NGL Energy Partners (NYSE:NGL) Sees Strong Trading Volume – Should You Buy?

NGL Energy Partners LP (NYSE:NGL) saw strong trading volume on Friday . 775,629 shares were traded during mid-day trading, an increase of 61% from the previous session’s volume of 480,973 shares.The stock last traded at $4.81 and had previously closed at $4.51.

NGL Energy Partners Price Performance

The stock has a market capitalization of $627.71 million, a PE ratio of -2.05 and a beta of 1.71. The company’s 50 day moving average price is $5.06 and its two-hundred day moving average price is $4.61.

NGL Energy Partners (NYSE:NGL) last released its quarterly earnings results on Monday, February 10th. The oil and gas company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.25). NGL Energy Partners had a negative net margin of 2.87% and a positive return on equity of 77.15%. Analysts forecast that NGL Energy Partners LP will post 0.11 earnings per share for the current year.

Institutional Investors Weigh In On NGL Energy Partners

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in 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 buying an additional 154,098 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in NGL Energy Partners during the 3rd quarter worth approximately $900,000. Citigroup Inc. increased its stake in NGL Energy Partners by 15.9% during the 3rd quarter. Citigroup Inc. now owns 2,427,108 shares of the oil and gas company’s stock worth $10,922,000 after buying an additional 333,531 shares during the period. International Assets Investment Management LLC increased its stake in NGL Energy Partners by 350.0% during the 3rd quarter. International Assets Investment Management LLC now owns 12,600 shares of the oil and gas company’s stock worth $57,000 after buying an additional 9,800 shares during the period. Finally, Tidal Investments LLC increased its stake in NGL Energy Partners by 33.3% during the 3rd quarter. Tidal Investments LLC now owns 35,527 shares of the oil and gas company’s stock worth $160,000 after buying an additional 8,877 shares during the period. 40.62% of the stock is owned by hedge funds and other 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.