NGL Energy Partners (NYSE:NGL) Stock Price Down 5.6% - Time to Sell?

Key Points

• NGL Energy Partners shares fell 5.6% to about $17.91, with trading volume 72% below the average session volume.
• Despite the decline, analysts maintain a generally positive view, with a consensus “Buy” rating. The company reported quarterly EPS of $0.48, well above the $0.11 estimate, and revenue of nearly $990 million.
• Insiders purchased approximately 339,923 shares worth $5.75 million over the past three months, while institutional investors own 40.62% of the stock.

Shares of NGL Energy Partners LP (NYSE:NGL - Get Free Report) were down 5.6% on Tuesday . The company traded as low as $17.94 and last traded at $17.91. 82,863 shares changed hands during trading, a decline of 72% from the average session volume of 296,887 shares. The stock had previously closed at $18.97.

Analyst Ratings Changes

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

NGL Energy Partners Trading Down 4.9%

The stock's 50-day moving average price is $16.28 and its 200-day moving average price is $14.89. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -6.35 and a beta of 0.63.

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

Insiders Place Their Bets

In other news, Director John T. Raymond bought 300,000 shares of the stock in a transaction dated Tuesday, August 25th. The stock was bought at an average price of $16.98 per share, for a total transaction of $5,094,000.00. Following the completion of the acquisition, the director directly owned 376,626 shares in the company, valued at approximately $6,395,109.48. This trade represents a 391.51% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James M. Collingsworth purchased 10,808 shares of the company's stock in a transaction that occurred on Tuesday, August 25th. The shares were purchased at an average cost of $16.82 per share, for a total transaction of $181,790.56. Following the completion of the transaction, the director directly owned 764,308 shares of the company's stock, valued at $12,855,660.56. This represents a 1.43% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 339,923 shares of company stock valued at $5,750,003 in the last three months. 7.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NGL Energy Partners

Several hedge funds have recently modified their holdings of NGL. CIBC Bancorp USA Inc. bought a new position in shares of NGL Energy Partners in the third quarter valued at approximately $70,000. CIBC Private Wealth Group LLC purchased a new position in NGL Energy Partners in the third quarter worth $70,000. Massar Capital Management LP boosted its position in NGL Energy Partners by 23.2% in the second quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company's stock worth $120,000 after purchasing an additional 5,295 shares during the last quarter. LPL Financial LLC bought a new position in NGL Energy Partners in the 4th quarter valued at $120,000. Finally, State of Wyoming grew its stake 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 purchasing an additional 20,864 shares during the period. Institutional investors own 40.62% of the company's stock.

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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