NGL Energy Partners (NYSE:NGL) Stock Passes Above 200 Day Moving Average – Here’s Why

NGL Energy Partners LP (NYSE:NGL)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.28 and traded as high as $12.58. NGL Energy Partners shares last traded at $12.4150, with a volume of 219,995 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NGL shares. Weiss Ratings reissued a “hold (c)” rating on shares of NGL Energy Partners in a research report on Wednesday, January 28th. Zacks Research lowered NGL Energy Partners from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

NGL Energy Partners Stock Performance

The business’s 50-day moving average price is $11.59 and its 200 day moving average price is $9.36. The company has a market cap of $1.60 billion, a P/E ratio of 324.13 and a beta of 0.34.

NGL Energy Partners (NYSE:NGL) last issued its earnings results on Tuesday, February 3rd. The oil and gas company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). NGL Energy Partners had a net margin of 5.01% and a negative return on equity of 66.52%. The firm had revenue of $909.82 million during the quarter, compared to the consensus estimate of $700.76 million. Equities research analysts forecast that NGL Energy Partners LP will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. CIBC Bancorp USA Inc. acquired a new stake in NGL Energy Partners during the 3rd quarter valued at $70,000. CIBC Private Wealth Group LLC acquired a new position in shares of NGL Energy Partners in the third quarter valued at $70,000. LPL Financial LLC acquired a new position in shares of NGL Energy Partners in the fourth quarter valued at $120,000. Royal Bank of Canada raised its position in shares of NGL Energy Partners by 71.2% in the fourth quarter. Royal Bank of Canada now owns 14,454 shares of the oil and gas company’s stock valued at $145,000 after purchasing an additional 6,009 shares during the period. Finally, State of Wyoming bought a new position in shares of NGL Energy Partners in the fourth quarter valued at about $172,000. 40.62% of the stock is owned by institutional investors and hedge funds.

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.