NGL Energy Partners (NYSE:NGL) Shares Gap Down – Here’s Why

NGL Energy Partners LP (NYSE:NGL)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $4.81, but opened at $4.70. NGL Energy Partners shares last traded at $4.78, with a volume of 7,243 shares traded.

NGL Energy Partners Trading Up 2.1 %

The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 28.52. The company has a fifty day simple moving average of $4.42 and a 200-day simple moving average of $4.59. The company has a market capitalization of $648.17 million, a PE ratio of -2.12 and a beta of 1.75.

NGL Energy Partners (NYSE:NGL) last announced its quarterly earnings results on Tuesday, November 12th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.20). The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.56 billion. NGL Energy Partners had a positive return on equity of 77.15% and a negative net margin of 2.87%. During the same quarter in the prior year, the business earned ($0.05) EPS. Analysts predict that NGL Energy Partners LP will post 0.11 EPS for the current year.

Hedge Funds Weigh In On NGL Energy Partners

Several large investors have recently made changes to their positions in NGL. Tidal Investments LLC boosted its position in NGL Energy Partners by 33.3% in the 3rd quarter. Tidal Investments LLC now owns 35,527 shares of the oil and gas company’s stock valued at $160,000 after buying an additional 8,877 shares during the period. XTX Topco Ltd purchased a new stake in NGL Energy Partners during the 3rd quarter worth about $46,000. Citigroup Inc. raised its position 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 in the last quarter. ING Groep NV boosted its stake in shares of 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 buying an additional 80,803 shares during the period. Finally, Stephens Inc. AR increased its stake in shares of NGL Energy Partners by 49.0% during the third quarter. Stephens Inc. AR now owns 152,000 shares of the oil and gas company’s stock worth $684,000 after buying an additional 50,000 shares during the period. 40.62% of the stock is currently owned by institutional investors and hedge funds.

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.