NGL Energy Partners (NYSE:NGL) Trading 6.4% Higher - Here's Why

Key Points

• NGL Energy Partners shares rose 6.4% on Monday, trading as high as $15.45 after closing at $14.55 the prior session. Trading volume was much lighter than usual, with 43,799 shares changing hands versus an average of 315,871.
• Analyst sentiment remains cautious, with the stock holding a consensus rating of Hold. Recent moves included Weiss Ratings lowering its view and Zacks Research upgrading the stock from strong sell to hold.
• The company reported a quarterly earnings miss, posting an EPS of -$0.71 versus expectations of $0.18, even though revenue of $949.51 million beat estimates. NGL also has a $100 million share buyback authorization in place, covering up to 6.1% of its stock.

NGL Energy Partners LP (NYSE:NGL - Get Free Report)'s share price was up 6.4% during mid-day trading on Monday . The company traded as high as $15.45 and last traded at $15.4750. 43,799 shares were traded during trading, a decline of 86% from the average daily volume of 315,871 shares. The stock had previously closed at $14.55.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Weiss Ratings lowered shares of NGL Energy Partners from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, June 4th. Zacks Research upgraded shares of NGL Energy Partners from a "strong sell" rating to a "hold" rating in a research note on Friday, April 10th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of "Hold".

NGL Energy Partners Stock Performance

The stock has a market cap of $1.95 billion, a P/E ratio of -4.76 and a beta of 0.60. The firm has a 50 day moving average of $16.32 and a two-hundred day moving average of $13.36.

NGL Energy Partners (NYSE:NGL - Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The oil and gas company reported ($0.71) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.89). NGL Energy Partners had a negative return on equity of 47.64% and a negative net margin of 4.51%.The business had revenue of $949.51 million for the quarter, compared to analyst estimates of $941.52 million. On average, sell-side analysts anticipate that NGL Energy Partners LP will post 0.82 EPS for the current fiscal year.

NGL Energy Partners declared that its board has approved a stock buyback plan on Thursday, April 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the oil and gas company to purchase up to 6.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board of directors believes its shares are undervalued.

Institutional Trading of NGL Energy Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CIBC Bancorp USA Inc. bought a new position in shares of NGL Energy Partners during the 3rd quarter worth about $70,000. CIBC Private Wealth Group LLC acquired a new stake in NGL Energy Partners during the third quarter worth about $70,000. Massar Capital Management LP increased its stake in NGL Energy Partners by 23.2% during 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 acquiring an additional 5,295 shares during the period. LPL Financial LLC bought a new position in NGL Energy Partners during the fourth quarter valued at about $120,000. Finally, State of Wyoming raised its holdings in NGL Energy Partners by 184.0% in the 2nd quarter. State of Wyoming now owns 32,202 shares of the oil and gas company's stock valued at $138,000 after acquiring an additional 20,864 shares in the last quarter. 40.62% of the stock is currently owned by institutional investors and hedge funds.

About NGL Energy Partners

NGL Energy Partners LP is a publicly traded master limited partnership that provides midstream infrastructure and marketing services for the energy industry. The company focuses on the transportation, storage, fractionation and marketing of natural gas liquids (NGLs) and refined petroleum products. Through its integrated operations, NGL Energy Partners serves producers, processors, refiners and industrial customers across key U.S. energy-producing regions.

The partnership's asset base includes pipelines, storage terminals, fractionation plants, and distribution facilities.

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