NGL Energy Partners (NYSE:NGL) Sees Strong Trading Volume – Here’s What Happened

NGL Energy Partners LP (NYSE:NGL) shares saw strong trading volume on Thursday . 516,380 shares changed hands during mid-day trading, an increase of 56% from the previous session’s volume of 330,618 shares.The stock last traded at $5.45 and had previously closed at $5.38.

NGL Energy Partners Stock Performance

The stock has a market capitalization of $717.47 million, a P/E ratio of -2.34 and a beta of 1.72. The business has a 50 day simple moving average of $4.95 and a 200-day simple moving average of $4.58.

NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings results on Tuesday, November 12th. The oil and gas company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.20). NGL Energy Partners had a negative net margin of 2.87% and a positive return on equity of 77.15%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the company posted ($0.05) earnings per share. Equities research analysts forecast that NGL Energy Partners LP will post 0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. XTX Topco Ltd acquired a new position in shares of NGL Energy Partners in the third quarter worth $46,000. Wealth Enhancement Advisory Services LLC purchased a new position in NGL Energy Partners in the third quarter valued at about $46,000. International Assets Investment Management LLC increased its position in NGL Energy Partners by 350.0% in the 3rd quarter. International Assets Investment Management LLC now owns 12,600 shares of the oil and gas company’s stock worth $57,000 after purchasing an additional 9,800 shares during the last quarter. FLC Capital Advisors purchased a new stake in shares of NGL Energy Partners during the 3rd quarter worth about $103,000. Finally, Van ECK Associates Corp lifted its holdings in shares of NGL Energy Partners by 42.4% during the 4th quarter. Van ECK Associates Corp now owns 31,672 shares of the oil and gas company’s stock valued at $158,000 after buying an additional 9,426 shares during the last quarter. 40.62% of the stock is 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.