NGL Energy Partners (NYSE:NGL) Reaches New 12-Month High - What's Next?

Key Points

• NGL Energy Partners reached a new 52-week high of $18.93, with the stock recently trading around $18.53. Its 50-day and 200-day moving averages are $15.99 and $14.50, respectively.
• Analyst sentiment is generally positive: NGL has a consensus “Buy” rating, following upgrades from Zacks Research and Wall Street Zen, despite a downgrade from Weiss Ratings.
• The company exceeded quarterly expectations, reporting $0.48 in EPS versus an estimated $0.11 and revenue of $989.99 million versus a $346.13 million consensus estimate. Institutional investors and hedge funds own 40.62% of the stock.

NGL Energy Partners LP (NYSE:NGL - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $18.93 and last traded at $18.5340, with a volume of 280 shares traded. The stock had previously closed at $18.36.

Analysts Set New Price Targets

NGL has been the subject of a number of recent analyst reports. Zacks Research raised NGL Energy Partners from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Wall Street Zen raised NGL Energy Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Weiss Ratings cut shares of NGL Energy Partners from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, NGL Energy Partners currently has a consensus rating of "Buy".

NGL Energy Partners Trading Down 0.7%

The firm has a market cap of $2.28 billion, a price-to-earnings ratio of -6.39 and a beta of 0.63. The stock's 50 day moving average is $15.99 and its 200 day moving average is $14.50.

NGL Energy Partners (NYSE:NGL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.37. NGL Energy Partners had a negative net margin of 3.76% and a negative return on equity of 39.51%. The firm had revenue of $989.99 million during the quarter, compared to the consensus estimate of $346.13 million. On average, equities research analysts predict that NGL Energy Partners LP will post 1.38 EPS for the current year.

Institutional Trading of NGL Energy Partners

Hedge funds have recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC bought a new stake in NGL Energy Partners in the 1st quarter valued at $397,000. Arkadios Wealth Advisors bought a new position in NGL Energy Partners during the 1st quarter worth $228,000. State of Wyoming lifted its holdings in shares of NGL Energy Partners by 156.2% during the first quarter. State of Wyoming now owns 44,173 shares of the oil and gas company's stock worth $545,000 after buying an additional 26,930 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of NGL Energy Partners by 2.6% during the first quarter. Cetera Investment Advisers now owns 250,049 shares of the oil and gas company's stock worth $3,083,000 after buying an additional 6,380 shares in the last quarter. Finally, Quartz Partners LLC boosted its position in shares of NGL Energy Partners by 6.8% in the first quarter. Quartz Partners LLC now owns 16,504 shares of the oil and gas company's stock valued at $203,000 after acquiring an additional 1,052 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source