NGL Energy Partners (NYSE:NGL) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• NGL Energy Partners' share price has recently surpassed its 200-day moving average of $4.31, reaching a peak of $6.22 during trading.
• The company reported a loss of $0.27 per share for the last quarter, significantly missing analysts' expectations of a $0.11 loss, with revenues also falling short at $622.16 million.
• Insider trading activity includes Director James M. Collingsworth purchasing an additional 100,000 shares at $5.80 each, increasing his ownership stake by nearly 15.89%.

NGL Energy Partners LP (NYSE:NGL - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.31 and traded as high as $6.22. NGL Energy Partners shares last traded at $6.03, with a volume of 257,500 shares changing hands.

NGL Energy Partners Trading Down 3.1%

The business's 50 day moving average price is $5.24 and its two-hundred day moving average price is $4.31. The company has a market capitalization of $770.92 million, a price-to-earnings ratio of -14.71 and a beta of 0.41.

NGL Energy Partners (NYSE:NGL - Get Free Report) last posted 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). NGL Energy Partners had a net margin of 2.19% and a negative return on equity of 43.75%. The company had revenue of $622.16 million during the quarter, compared to analyst estimates of $983.50 million. Analysts expect that NGL Energy Partners LP will post -0.22 EPS for the current year.

Insider Buying and Selling

In other NGL Energy Partners news, Director James M. Collingsworth bought 100,000 shares of the business's stock in a transaction that occurred on Friday, September 12th. The shares were acquired at an average cost of $5.80 per share, for a total transaction of $580,000.00. Following the transaction, the director directly owned 729,500 shares in the company, valued at approximately $4,231,100. This represents a 15.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Investors Weigh In On NGL Energy Partners

Hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC boosted its position in NGL Energy Partners by 809.1% during the 1st quarter. HighTower Advisors LLC now owns 275,280 shares of the oil and gas company's stock worth $1,250,000 after buying an additional 245,000 shares during the period. Nomura Holdings Inc. bought a new position in NGL Energy Partners during the 1st quarter worth approximately $1,300,000. Citigroup Inc. raised its holdings in NGL Energy Partners by 8.2% during the 1st quarter. Citigroup Inc. now owns 2,624,890 shares of the oil and gas company's stock worth $11,917,000 after purchasing an additional 199,770 shares during the last quarter. Jump Financial LLC raised its holdings in NGL Energy Partners by 213.1% during the 1st quarter. Jump Financial LLC now owns 69,500 shares of the oil and gas company's stock worth $316,000 after purchasing an additional 47,300 shares during the last quarter. Finally, NBW Capital LLC raised its holdings in NGL Energy Partners by 15.8% during the 1st quarter. NBW Capital LLC now owns 520,259 shares of the oil and gas company's stock worth $2,362,000 after purchasing an additional 70,924 shares during the last quarter. 40.62% of the stock is currently owned by institutional investors and hedge funds.

About NGL Energy Partners

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.