NGL Energy Partners (NYSE:NGL) Stock Price Up 6.4% – What’s Next?

NGL Energy Partners LP (NYSE:NGL)’s share price traded up 6.4% on Monday . The company traded as high as $15.45 and last traded at $15.4750. Approximately 43,799 shares changed hands during trading, a decline of 86% from the average daily volume of 315,871 shares. The stock had previously closed at $14.55.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Weiss Ratings lowered NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Zacks Research upgraded 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.com, the stock currently has an average rating of “Hold”.

NGL Energy Partners Price Performance

The business’s 50 day moving average is $16.28 and its 200 day moving average is $13.43. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -4.71 and a beta of 0.60.

NGL Energy Partners (NYSE:NGL) last posted its earnings results on Thursday, May 28th. The oil and gas company reported ($0.71) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.89). The business had revenue of $949.51 million during the quarter, compared to analysts’ expectations of $941.52 million. NGL Energy Partners had a negative net margin of 4.51% and a negative return on equity of 47.64%. As a group, analysts forecast that NGL Energy Partners LP will post 0.82 earnings per share for the current year.

NGL Energy Partners announced that its board has authorized a stock repurchase program on Thursday, April 9th that allows the company to buyback $100.00 million in 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 leadership believes its shares are undervalued.

Institutional Trading of NGL Energy Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NGL. Bank of America Corp DE boosted its holdings in shares of NGL Energy Partners by 18.7% in the 3rd quarter. Bank of America Corp DE now owns 11,728,872 shares of the oil and gas company’s stock valued at $70,373,000 after buying an additional 1,843,849 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in NGL Energy Partners by 9.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,522,370 shares of the oil and gas company’s stock worth $75,224,000 after acquiring an additional 651,779 shares in the last quarter. ING Groep NV lifted its position in NGL Energy Partners by 4.9% in the fourth quarter. ING Groep NV now owns 5,174,803 shares of the oil and gas company’s stock valued at $51,748,000 after acquiring an additional 243,000 shares during the last quarter. JPMorgan Chase & Co. lifted its position in NGL Energy Partners by 0.9% in the fourth quarter. JPMorgan Chase & Co. now owns 3,069,571 shares of the oil and gas company’s stock valued at $30,696,000 after acquiring an additional 28,659 shares during the last quarter. Finally, Angelo Gordon & CO. L.P. acquired a new position in NGL Energy Partners in the second quarter valued at $2,730,000. 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.