NGL Energy Partners (NYSE:NGL) Stock Price Up 7.4% - Here's What Happened

Key Points

• NGL Energy Partners LP's stock price increased by 7.4%, reaching $7.08, amidst a trading volume that was 57% lower than its average.
• The company reported a loss of ($0.27) EPS for the last quarter, falling short of the expected loss of ($0.11), and generated revenues of $622.16 million, significantly below analysts' expectations.
• Director James M. Collingsworth purchased 100,000 shares at $5.80 each, enhancing his ownership stake by 15.89%, which signifies growing confidence in the company's potential.

NGL Energy Partners LP (NYSE:NGL - Get Free Report) rose 7.4% on Thursday . The stock traded as high as $7.10 and last traded at $7.08. Approximately 224,527 shares were traded during trading, a decline of 57% from the average daily volume of 519,244 shares. The stock had previously closed at $6.59.

NGL Energy Partners Stock Performance

The firm has a fifty day simple moving average of $4.99 and a two-hundred day simple moving average of $4.24. The firm has a market cap of $805.46 million, a PE ratio of -15.37 and a beta of 0.41.

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 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 business had revenue of $622.16 million during the quarter, compared to analysts' expectations of $983.50 million. Equities analysts forecast that NGL Energy Partners LP will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling at NGL Energy Partners

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

Institutional Investors Weigh In On NGL Energy Partners

Large investors have recently added to or reduced their stakes in the stock. Prescott Group Capital Management L.L.C. raised its position in NGL Energy Partners by 713.1% during the second quarter. Prescott Group Capital Management L.L.C. now owns 990,638 shares of the oil and gas company's stock valued at $4,230,000 after purchasing an additional 868,800 shares during the period. Bank of America Corp DE lifted its stake in NGL Energy Partners by 8.8% in the second quarter. Bank of America Corp DE now owns 9,885,023 shares of the oil and gas company's stock worth $42,209,000 after purchasing an additional 797,895 shares during the last quarter. Angelo Gordon & CO. L.P. bought a new stake in NGL Energy Partners in the second quarter worth about $2,730,000. Nomura Holdings Inc. purchased a new position in shares of NGL Energy Partners during the first quarter valued at approximately $1,300,000. Finally, HighTower Advisors LLC grew its stake 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 valued at $1,250,000 after buying an additional 245,000 shares during the last quarter. 40.62% of the stock is owned by institutional investors.

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.