NGL Energy Partners (NYSE:NGL) Stock Price Up 5.6% - What's Next?

Key Points

• NGL Energy Partners' stock price increased by 5.6% during trading, rising from a previous close of $4.90 to $5.18.
• The company reported a loss of ($0.27) earnings per share, significantly missing the consensus estimate of ($0.11), with quarterly revenue falling short of expectations at $622.16 million.
• Approximately 40.62% of NGL Energy Partners' stock is owned by institutional investors and hedge funds, indicating significant institutional interest in the company.

Shares of NGL Energy Partners LP (NYSE:NGL - Get Free Report) shot up 5.6% during trading on Monday . The stock traded as high as $5.19 and last traded at $5.18. 374,596 shares were traded during trading, a decline of 26% from the average session volume of 503,115 shares. The stock had previously closed at $4.90.

NGL Energy Partners Stock Performance

The stock has a market capitalization of $662.77 million, a P/E ratio of -12.62 and a beta of 0.39. The company's 50-day moving average price is $4.43 and its 200 day moving average price is $4.10.

NGL Energy Partners (NYSE:NGL - Get Free Report) last posted its 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). The company had revenue of $622.16 million for the quarter, compared to analysts' expectations of $983.50 million. NGL Energy Partners had a net margin of 2.19% and a negative return on equity of 43.75%. Analysts predict that NGL Energy Partners LP will post -0.22 earnings per share for the current year.

Hedge Funds Weigh In On NGL Energy Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. Windsor Advisory Group LLC purchased a new position in shares of NGL Energy Partners in the 1st quarter worth $45,000. Raymond James Financial Inc. bought a new stake in NGL Energy Partners during the 4th quarter valued at about $55,000. State of Wyoming bought a new stake in NGL Energy Partners during the 1st quarter valued at about $51,000. Two Sigma Securities LLC bought a new stake in NGL Energy Partners during the 4th quarter valued at about $59,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in NGL Energy Partners during the 4th quarter valued at about $61,000. 40.62% of the stock is owned by hedge funds and other 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.

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