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

Shares of NGL Energy Partners LP (NYSE:NGL - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.52 and traded as high as $6.50. NGL Energy Partners shares last traded at $6.40, with a volume of 97,221 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "hold (c-)" rating on shares of NGL Energy Partners in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, NGL Energy Partners presently has an average rating of "Hold".

NGL Energy Partners Price Performance

The firm's fifty day moving average price is $5.89 and its 200-day moving average price is $4.52. The company has a market capitalization of $817.60 million, a price-to-earnings ratio of -15.60 and a beta of 0.38.

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

Insiders Place Their Bets

In related news, Director James M. Collingsworth acquired 100,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The stock was acquired at an average cost of $5.80 per share, for a total transaction of $580,000.00. Following the completion of the acquisition, the director directly owned 729,500 shares of the company's stock, valued at approximately $4,231,100. This trade represents a 15.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Institutional Trading of NGL Energy Partners

Institutional investors and hedge funds have recently bought and sold shares of the stock. Windsor Advisory Group LLC acquired a new stake in NGL Energy Partners in the first quarter valued at $45,000. State of Wyoming acquired a new stake in NGL Energy Partners in the first quarter valued at $51,000. CreativeOne Wealth LLC increased its holdings in NGL Energy Partners by 15.7% in the second quarter. CreativeOne Wealth LLC now owns 17,700 shares of the oil and gas company's stock valued at $76,000 after purchasing an additional 2,400 shares during the period. Massar Capital Management LP increased its holdings 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 valued at $120,000 after purchasing an additional 5,295 shares during the period. Finally, Simon Quick Advisors LLC acquired a new stake in NGL Energy Partners in the third quarter valued at $129,000. 40.62% of the stock is currently owned by institutional investors and hedge funds.

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.

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