NGL Energy Partners (NYSE:NGL) Shares Gap Down Following Weak Earnings

NGL Energy Partners LP (NYSE:NGL) shares gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $5.50, but opened at $4.99. NGL Energy Partners shares last traded at $4.84, with a volume of 127,829 shares changing hands.

The oil and gas company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.25). NGL Energy Partners had a positive return on equity of 77.15% and a negative net margin of 2.87%.

Institutional Investors Weigh In On NGL Energy Partners

Several institutional investors and hedge funds have recently made changes to their positions in the stock. one8zero8 LLC acquired a new stake in NGL Energy Partners during the 4th quarter valued at approximately $58,000. Prescott Group Capital Management L.L.C. lifted its holdings in NGL Energy Partners by 282.7% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 121,838 shares of the oil and gas company’s stock valued at $608,000 after buying an additional 90,000 shares during the period. Raymond James Financial Inc. bought a new stake in NGL Energy Partners during the fourth quarter valued at $55,000. Van ECK Associates Corp grew its holdings in NGL Energy Partners by 42.4% during the 4th quarter. Van ECK Associates Corp now owns 31,672 shares of the oil and gas company’s stock worth $158,000 after acquiring an additional 9,426 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of NGL Energy Partners by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,008,565 shares of the oil and gas company’s stock worth $22,539,000 after acquiring an additional 154,098 shares in the last quarter. Institutional investors and hedge funds own 40.62% of the company’s stock.

NGL Energy Partners Stock Performance

The business has a 50 day moving average price of $5.08 and a 200-day moving average price of $4.61. The company has a market capitalization of $620.45 million, a price-to-earnings ratio of -2.03 and a beta of 1.71.

About NGL Energy Partners

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.