NGL Energy Partners (NYSE:NGL) Hits New 12-Month High - Time to Buy?

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.

NGL Energy Partners LP (NYSE:NGL - Get Free Report) shares 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 Price Performance

The company has a market cap of $740.36 million, a PE ratio of -14.15 and a beta of 0.41. The company has a 50-day moving average of $4.77 and a 200 day moving average of $4.18.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Windsor Advisory Group LLC purchased a new position in NGL Energy Partners in the first quarter worth about $45,000. State of Wyoming purchased a new position in shares of NGL Energy Partners during the first quarter valued at approximately $51,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of NGL Energy Partners during the fourth quarter valued at approximately $61,000. Scissortail Wealth Management LLC purchased a new position in shares of NGL Energy Partners during the fourth quarter valued at approximately $71,000. Finally, CreativeOne Wealth LLC boosted its position in shares of NGL Energy Partners by 15.7% during the second quarter. CreativeOne Wealth LLC now owns 17,700 shares of the oil and gas company's stock valued at $76,000 after buying an additional 2,400 shares during the period. Hedge funds and other institutional investors 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.