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

Key Points

• NGL Energy Partners shares reached a new 52-week high at $6.14, with a trading volume of 176,244 shares.
• The company reported a quarterly loss of ($0.27) EPS, significantly missing the consensus estimate of (0.11), and its revenue was below analyst expectations.
• Approximately 40.62% of NGL Energy Partners' stock is currently held by institutional investors, indicating significant interest from large investment firms.

Shares of NGL Energy Partners LP (NYSE:NGL - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $6.11 and last traded at $6.14, with a volume of 176244 shares traded. The stock had previously closed at $5.75.

NGL Energy Partners Price Performance

The company's 50-day simple moving average is $4.80 and its 200-day simple moving average is $4.19. The stock has a market capitalization of $792.03 million, a price-to-earnings ratio of -15.10 and a beta of 0.41.

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

Institutional Investors Weigh In On NGL Energy Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in NGL. Jane Street Group LLC acquired a new stake in shares of NGL Energy Partners in the fourth quarter valued at approximately $182,000. Cresset Asset Management LLC acquired a new stake in shares of NGL Energy Partners in the fourth quarter valued at approximately $109,000. Tidal Investments LLC raised its position in shares of NGL Energy Partners by 37.2% in the fourth quarter. Tidal Investments LLC now owns 48,743 shares of the oil and gas company's stock valued at $243,000 after buying an additional 13,216 shares in the last quarter. Inscription Capital LLC acquired a new stake in shares of NGL Energy Partners in the first quarter valued at approximately $182,000. Finally, Cetera Investment Advisers raised its position in shares of NGL Energy Partners by 2.2% in the first quarter. Cetera Investment Advisers now owns 277,869 shares of the oil and gas company's stock valued at $1,262,000 after buying an additional 5,865 shares in the last quarter. 40.62% of the stock is currently owned by institutional investors and hedge funds.

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.

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