NGL Energy Partners (NYSE:NGL) Trading Down 4% – Time to Sell?

NGL Energy Partners LP (NYSE:NGL) shares fell 4% during mid-day trading on Wednesday . The company traded as low as $13.00 and last traded at $13.05. 235,691 shares traded hands during trading, a decline of 37% from the average session volume of 372,987 shares. The stock had previously closed at $13.59.

Analyst Ratings Changes

Several brokerages have recently weighed in on NGL. Weiss Ratings restated a “hold (c)” rating on shares of NGL Energy Partners in a research note on Wednesday, January 28th. Zacks Research downgraded shares of NGL Energy Partners from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce”.

NGL Energy Partners Price Performance

The business has a fifty day moving average of $11.65 and a 200 day moving average of $9.38. The stock has a market cap of $1.49 billion, a PE ratio of 301.35 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 (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.06). NGL Energy Partners had a negative return on equity of 66.52% and a net margin of 5.01%.The business had revenue of $909.82 million for the quarter, compared to analysts’ expectations of $700.76 million. On average, equities research analysts expect that NGL Energy Partners LP will post -0.22 EPS for the current year.

Institutional Trading of NGL Energy Partners

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CIBC Bancorp USA Inc. bought a new position in NGL Energy Partners during the 3rd quarter valued at $70,000. CIBC Private Wealth Group LLC bought a new stake in shares of NGL Energy Partners in the 3rd quarter worth about $70,000. CreativeOne Wealth LLC increased 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 purchasing an additional 2,400 shares during the last quarter. Massar Capital Management LP raised its stake in shares of NGL Energy Partners by 23.2% in the 2nd quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company’s stock valued at $120,000 after purchasing an additional 5,295 shares in the last quarter. Finally, LPL Financial LLC bought a new position in shares of NGL Energy Partners during the fourth quarter worth about $120,000. Institutional investors 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.