NGL Energy Partners (NYSE:NGL) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• Shares of NGL Energy Partners crossed above their 200-day moving average
• Analyst sentiment is negative: Zacks downgraded the stock to a "strong sell", Weiss Ratings maintained a "hold (c)", and MarketBeat's consensus rating is "Reduce."
• NGL missed quarterly EPS ($0.10 vs. $0.16 expected) but beat revenue ($909.82M vs. $700.76M); the company has a $1.56B market cap, a very high P/E (~314), and analysts project -$0.22 EPS for the current year.

NGL Energy Partners LP (NYSE:NGL - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.61 and traded as high as $12.75. NGL Energy Partners shares last traded at $12.5750, with a volume of 183,354 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Zacks Research cut shares of NGL Energy Partners from a "hold" rating to a "strong sell" rating in a research report on Thursday, March 12th. Weiss Ratings restated a "hold (c)" rating on shares of NGL Energy Partners in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce".

NGL Energy Partners Stock Up 0.4%

The stock has a market cap of $1.56 billion, a P/E ratio of 314.45 and a beta of 0.39. The firm has a 50 day simple moving average of $11.88 and a 200-day simple moving average of $9.61.

NGL Energy Partners (NYSE:NGL - Get Free Report) last issued its earnings results on Tuesday, February 3rd. The oil and gas company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.06). NGL Energy Partners had a negative return on equity of 66.52% and a net margin of 5.01%.The business had revenue of $909.82 million for the quarter, compared to the consensus estimate of $700.76 million. On average, equities analysts anticipate that NGL Energy Partners LP will post -0.22 earnings per share for the current year.

Institutional Trading of NGL Energy Partners

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in shares of NGL Energy Partners by 18.7% during the 3rd quarter. Bank of America Corp DE now owns 11,728,872 shares of the oil and gas company's stock worth $70,373,000 after buying an additional 1,843,849 shares during the period. Goldman Sachs Group Inc. raised its holdings in NGL Energy Partners by 9.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 7,522,370 shares of the oil and gas company's stock valued at $75,224,000 after acquiring an additional 651,779 shares during the period. ING Groep NV lifted its position in NGL Energy Partners by 4.9% during the fourth quarter. ING Groep NV now owns 5,174,803 shares of the oil and gas company's stock worth $51,748,000 after acquiring an additional 243,000 shares during the last quarter. JPMorgan Chase & Co. lifted its position in NGL Energy Partners by 0.9% during the fourth quarter. JPMorgan Chase & Co. now owns 3,069,571 shares of the oil and gas company's stock worth $30,696,000 after acquiring an additional 28,659 shares during the last quarter. Finally, Angelo Gordon & CO. L.P. boosted its holdings in shares of NGL Energy Partners by 291.7% during the third quarter. Angelo Gordon & CO. L.P. now owns 2,504,447 shares of the oil and gas company's stock worth $15,027,000 after acquiring an additional 1,865,003 shares during the period. Institutional investors and hedge funds own 40.62% of the company's stock.

About NGL Energy Partners

NGL Energy Partners LP is a publicly traded master limited partnership that provides midstream infrastructure and marketing services for the energy industry. The company focuses on the transportation, storage, fractionation and marketing of natural gas liquids (NGLs) and refined petroleum products. Through its integrated operations, NGL Energy Partners serves producers, processors, refiners and industrial customers across key U.S. energy-producing regions.

The partnership's asset base includes pipelines, storage terminals, fractionation plants, and distribution facilities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.