NGL Energy Partners (NYSE:NGL) Stock Price Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• NGL Energy Partners shares have crossed above the 200-day moving average, signaling a potential upward trend in stock performance.
• The company reported (-$0.27) earnings per share for its latest quarter, falling short of analyst expectations of (−$0.11) by a significant margin.
• As of now, approximately 40.62% of NGL Energy Partners' stock is owned by institutional investors, indicating strong institutional interest in the company.

NGL Energy Partners LP (NYSE:NGL - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.10 and traded as high as $5.22. NGL Energy Partners shares last traded at $5.21, with a volume of 1,400,424 shares.

NGL Energy Partners Price Performance

The stock has a market cap of $685.92 million, a price-to-earnings ratio of -13.09 and a beta of 0.39. The stock has a fifty day moving average of $4.48 and a 200 day moving average of $4.11.

NGL Energy Partners (NYSE:NGL - Get Free Report) last released its earnings results on Thursday, August 7th. The oil and gas company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.16). NGL Energy Partners had a negative return on equity of 43.75% and a net margin of 2.19%.The firm had revenue of $622.16 million for the quarter, compared to analyst estimates of $983.50 million. As a group, equities analysts expect that NGL Energy Partners LP will post -0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its position in NGL Energy Partners by 8.8% during the second quarter. Bank of America Corp DE now owns 9,885,023 shares of the oil and gas company's stock valued at $42,209,000 after acquiring an additional 797,895 shares in the last quarter. Goldman Sachs Group Inc. raised its position in NGL Energy Partners by 3.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,248,614 shares of the oil and gas company's stock valued at $23,829,000 after acquiring an additional 165,249 shares in the last quarter. Citigroup Inc. raised its position in NGL Energy Partners by 8.2% during the first quarter. Citigroup Inc. now owns 2,624,890 shares of the oil and gas company's stock valued at $11,917,000 after acquiring an additional 199,770 shares in the last quarter. ING Groep NV raised its position in NGL Energy Partners by 8.4% during the first quarter. ING Groep NV now owns 1,325,803 shares of the oil and gas company's stock valued at $6,019,000 after acquiring an additional 103,000 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. raised its position in NGL Energy Partners by 713.1% during the second quarter. Prescott Group Capital Management L.L.C. now owns 990,638 shares of the oil and gas company's stock valued at $4,230,000 after acquiring an additional 868,800 shares in the last quarter. 40.62% of the stock is currently owned by hedge funds and other institutional investors.

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.