NGL Energy Partners (NYSE:NGL) Trading 7.8% Higher - Here's What Happened

NGL Energy Partners LP (NYSE:NGL - Get Free Report) shot up 7.8% during trading on Monday . The stock traded as high as $4.09 and last traded at $4.10. 345,971 shares changed hands during mid-day trading, a decline of 8% from the average session volume of 377,217 shares. The stock had previously closed at $3.80.

Analysts Set New Price Targets

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

NGL Energy Partners Stock Performance

The firm's 50-day moving average price is $3.31 and its two-hundred day moving average price is $4.33. The stock has a market cap of $572.94 million, a price-to-earnings ratio of -1.72 and a beta of 0.36.

NGL Energy Partners (NYSE:NGL - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $971.07 million for the quarter, compared to analysts' expectations of $1.05 billion. NGL Energy Partners had a negative net margin of 3.57% and a negative return on equity of 29.77%. As a group, sell-side analysts expect that NGL Energy Partners LP will post -0.22 earnings per share for the current fiscal year.

Institutional Trading of NGL Energy Partners

Several institutional investors and hedge funds have recently bought and sold shares of NGL. Windsor Advisory Group LLC purchased a new stake in NGL Energy Partners during the first quarter worth about $45,000. Raymond James Financial Inc. purchased a new stake in shares of NGL Energy Partners during the fourth quarter worth approximately $55,000. State of Wyoming purchased a new stake in shares of NGL Energy Partners during the first quarter worth approximately $51,000. one8zero8 LLC acquired a new position in NGL Energy Partners in the fourth quarter valued at approximately $58,000. Finally, Two Sigma Securities LLC acquired a new position in NGL Energy Partners in the fourth quarter valued at approximately $59,000. 40.62% of the stock is currently 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.