NGL Energy Partners (NYSE:NGL) Trading 2.7% Higher – Time to Buy?

NGL Energy Partners LP (NYSE:NGL) shares shot up 2.7% during mid-day trading on Tuesday . The stock traded as high as $4.74 and last traded at $4.66. 23,919 shares were traded during mid-day trading, a decline of 93% from the average session volume of 353,835 shares. The stock had previously closed at $4.54.

Wall Street Analysts Forecast Growth

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

NGL Energy Partners Price Performance

The stock has a market cap of $613.86 million, a PE ratio of -1.85 and a beta of 1.73. The firm’s 50 day moving average price is $4.88 and its two-hundred day moving average price is $4.72.

NGL Energy Partners (NYSE:NGL) last posted 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 return on equity of 29.77% and a negative net margin of 3.57%. Analysts anticipate that NGL Energy Partners LP will post -0.22 earnings per share for the current year.

Insider Activity

In related news, CEO H Michael Krimbill purchased 15,000 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was acquired at an average price of $4.49 per share, with a total value of $67,350.00. Following the purchase, the chief executive officer now directly owns 603,000 shares in the company, valued at approximately $2,707,470. This represents a 2.55 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NGL. JPMorgan Chase & Co. raised its position 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 valued at $22,539,000 after purchasing an additional 154,098 shares in the last quarter. Prescott Group Capital Management L.L.C. raised its stake in shares of 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 in the last quarter. Van ECK Associates Corp lifted its holdings in shares of NGL Energy Partners by 42.4% in the 4th quarter. Van ECK Associates Corp now owns 31,672 shares of the oil and gas company’s stock worth $158,000 after acquiring an additional 9,426 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of 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 purchasing an additional 8,877 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of NGL Energy Partners during the 3rd quarter valued at $46,000. 40.62% of the stock is currently 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.