NGL Energy Partners (NYSE:NGL) Hits New 52-Week High – Here’s Why

NGL Energy Partners LP (NYSE:NGL) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $13.00 and last traded at $11.72, with a volume of 34946 shares. The stock had previously closed at $11.84.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NGL shares. Zacks Research lowered shares of NGL Energy Partners from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of NGL Energy Partners in a research note on Wednesday, January 28th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, NGL Energy Partners presently has a consensus rating of “Hold”.

NGL Energy Partners Price Performance

The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 289.57 and a beta of 0.34. The firm has a fifty day simple moving average of $10.98 and a 200 day simple moving average of $8.68.

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 (EPS) 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 company had revenue of $909.82 million during the quarter, compared to analyst estimates of $700.76 million. Research analysts predict that NGL Energy Partners LP will post -0.22 EPS for the current year.

Institutional Investors Weigh In On NGL Energy Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in NGL. CIBC Bancorp USA Inc. purchased a new position in shares of NGL Energy Partners in the third quarter worth about $70,000. CIBC Private Wealth Group LLC acquired a new position in shares of NGL Energy Partners during the 3rd quarter worth approximately $70,000. LPL Financial LLC acquired a new stake in shares of NGL Energy Partners in the fourth quarter valued at approximately $120,000. Royal Bank of Canada boosted its stake in NGL Energy Partners by 71.2% during the fourth quarter. Royal Bank of Canada now owns 14,454 shares of the oil and gas company’s stock worth $145,000 after buying an additional 6,009 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of NGL Energy Partners in the 4th quarter worth $172,000. Institutional investors and hedge funds own 40.62% of the company’s stock.

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.