NGL Energy Partners (NYSE:NGL) Shares Gap Down – What’s Next?

NGL Energy Partners LP (NYSE:NGL)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $4.81, but opened at $4.70. NGL Energy Partners shares last traded at $4.78, with a volume of 7,243 shares changing hands.

NGL Energy Partners Trading Up 2.1 %

The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 28.52. The firm has a market cap of $648.17 million, a P/E ratio of -2.12 and a beta of 1.75. The stock has a 50 day simple moving average of $4.42 and a 200-day simple moving average of $4.59.

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

Institutional Trading of NGL Energy Partners

Hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. increased its holdings in shares of NGL Energy Partners by 15.9% in the third quarter. Citigroup Inc. now owns 2,427,108 shares of the oil and gas company’s stock valued at $10,922,000 after purchasing an additional 333,531 shares during the period. ING Groep NV increased its holdings in NGL Energy Partners by 5.5% in the 3rd quarter. ING Groep NV now owns 1,561,803 shares of the oil and gas company’s stock worth $7,028,000 after acquiring an additional 80,803 shares in the last quarter. NBW Capital LLC grew its position in shares of NGL Energy Partners by 3.0% in the second quarter. NBW Capital LLC now owns 451,947 shares of the oil and gas company’s stock valued at $2,287,000 after purchasing an additional 12,985 shares during the period. Cetera Investment Advisers increased its stake in shares of NGL Energy Partners by 13.2% during the second quarter. Cetera Investment Advisers now owns 281,019 shares of the oil and gas company’s stock worth $1,422,000 after purchasing an additional 32,800 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in shares of NGL Energy Partners during the 3rd quarter worth about $900,000. 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.