NGL Energy Partners (NYSE:NGL) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of NGL Energy Partners LP (NYSE:NGL) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.14 and traded as high as $10.21. NGL Energy Partners shares last traded at $10.19, with a volume of 286,398 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Zacks Research raised shares of NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NGL Energy Partners in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, NGL Energy Partners presently has an average rating of “Buy”.

NGL Energy Partners Price Performance

The firm has a market capitalization of $1.29 billion, a P/E ratio of -56.83 and a beta of 0.29. The firm’s 50 day simple moving average is $9.78 and its two-hundred day simple moving average is $7.18.

NGL Energy Partners (NYSE:NGL) last announced 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 negative return on equity of 53.56% and a net margin of 3.29%.The firm had revenue of $674.68 million for the quarter, compared to analysts’ expectations of $508.49 million. As a group, equities research analysts forecast that NGL Energy Partners LP will post -0.22 EPS for the current year.

Institutional Investors Weigh In On NGL Energy Partners

A number of large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in shares of NGL Energy Partners by 3.3% during the first 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 during the last quarter. ELCO Management Co. LLC increased its holdings in NGL Energy Partners by 26.2% during the 2nd quarter. ELCO Management Co. LLC now owns 197,580 shares of the oil and gas company’s stock valued at $844,000 after purchasing an additional 40,960 shares during the period. Prescott Group Capital Management L.L.C. raised its position in NGL Energy Partners by 713.1% during the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 990,638 shares of the oil and gas company’s stock valued at $4,230,000 after purchasing an additional 868,800 shares during the last quarter. AlphaCore Capital LLC lifted its holdings in NGL Energy Partners by 28.0% in the 2nd quarter. AlphaCore Capital LLC now owns 160,000 shares of the oil and gas company’s stock worth $683,000 after buying an additional 35,000 shares during the period. Finally, CreativeOne Wealth LLC grew its position in shares of NGL Energy Partners by 15.7% in the 2nd quarter. CreativeOne Wealth LLC now owns 17,700 shares of the oil and gas company’s stock worth $76,000 after buying an additional 2,400 shares during the last quarter. Institutional investors own 40.62% of the company’s stock.

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.