NGL Energy Partners (NYSE:NGL) Sets New 1-Year High – Here’s What Happened

NGL Energy Partners LP (NYSE:NGL) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $10.38 and last traded at $10.47, with a volume of 65461 shares trading hands. The stock had previously closed at $10.20.

Analyst Upgrades and Downgrades

NGL has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of NGL Energy Partners in a research note on Friday, October 31st. Zacks Research upgraded shares of NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

NGL Energy Partners Trading Up 5.7%

The firm’s 50 day simple moving average is $9.78 and its two-hundred day simple moving average is $7.22. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -59.81 and a beta of 0.29.

NGL Energy Partners (NYSE:NGL) last released its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $0.02 earnings per share for the quarter. The company had revenue of $674.68 million during the quarter, compared to the consensus estimate of $508.49 million. NGL Energy Partners had a net margin of 3.29% and a negative return on equity of 53.56%. As a group, equities research analysts anticipate that NGL Energy Partners LP will post -0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its stake in NGL Energy Partners by 3.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,248,614 shares of the oil and gas company’s stock valued at $23,829,000 after purchasing an additional 165,249 shares in the last quarter. ELCO Management Co. LLC raised its position in shares of NGL Energy Partners by 26.2% in the 2nd quarter. ELCO Management Co. LLC now owns 197,580 shares of the oil and gas company’s stock valued at $844,000 after buying an additional 40,960 shares in the last quarter. Prescott Group Capital Management L.L.C. lifted its holdings in shares of NGL Energy Partners by 713.1% during the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 990,638 shares of the oil and gas company’s stock worth $4,230,000 after acquiring an additional 868,800 shares during the period. AlphaCore Capital LLC boosted its position in shares of NGL Energy Partners by 28.0% during the 2nd quarter. AlphaCore Capital LLC now owns 160,000 shares of the oil and gas company’s stock worth $683,000 after acquiring an additional 35,000 shares in the last quarter. Finally, CreativeOne Wealth LLC boosted its position in shares of NGL Energy Partners by 15.7% during the 2nd quarter. CreativeOne Wealth LLC now owns 17,700 shares of the oil and gas company’s stock worth $76,000 after acquiring an additional 2,400 shares in the last quarter. Institutional investors own 40.62% of the company’s stock.

NGL Energy Partners Company Profile

NGL Energy Partners LP is a publicly traded master limited partnership that provides midstream infrastructure and marketing services for the energy industry. The company focuses on the transportation, storage, fractionation and marketing of natural gas liquids (NGLs) and refined petroleum products. Through its integrated operations, NGL Energy Partners serves producers, processors, refiners and industrial customers across key U.S. energy-producing regions.

The partnership’s asset base includes pipelines, storage terminals, fractionation plants, and distribution facilities.