NGL Energy Partners (NYSE:NGL) Hits New 52-Week High – Should You Buy?

NGL Energy Partners LP (NYSE:NGL) shares reached a new 52-week high on Tuesday . The company traded as high as $16.44 and last traded at $16.3370, with a volume of 111151 shares traded. The stock had previously closed at $15.85.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NGL. Weiss Ratings reissued a “hold (c)” rating on shares of NGL Energy Partners in a report on Monday, April 27th. Zacks Research raised shares of NGL Energy Partners from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

NGL Energy Partners Trading Up 3.7%

The stock’s 50-day moving average is $12.73 and its 200-day moving average is $10.73. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 410.98 and a beta of 0.58.

NGL Energy Partners (NYSE:NGL) last released 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 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 analyst estimates of $700.76 million. As a group, analysts predict that NGL Energy Partners LP will post 0.03 EPS for the current year.

NGL Energy Partners declared that its board has authorized a stock buyback program on Thursday, April 9th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NGL. ING Groep NV raised its holdings in NGL Energy Partners by 229.7% during the third quarter. ING Groep NV now owns 4,931,803 shares of the oil and gas company’s stock worth $29,591,000 after buying an additional 3,436,000 shares during the last quarter. Angelo Gordon & CO. L.P. raised its holdings in NGL Energy Partners by 291.7% during the third quarter. Angelo Gordon & CO. L.P. now owns 2,504,447 shares of the oil and gas company’s stock worth $15,027,000 after buying an additional 1,865,003 shares during the last quarter. Bank of America Corp DE raised its holdings in NGL Energy Partners by 18.7% during the third quarter. Bank of America Corp DE now owns 11,728,872 shares of the oil and gas company’s stock worth $70,373,000 after buying an additional 1,843,849 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in NGL Energy Partners by 9.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 7,522,370 shares of the oil and gas company’s stock worth $75,224,000 after buying an additional 651,779 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in NGL Energy Partners by 2,963.5% during the third quarter. BNP Paribas Financial Markets now owns 292,261 shares of the oil and gas company’s stock worth $1,754,000 after buying an additional 282,721 shares during the last quarter. 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.