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

NGL Energy Partners LP (NYSE:NGL - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.22 and traded as high as $4.39. NGL Energy Partners shares last traded at $4.37, with a volume of 158,771 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut NGL Energy Partners from a "buy" rating to a "hold" rating in a research report on Monday, April 21st.

NGL Energy Partners Price Performance

The stock has a 50 day moving average price of $4.09 and a two-hundred day moving average price of $4.22. The company has a market capitalization of $561.04 million, a price-to-earnings ratio of -7.20 and a beta of 0.43.

NGL Energy Partners (NYSE:NGL - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The oil and gas company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.06. The business had revenue of $971.07 million for the quarter, compared to analysts' expectations of $1.05 billion. NGL Energy Partners had a negative return on equity of 47.87% and a net margin of 0.75%. Sell-side analysts forecast that NGL Energy Partners LP will post -0.22 EPS for the current fiscal year.

Institutional Trading of NGL Energy Partners

A number of hedge funds have recently bought and sold shares of NGL. Bank of America Corp DE raised its position in NGL Energy Partners by 27.3% during the 4th quarter. Bank of America Corp DE now owns 6,812,752 shares of the oil and gas company's stock valued at $33,996,000 after purchasing an additional 1,461,754 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of NGL Energy Partners in the 1st quarter worth $1,300,000. HighTower Advisors LLC boosted its stake in shares of NGL Energy Partners by 809.1% in the 1st quarter. HighTower Advisors LLC now owns 275,280 shares of the oil and gas company's stock worth $1,250,000 after buying an additional 245,000 shares during the last quarter. Citigroup Inc. lifted 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 purchasing an additional 199,770 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of NGL Energy Partners by 3.3% in 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. 40.62% of the stock is currently owned by institutional investors.

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.