NGL Energy Partners (NYSE:NGL) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• NGL Energy Partners shares rose above their 200-day moving average, reaching $18.64 and last trading at $18.32 versus the $14.50 average. The stock was up 1.9% and has a market capitalization of approximately $2.29 billion.
• The company reported quarterly EPS of $0.48, exceeding analyst expectations of $0.11, while revenue reached $989.99 million versus the $346.13 million consensus estimate. Despite the earnings beat, NGL posted negative net margin and return on equity.
• Analyst sentiment is broadly positive, with one Strong Buy and one Hold rating producing an average “Buy” rating. Institutional investors and hedge funds own approximately 40.62% of the company’s stock.

NGL Energy Partners LP (NYSE:NGL - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $14.50 and traded as high as $18.64. NGL Energy Partners shares last traded at $18.32, with a volume of 373,732 shares changing hands.

Wall Street Analyst Weigh In

NGL has been the topic of a number of recent research reports. Wall Street Zen raised shares of NGL Energy Partners from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Weiss Ratings lowered shares of NGL Energy Partners from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, June 4th. Finally, Zacks Research raised shares of NGL Energy Partners from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy".

NGL Energy Partners Stock Up 1.9%

The stock has a 50 day simple moving average of $15.99 and a 200 day simple moving average of $14.50. The company has a market cap of $2.29 billion, a price-to-earnings ratio of -6.45 and a beta of 0.63.

NGL Energy Partners (NYSE:NGL - Get Free Report) last posted its earnings results on Tuesday, August 4th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.37. The business had revenue of $989.99 million during the quarter, compared to analyst estimates of $346.13 million. NGL Energy Partners had a negative return on equity of 39.51% and a negative net margin of 3.76%. As a group, equities research analysts expect that NGL Energy Partners LP will post 1.38 EPS for the current fiscal year.

Institutional Trading of NGL Energy Partners

Several large investors have recently bought and sold shares of NGL. Segall Bryant & Hamill LLC purchased a new stake in shares of NGL Energy Partners during the first quarter valued at approximately $397,000. Arkadios Wealth Advisors acquired a new stake in NGL Energy Partners during the 1st quarter valued at $228,000. State of Wyoming increased its stake in NGL Energy Partners by 156.2% during the 1st quarter. State of Wyoming now owns 44,173 shares of the oil and gas company's stock worth $545,000 after buying an additional 26,930 shares during the period. Cetera Investment Advisers increased its stake in NGL Energy Partners by 2.6% during the 1st quarter. Cetera Investment Advisers now owns 250,049 shares of the oil and gas company's stock worth $3,083,000 after buying an additional 6,380 shares during the period. Finally, Quartz Partners LLC increased its stake in NGL Energy Partners by 6.8% during the 1st quarter. Quartz Partners LLC now owns 16,504 shares of the oil and gas company's stock worth $203,000 after buying an additional 1,052 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.

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