NGL Energy Partners (NYSE:NGL) Shares Down 3.4% – Here’s Why

NGL Energy Partners LP (NYSE:NGL)’s stock price fell 3.4% during mid-day trading on Wednesday . The company traded as low as $9.86 and last traded at $9.78. 25,061 shares traded hands during trading, a decline of 95% from the average session volume of 477,085 shares. The stock had previously closed at $10.12.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NGL Energy Partners in a research note on Friday, October 31st. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

NGL Energy Partners Stock Down 3.4%

The company has a market capitalization of $1.23 billion, a P/E ratio of -54.33 and a beta of 0.30. The firm has a 50-day moving average price of $8.73 and a two-hundred day moving average price of $6.33.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. HighTower Advisors LLC boosted its stake in NGL Energy Partners by 809.1% during the first quarter. HighTower Advisors LLC now owns 275,280 shares of the oil and gas company’s stock worth $1,250,000 after buying an additional 245,000 shares in the last quarter. Jump Financial LLC raised its stake in shares of NGL Energy Partners by 213.1% in the 1st quarter. Jump Financial LLC now owns 69,500 shares of the oil and gas company’s stock valued at $316,000 after buying an additional 47,300 shares in the last quarter. State of Wyoming bought a new position in shares of NGL Energy Partners during the 1st quarter worth about $51,000. Nomura Holdings Inc. acquired a new stake in shares of NGL Energy Partners during the 1st quarter valued at about $1,300,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of NGL Energy Partners by 3.3% during the 1st 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 acquiring an additional 165,249 shares in the last quarter. 40.62% of the stock is currently owned by institutional investors and hedge funds.

About NGL Energy Partners

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.