NGL Energy Partners (NYSE:NGL) Share Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• NGL Energy Partners' stock price has crossed above its 200-day moving average, trading at $6.62, significantly above the average of $4.22.
• The company reported a net loss of $0.27 per share, missing expectations, and posted revenues of $622.16 million, short of the forecasted $983.50 million.
• Insider transactions revealed that Director James M. Collingsworth purchased 100,000 shares at $5.80 each, increasing his stake in the company by 15.89%.

NGL Energy Partners LP (NYSE:NGL - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.22 and traded as high as $6.71. NGL Energy Partners shares last traded at $6.62, with a volume of 724,775 shares changing hands.

NGL Energy Partners Trading Down 4.6%

The business has a 50-day moving average price of $4.99 and a 200 day moving average price of $4.24. The stock has a market capitalization of $848.92 million, a P/E ratio of -16.20 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). NGL Energy Partners had a net margin of 2.19% and a negative return on equity of 43.75%. The company had revenue of $622.16 million for the quarter, compared to analysts' expectations of $983.50 million. On average, sell-side analysts predict that NGL Energy Partners LP will post -0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director James M. Collingsworth purchased 100,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were bought at an average price of $5.80 per share, for a total transaction of $580,000.00. Following the acquisition, the director owned 729,500 shares of the company's stock, valued at approximately $4,231,100. This represents a 15.89% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Institutional Trading of NGL Energy Partners

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Windsor Advisory Group LLC purchased a new stake in NGL Energy Partners during the 1st quarter valued at $45,000. State of Wyoming purchased a new stake in NGL Energy Partners during the 1st quarter valued at $51,000. CreativeOne Wealth LLC raised its holdings in NGL Energy Partners by 15.7% during the 2nd quarter. CreativeOne Wealth LLC now owns 17,700 shares of the oil and gas company's stock valued at $76,000 after buying an additional 2,400 shares during the period. Massar Capital Management LP increased its stake 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 period. Finally, Jane Street Group LLC purchased a new stake in NGL Energy Partners in the fourth quarter worth $182,000. Hedge funds and other institutional investors own 40.62% of the company's stock.

NGL Energy Partners Company Profile

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.