NGL Energy Partners (NYSE:NGL) Trading Down 3.1% – Time to Sell?

NGL Energy Partners LP (NYSE:NGL)’s stock price traded down 3.1% during trading on Friday . The stock traded as low as $4.65 and last traded at $4.65. 23,610 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 373,744 shares. The stock had previously closed at $4.80.

NGL Energy Partners Price Performance

The company’s 50 day simple moving average is $4.35 and its 200 day simple moving average is $5.06. The stock has a market cap of $604.25 million, a P/E ratio of -2.22 and a beta of 1.67. The company has a debt-to-equity ratio of 28.52, a current ratio of 1.15 and a quick ratio of 0.96.

NGL Energy Partners (NYSE:NGL) last released its quarterly earnings data on Thursday, August 8th. The oil and gas company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.27). The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.44 billion. NGL Energy Partners had a negative net margin of 2.28% and a positive return on equity of 36.54%. During the same quarter in the prior year, the company earned ($0.11) EPS. As a group, equities analysts forecast that NGL Energy Partners LP will post 0.33 earnings per share for the current year.

Institutional Investors Weigh In On NGL Energy Partners

Hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. increased its stake in NGL Energy Partners by 143.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,225,500 shares of the oil and gas company’s stock worth $29,106,000 after purchasing an additional 3,078,422 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of NGL Energy Partners in the second quarter valued at approximately $721,000. NBW Capital LLC boosted its holdings in shares of NGL Energy Partners by 40.7% in the first quarter. NBW Capital LLC now owns 438,962 shares of the oil and gas company’s stock valued at $2,528,000 after buying an additional 126,881 shares during the period. ELCO Management Co. LLC increased its position in shares of NGL Energy Partners by 100.1% during the second quarter. ELCO Management Co. LLC now owns 108,670 shares of the oil and gas company’s stock worth $550,000 after acquiring an additional 54,375 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of NGL Energy Partners during the first quarter worth $288,000. Institutional investors and hedge funds own 40.62% of the company’s stock.

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.