NGL Energy Partners (NYSE:NGL) Stock Price Down 3.1% – What’s Next?

NGL Energy Partners LP (NYSE:NGL)’s stock price dropped 3.1% during mid-day trading on Friday . The company traded as low as $4.65 and last traded at $4.65. Approximately 23,610 shares were traded during trading, a decline of 94% from the average daily volume of 373,744 shares. The stock had previously closed at $4.80.

NGL Energy Partners Stock Performance

The company has a debt-to-equity ratio of 28.52, a quick ratio of 0.96 and a current ratio of 1.15. The business has a 50 day moving average price of $4.36 and a two-hundred day moving average price of $5.05. The company has a market cap of $604.26 million, a P/E ratio of -2.14 and a beta of 1.67.

NGL Energy Partners (NYSE:NGL) last issued its earnings results on Thursday, August 8th. The oil and gas company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.27). The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.44 billion. NGL Energy Partners had a positive return on equity of 36.54% and a negative net margin of 2.28%. During the same period in the previous year, the firm earned ($0.11) earnings per share. On average, sell-side analysts anticipate that NGL Energy Partners LP will post 0.33 earnings per share for the current year.

Institutional Trading of NGL Energy Partners

Institutional investors have recently modified their holdings of the company. Van ECK Associates Corp raised its position in NGL Energy Partners by 26.4% during the 2nd quarter. Van ECK Associates Corp now owns 24,565 shares of the oil and gas company’s stock valued at $124,000 after purchasing an additional 5,128 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of NGL Energy Partners by 9.7% during the first quarter. Janney Montgomery Scott LLC now owns 32,210 shares of the oil and gas company’s stock valued at $186,000 after acquiring an additional 2,845 shares in the last quarter. Tidal Investments LLC lifted its stake in NGL Energy Partners by 42.4% in the first quarter. Tidal Investments LLC now owns 38,322 shares of the oil and gas company’s stock worth $221,000 after acquiring an additional 11,419 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in NGL Energy Partners in the first quarter valued at $271,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in NGL Energy Partners during the 1st quarter valued at $288,000. 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.