NGL Energy Partners (NYSE:NGL) Sets New 1-Year High - What's Next?

Key Points

• NGL Energy Partners LP's stock reached a new 52-week high of $5.99 during trading, closing at $5.88 with a trading volume of 251,279 shares.
• The company reported a loss of ($0.27) EPS for the last quarter, missing analysts' estimates and generating revenue of $622.16 million, far below the projected $983.50 million.
• Institutional investors increased their stakes in NGL Energy Partners, with notable increases from CreativeOne Wealth LLC and Massar Capital Management LP, indicating growing interest from large investors.

Shares of NGL Energy Partners LP (NYSE:NGL - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $5.99 and last traded at $5.88, with a volume of 251279 shares traded. The stock had previously closed at $5.88.

NGL Energy Partners Trading Down 0.4%

The stock has a market capitalization of $741.02 million, a PE ratio of -14.14 and a beta of 0.41. The company's 50 day simple moving average is $4.77 and its 200 day simple moving average is $4.19.

NGL Energy Partners (NYSE:NGL - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The oil and gas company reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.16). The company had revenue of $622.16 million during the quarter, compared to analyst estimates of $983.50 million. NGL Energy Partners had a net margin of 2.19% and a negative return on equity of 43.75%. As a group, analysts predict that NGL Energy Partners LP will post -0.22 EPS for the current year.

Hedge Funds Weigh In On NGL Energy Partners

A number of hedge funds have recently made changes to their positions in the stock. CreativeOne Wealth LLC boosted its holdings in shares of NGL Energy Partners by 15.7% in the 2nd quarter. CreativeOne Wealth LLC now owns 17,700 shares of the oil and gas company's stock valued at $76,000 after purchasing an additional 2,400 shares during the last quarter. Massar Capital Management LP lifted its holdings in shares of 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 valued at $120,000 after acquiring an additional 5,295 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of NGL Energy Partners by 2.2% during the 1st quarter. Cetera Investment Advisers now owns 277,869 shares of the oil and gas company's stock valued at $1,262,000 after acquiring an additional 5,865 shares in the last quarter. Windsor Advisory Group LLC acquired a new position in shares of NGL Energy Partners during the 1st quarter valued at $45,000. Finally, State of Wyoming acquired a new position in shares of NGL Energy Partners during the 1st quarter valued at $51,000. Institutional investors and hedge funds own 40.62% of the company's stock.

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.