NGL Energy Partners (NYSE:NGL) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• NGL Energy Partners' share price has surpassed its 200-day moving average of $4.13, reaching a recent high of $5.59 during trading.
• The company reported a quarterly earnings loss of ($0.27) per share, significantly missing the estimate of ($0.11), with a total revenue of $622.16 million against an expectation of $983.50 million.
• Approximately 40.62% of NGL Energy Partners' stock is owned by institutional investors and hedge funds, indicating significant interest from larger financial entities.

NGL Energy Partners LP (NYSE:NGL - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.13 and traded as high as $5.59. NGL Energy Partners shares last traded at $5.49, with a volume of 682,626 shares changing hands.

NGL Energy Partners Stock Down 0.8%

The firm has a 50 day moving average of $4.58 and a 200 day moving average of $4.14. The firm has a market cap of $735.78 million, a PE ratio of -14.04 and a beta of 0.41.

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) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.16). The firm had revenue of $622.16 million during the quarter, compared to the consensus estimate of $983.50 million. NGL Energy Partners had a negative return on equity of 43.75% and a net margin of 2.19%. On average, research analysts anticipate 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 institutional investors and hedge funds have recently made changes to their positions in the business. CreativeOne Wealth LLC increased 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 acquiring an additional 2,400 shares in the last quarter. Massar Capital Management LP boosted its holdings in NGL Energy Partners by 23.2% in the second quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company's stock worth $120,000 after purchasing an additional 5,295 shares during the last quarter. Cetera Investment Advisers boosted its holdings in 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 worth $1,262,000 after purchasing an additional 5,865 shares during the last quarter. Windsor Advisory Group LLC purchased a new stake in NGL Energy Partners in the first quarter worth approximately $45,000. Finally, Raymond James Financial Inc. purchased a new stake in NGL Energy Partners in the fourth quarter worth approximately $55,000. Institutional investors own 40.62% of the company's stock.

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.