NGL Energy Partners (NYSE:NGL) Stock Crosses Above Two Hundred Day Moving Average - What's Next?

NGL Energy Partners LP (NYSE:NGL - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.37 and traded as high as $6.15. NGL Energy Partners shares last traded at $6.14, with a volume of 170,482 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "hold (c-)" rating on shares of NGL Energy Partners in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of "Hold".

NGL Energy Partners Price Performance

The stock has a market cap of $784.36 million, a price-to-earnings ratio of -14.96 and a beta of 0.38. The business's 50-day simple moving average is $5.44 and its two-hundred day simple moving average is $4.37.

NGL Energy Partners (NYSE:NGL - Get Free Report) last issued its earnings results on Thursday, August 7th. The oil and gas company reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $983.50 million. Equities research analysts forecast that NGL Energy Partners LP will post -0.22 earnings per share for the current year.

Insiders Place Their Bets

In other NGL Energy Partners news, Director James M. Collingsworth purchased 100,000 shares of the business's stock in a transaction dated 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 completion of the acquisition, the director owned 729,500 shares in the company, valued at approximately $4,231,100. This trade represents a 15.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Hedge Funds Weigh In On NGL Energy Partners

Hedge funds have recently modified their holdings of the business. HighTower Advisors LLC lifted its holdings in shares of NGL Energy Partners by 809.1% during the first quarter. HighTower Advisors LLC now owns 275,280 shares of the oil and gas company's stock worth $1,250,000 after purchasing an additional 245,000 shares during the period. Nomura Holdings Inc. acquired a new position in shares of NGL Energy Partners during the first quarter worth $1,300,000. Citigroup Inc. lifted its holdings in shares of 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 worth $11,917,000 after purchasing an additional 199,770 shares during the period. Jump Financial LLC lifted its holdings in shares of NGL Energy Partners by 213.1% during the first quarter. Jump Financial LLC now owns 69,500 shares of the oil and gas company's stock worth $316,000 after purchasing an additional 47,300 shares during the period. Finally, NBW Capital LLC lifted its holdings in shares of NGL Energy Partners by 15.8% during the first quarter. NBW Capital LLC now owns 520,259 shares of the oil and gas company's stock worth $2,362,000 after purchasing an additional 70,924 shares during the period. Institutional investors and hedge funds 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.

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