NGL Energy Partners (NYSE:NGL) Sets New 1-Year High – Time to Buy?

NGL Energy Partners LP (NYSE:NGL) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $14.12 and last traded at $14.0310, with a volume of 58169 shares changing hands. The stock had previously closed at $13.79.

Analysts Set New Price Targets

NGL has been the subject of a number of analyst reports. Zacks Research raised NGL Energy Partners from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. Weiss Ratings reissued a “hold (c)” rating on shares of NGL Energy Partners in a report on Wednesday, January 28th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold”.

NGL Energy Partners Trading Up 4.1%

The stock has a fifty day moving average of $12.35 and a two-hundred day moving average of $10.31. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 363.59 and a beta of 0.39.

NGL Energy Partners (NYSE:NGL) last released its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). NGL Energy Partners had a net margin of 5.01% and a negative return on equity of 66.52%. The business had revenue of $909.82 million for the quarter, compared to analyst estimates of $700.76 million. Equities analysts expect that NGL Energy Partners LP will post 0.03 earnings per share for the current year.

NGL Energy Partners declared that its board has initiated a share buyback plan on Thursday, April 9th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the oil and gas company to purchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NGL. CIBC Bancorp USA Inc. bought a new position in shares of NGL Energy Partners in the third quarter valued at about $70,000. CIBC Private Wealth Group LLC bought a new position in shares of NGL Energy Partners in the third quarter valued at about $70,000. Massar Capital Management LP raised its holdings in shares of NGL Energy Partners by 23.2% in the second quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company’s stock valued at $120,000 after buying an additional 5,295 shares during the last quarter. LPL Financial LLC bought a new position in shares of NGL Energy Partners in the fourth quarter valued at about $120,000. Finally, Simon Quick Advisors LLC bought a new position in shares of NGL Energy Partners in the third quarter valued at about $129,000. 40.62% of the stock is owned by institutional investors.

NGL Energy Partners Company Profile

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.