NGL Energy Partners (NYSE:NGL) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

NGL Energy Partners LP (NYSE:NGL) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.60 and traded as high as $12.58. NGL Energy Partners shares last traded at $12.4230, with a volume of 264,524 shares.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Zacks Research lowered shares of NGL Energy Partners from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th. Weiss Ratings restated a “hold (c)” rating on shares of NGL Energy Partners in a report on Wednesday, January 28th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

NGL Energy Partners Stock Down 0.1%

The stock’s 50-day simple moving average is $10.98 and its 200 day simple moving average is $8.68. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 295.32 and a beta of 0.34.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $0.10 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $909.82 million during the quarter, compared to analyst estimates of $700.76 million. As a group, equities research analysts anticipate that NGL Energy Partners LP will post -0.22 earnings per share for the current year.

Hedge Funds Weigh In On NGL Energy Partners

A number of institutional investors have recently bought and sold shares of NGL. Lee Financial Co bought a new position in NGL Energy Partners in the third quarter valued at approximately $678,000. ING Groep NV lifted its position in NGL Energy Partners by 229.7% in the 3rd quarter. ING Groep NV now owns 4,931,803 shares of the oil and gas company’s stock valued at $29,591,000 after acquiring an additional 3,436,000 shares in the last quarter. AlphaCore Capital LLC grew its position 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 purchasing an additional 35,000 shares in the last quarter. Prescott Group Capital Management L.L.C. raised its holdings in shares of NGL Energy Partners by 713.1% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 990,638 shares of the oil and gas company’s stock worth $4,230,000 after purchasing an additional 868,800 shares during the period. Finally, Carter Financial Group INC. bought a new position in shares of NGL Energy Partners in the second quarter worth $277,000. Institutional investors and hedge funds 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.