NGL Energy Partners (NYSE:NGL) Shares Gap Down - Time to Sell?

Key Points

• NGL Energy Partners shares fell 2.9%, opening at $16.11 versus a prior close of $16.81, and last traded near $16.15.
• Analyst sentiment remains generally positive: Zacks upgraded the stock to “strong buy” and Wall Street Zen to “buy,” while MarketBeat reports an average rating of “Buy.”
• The company exceeded quarterly expectations, reporting $0.48 in earnings per share versus the $0.11 consensus estimate and revenue of $989.99 million versus $346.13 million expected; institutional investors own 40.62% of its stock.

NGL Energy Partners LP (NYSE:NGL - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $16.81, but opened at $16.11. NGL Energy Partners shares last traded at $16.15, with a volume of 81,775 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have commented on NGL. Zacks Research upgraded shares of NGL Energy Partners from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Wall Street Zen upgraded shares of NGL Energy Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Weiss Ratings cut shares of NGL Energy Partners from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy".

NGL Energy Partners Stock Down 2.9%

The firm's 50 day simple moving average is $16.08 and its 200 day simple moving average is $14.65. The company has a market capitalization of $2.04 billion, a PE ratio of -5.75 and a beta of 0.63.

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

Institutional Trading of NGL Energy Partners

Several institutional investors have recently added to or reduced their stakes in the company. Redwood Family Wealth LLC bought a new stake in shares of NGL Energy Partners during the 4th quarter worth approximately $549,000. ING Groep NV increased its stake in NGL Energy Partners by 4.9% in 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 purchasing an additional 243,000 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in NGL Energy Partners in the first quarter worth $397,000. UBS Group AG lifted its position in shares of NGL Energy Partners by 4.4% during the fourth quarter. UBS Group AG now owns 204,704 shares of the oil and gas company's stock worth $2,047,000 after purchasing an additional 8,561 shares during the last quarter. Finally, AlphaCore Capital LLC boosted its stake in shares of NGL Energy Partners by 9.9% during the fourth quarter. AlphaCore Capital LLC now owns 175,800 shares of the oil and gas company's stock valued at $1,758,000 after purchasing an additional 15,800 shares during the period. Institutional investors 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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