NGL Energy Partners (NYSE:NGL) Sees Large Volume Increase - Should You Buy?

Key Points

• NGL Energy Partners’ trading volume rose 20% to 356,869 shares, while the stock traded near $17.01 versus a prior close of $16.33.
• Analyst sentiment is generally positive: MarketBeat reports an average “Buy” rating, with one Strong Buy and one Hold, despite mixed recent rating changes.
• The company beat quarterly expectations, reporting $0.48 earnings per share versus an estimated $0.11 and revenue of $989.99 million versus a $346.13 million consensus estimate; however, it still posted negative net margin and return on equity.

NGL Energy Partners LP (NYSE:NGL - Get Free Report) saw strong trading volume on Tuesday . 356,869 shares were traded during mid-day trading, an increase of 20% from the previous session's volume of 296,407 shares.The stock last traded at $17.0130 and had previously closed at $16.33.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NGL. Weiss Ratings downgraded shares of NGL Energy Partners from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, June 4th. Zacks Research raised NGL Energy Partners from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen upgraded NGL Energy Partners from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, NGL Energy Partners has an average rating of "Buy".

NGL Energy Partners Price Performance

The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of -6.08 and a beta of 0.63. The firm's fifty day moving average is $16.08 and its 200-day moving average is $14.69.

NGL Energy Partners (NYSE:NGL - Get Free Report) last released its earnings results on Tuesday, August 4th. The oil and gas company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.37. The company had revenue of $989.99 million during the quarter, compared to the consensus estimate of $346.13 million. NGL Energy Partners had a negative net margin of 3.76% and a negative return on equity of 39.51%. On average, sell-side analysts expect that NGL Energy Partners LP will post 1.38 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Carter Financial Group INC. lifted its holdings in NGL Energy Partners by 3.1% in the second quarter. Carter Financial Group INC. now owns 66,889 shares of the oil and gas company's stock worth $1,066,000 after acquiring an additional 2,000 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in NGL Energy Partners in the 1st quarter valued at about $397,000. Arkadios Wealth Advisors acquired a new position in shares of NGL Energy Partners during the first quarter valued at approximately $228,000. State of Wyoming increased its position in shares of NGL Energy Partners by 156.2% during the 1st quarter. State of Wyoming now owns 44,173 shares of the oil and gas company's stock valued at $545,000 after purchasing an additional 26,930 shares during the period. Finally, Cetera Investment Advisers grew its holdings in NGL Energy Partners by 2.6% during the first quarter. Cetera Investment Advisers now owns 250,049 shares of the oil and gas company's stock worth $3,083,000 after acquiring an additional 6,380 shares during the period. 40.62% of the stock is currently owned by institutional investors.

NGL Energy Partners Company Profile

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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