL - Get Free Report) last released its earnings results on Tuesday, February 3rd. The oil and gas company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.06). The firm had revenue of $909.82 million during the quarter, compared to the consensus estimate of $700.76 million. NGL Energy Partners had a net margin of 5.01% and a negative return on equity of 66.52%. Analysts anticipate that NGL Energy Partners LP will post 0.03 earnings per share for the current fiscal year.

NGL Energy Partners announced that its board has authorized a share buyback program on Thursday, April 9th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 6.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Institutional Investors Weigh In On NGL Energy Partners

Institutional investors have recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. bought a new stake in NGL Energy Partners during the 3rd quarter worth approximately $70,000. CIBC Private Wealth Group LLC bought a new stake in NGL Energy Partners during the 3rd quarter worth approximately $70,000. Massar Capital Management LP grew its holdings in NGL Energy Partners by 23.2% during the 2nd quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company's stock worth $120,000 after acquiring an additional 5,295 shares during the last quarter. LPL Financial LLC bought a new stake in NGL Energy Partners during the 4th quarter worth approximately $120,000. Finally, Simon Quick Advisors LLC bought a new stake in NGL Energy Partners during the 3rd quarter worth approximately $129,000. 40.62% of the stock is owned by institutional investors.

NGL Energy Partners Company Profile

NGL Energy Partners LP is a publicly traded master limited partnership that provides midstream infrastructure and marketing services for the energy industry. The company focuses on the transportation, storage, fractionation and marketing of natural gas liquids (NGLs) and refined petroleum products. Through its integrated operations, NGL Energy Partners serves producers, processors, refiners and industrial customers across key U.S. energy-producing regions.

The partnership's asset base includes pipelines, storage terminals, fractionation plants, and distribution facilities.

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