NGL Energy Partners (NYSE:NGL) Shares Gap Up – Time to Buy?

NGL Energy Partners LP (NYSE:NGL) shares gapped up before the market opened on Monday . The stock had previously closed at $4.77, but opened at $4.90. NGL Energy Partners shares last traded at $4.75, with a volume of 11,840 shares.

NGL Energy Partners Price Performance

The stock has a market cap of $603.96 million, a P/E ratio of -1.82 and a beta of 1.71. The business’s 50 day simple moving average is $5.09 and its 200 day simple moving average is $4.63.

NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings results on Monday, February 10th. The oil and gas company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.25). NGL Energy Partners had a negative net margin of 3.57% and a negative return on equity of 29.77%. Research analysts predict that NGL Energy Partners LP will post -0.22 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO H Michael Krimbill purchased 15,000 shares of NGL Energy Partners stock in a transaction dated Thursday, February 13th. The shares were bought at an average cost of $4.49 per share, with a total value of $67,350.00. Following the completion of the transaction, the chief executive officer now directly owns 603,000 shares in the company, valued at $2,707,470. This trade represents a 2.55 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Investors Weigh In On NGL Energy Partners

Institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its stake in NGL Energy Partners by 0.4% in the 4th quarter. Invesco Ltd. now owns 19,647,133 shares of the oil and gas company’s stock valued at $98,039,000 after buying an additional 85,000 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of NGL Energy Partners by 27.3% during the 4th quarter. Bank of America Corp DE now owns 6,812,752 shares of the oil and gas company’s stock worth $33,996,000 after acquiring an additional 1,461,754 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of NGL Energy Partners by 3.2% during 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 during the period. Citigroup Inc. lifted its stake in NGL Energy Partners by 15.9% in the 3rd quarter. Citigroup Inc. now owns 2,427,108 shares of the oil and gas company’s stock valued at $10,922,000 after purchasing an additional 333,531 shares during the last quarter. Finally, ING Groep NV increased its position in NGL Energy Partners by 5.5% in the 3rd quarter. ING Groep NV now owns 1,561,803 shares of the oil and gas company’s stock valued at $7,028,000 after acquiring an additional 80,803 shares during the period. 40.62% of the stock is owned by institutional investors.

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.