NGL Energy Partners (NYSE:NGL) Shares Gap Down – What’s Next?

NGL Energy Partners LP (NYSE:NGL) gapped down before the market opened on Monday . The stock had previously closed at $4.66, but opened at $4.55. NGL Energy Partners shares last traded at $4.65, with a volume of 19,259 shares traded.

Analyst Ratings Changes

Separately, StockNews.com raised NGL Energy Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th.

NGL Energy Partners Trading Up 0.5 %

The company has a 50-day moving average of $5.04 and a 200-day moving average of $4.68. The company has a market capitalization of $618.48 million, a price-to-earnings ratio of -1.86 and a beta of 1.73.

NGL Energy Partners (NYSE:NGL) last announced its earnings results on Monday, February 10th. The oil and gas company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, research analysts expect that NGL Energy Partners LP will post -0.22 EPS for the current year.

Insider Activity

In other news, CEO H Michael Krimbill acquired 15,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $4.49 per share, with a total value of $67,350.00. Following the completion of the acquisition, the chief executive officer now owns 603,000 shares of the company’s stock, valued at approximately $2,707,470. This trade represents a 2.55 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NGL. Bank of America Corp DE increased its holdings in shares of NGL Energy Partners by 27.3% in the fourth quarter. Bank of America Corp DE now owns 6,812,752 shares of the oil and gas company’s stock valued at $33,996,000 after purchasing an additional 1,461,754 shares during the period. Citigroup Inc. grew its holdings in NGL Energy Partners by 15.9% during the third quarter. Citigroup Inc. now owns 2,427,108 shares of the oil and gas company’s stock worth $10,922,000 after acquiring an additional 333,531 shares during the period. JPMorgan Chase & Co. grew its holdings in NGL Energy Partners by 3.2% during the third 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. Prescott Group Capital Management L.L.C. grew its holdings in NGL Energy Partners by 282.7% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 121,838 shares of the oil and gas company’s stock worth $608,000 after acquiring an additional 90,000 shares during the period. Finally, Invesco Ltd. grew its holdings in NGL Energy Partners by 0.4% during the fourth quarter. Invesco Ltd. now owns 19,647,133 shares of the oil and gas company’s stock worth $98,039,000 after acquiring an additional 85,000 shares during the period. 40.62% of the stock is owned by institutional investors and hedge funds.

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.