NGL Energy Partners (NYSE:NGL) Trading Down 4.6% - Should You Sell?
NGL Energy Partners (NYSE:NGL) shares fell 4.6% to $9.2330, with trading volume down 65% from the average. The company has a market cap of $1.17 billion and a P/E ratio of -22.66. Analysts maintain a 'Hold' rating. Recent insider activity includes a director purchasing 100,000 shares. Institutional investors own 40.62% of the stock. NGL operates in water solutions, crude oil logistics, and liquids logistics.
NGL Energy Partners LP (NYSE:NGL - Get Free Report) shares were down 4.6% on Tuesday . The stock traded as low as $9.30 and last traded at $9.2330. Approximately 171,426 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 496,509 shares. The stock had previously closed at $9.68.
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Analysts Set New Price Targets
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Separately, Weiss Ratings reissued a "hold (c)" rating on shares of NGL Energy Partners in a report on Friday, October 31st. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold".
Check Out Our Latest Analysis on NGL
NGL Energy Partners Stock Down 3.8%
The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -22.66 and a beta of 0.25. The business has a 50-day moving average price of $7.26 and a 200-day moving average price of $5.40.
NGL Energy Partners (NYSE:NGL - Get Free Report) last announced its earnings results on Tuesday, November 4th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter. The company had revenue of $674.68 million for the quarter, compared to analyst estimates of $508.49 million. NGL Energy Partners had a negative return on equity of 43.75% and a net margin of 2.19%. On average, equities research analysts forecast that NGL Energy Partners LP will post -0.22 earnings per share for the current year.
Insider Activity
In related news, Director James M. Collingsworth acquired 100,000 shares of the company's stock in a transaction dated Friday, September 12th. The shares were purchased at an average cost of $5.80 per share, with a total value of $580,000.00. Following the completion of the acquisition, the director directly owned 729,500 shares of the company's stock, valued at $4,231,100. This represents a 15.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Institutional Trading of NGL Energy Partners
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Windsor Advisory Group LLC acquired a new position in shares of NGL Energy Partners in the first quarter valued at about $45,000. State of Wyoming purchased a new position in NGL Energy Partners during the 1st quarter worth approximately $51,000. CIBC Bancorp USA Inc. purchased a new position in NGL Energy Partners during the 3rd quarter worth approximately $70,000. CIBC Private Wealth Group LLC purchased a new stake in shares of NGL Energy Partners in the 3rd quarter valued at $70,000. Finally, CreativeOne Wealth LLC increased its stake in shares of NGL Energy Partners by 15.7% in the second quarter. CreativeOne Wealth LLC now owns 17,700 shares of the oil and gas company's stock worth $76,000 after acquiring an additional 2,400 shares during the period. Institutional investors and hedge funds own 40.62% of the company's stock.
About NGL Energy Partners
(Get Free Report)NGL Energy Partners LP engages in the transportation, storage, blending, and marketing of crude oil, natural gas liquids, refined products / renewables, and water solutions. The company operates in three segments: Water Solutions, Crude Oil Logistics, and Liquids Logistics. The Water Solutions segment transports, treats, recycles, and disposes produced and flowback water generated from oil and natural gas production; aggregates and sells recovered crude oil; disposes solids, such as tank bottoms, and drilling fluid and muds, as well as performs truck and frac tank washouts; and sells produced water for reuse and recycle, and brackish non-potable water.
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