NGL Energy Partners LP (NYSE:NGL) Short Interest Update

NGL Energy Partners LP (NYSE:NGL) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 2,620,000 shares, a drop of 22.5% from the August 15th total of 3,380,000 shares. Based on an average trading volume of 428,000 shares, the days-to-cover ratio is currently 6.1 days. Approximately 2.3% of the company’s stock are short sold.

Hedge Funds Weigh In On NGL Energy Partners

Several institutional investors and hedge funds have recently modified their holdings of NGL. Goldman Sachs Group Inc. lifted its holdings in shares of NGL Energy Partners by 143.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,225,500 shares of the oil and gas company’s stock valued at $29,106,000 after buying an additional 3,078,422 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of NGL Energy Partners by 226.7% in the 4th quarter. BNP Paribas Financial Markets now owns 566,117 shares of the oil and gas company’s stock valued at $3,153,000 after buying an additional 392,823 shares during the period. ING Groep NV lifted its holdings in shares of NGL Energy Partners by 45.6% in the 4th quarter. ING Groep NV now owns 811,000 shares of the oil and gas company’s stock valued at $4,517,000 after buying an additional 253,900 shares during the period. Sanctuary Advisors LLC acquired a new position in NGL Energy Partners in the 2nd quarter worth about $721,000. Finally, NBW Capital LLC raised its holdings in NGL Energy Partners by 40.7% in the 1st quarter. NBW Capital LLC now owns 438,962 shares of the oil and gas company’s stock worth $2,528,000 after purchasing an additional 126,881 shares during the period. Institutional investors and hedge funds own 40.62% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut NGL Energy Partners from a “buy” rating to a “hold” rating in a research report on Monday, June 10th.

NGL Energy Partners Stock Performance

Shares of NGL opened at $4.31 on Monday. The stock has a 50-day moving average of $4.40 and a two-hundred day moving average of $5.22. NGL Energy Partners has a one year low of $3.68 and a one year high of $6.20. 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 stock has a market cap of $571.13 million, a P/E ratio of -2.02 and a beta of 1.67.

NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings results on Thursday, August 8th. The oil and gas company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.27). NGL Energy Partners had a positive return on equity of 36.54% and a negative net margin of 2.28%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the firm posted ($0.11) EPS. As a group, research analysts predict that NGL Energy Partners will post 0.33 EPS for the current year.

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.