Short Interest in NGL Energy Partners LP (NYSE:NGL) Declines By 22.5%

NGL Energy Partners LP (NYSE:NGL) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 2,620,000 shares, a decline of 22.5% from the August 15th total of 3,380,000 shares. Approximately 2.3% of the company’s stock are sold short. Based on an average trading volume of 428,000 shares, the short-interest ratio is currently 6.1 days.

Institutional Investors Weigh In On NGL Energy Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new stake in shares of NGL Energy Partners during the second quarter worth about $721,000. Cetera Investment Advisers raised its stake in shares of NGL Energy Partners by 13.2% during the second quarter. Cetera Investment Advisers now owns 281,019 shares of the oil and gas company’s stock worth $1,422,000 after purchasing an additional 32,800 shares during the last quarter. NBW Capital LLC lifted its holdings in shares of NGL Energy Partners by 3.0% during the second quarter. NBW Capital LLC now owns 451,947 shares of the oil and gas company’s stock worth $2,287,000 after purchasing an additional 12,985 shares during the period. ELCO Management Co. LLC grew its position in NGL Energy Partners by 100.1% in the 2nd quarter. ELCO Management Co. LLC now owns 108,670 shares of the oil and gas company’s stock valued at $550,000 after buying an additional 54,375 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. increased its stake in NGL Energy Partners by 11.1% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 68,234 shares of the oil and gas company’s stock valued at $345,000 after buying an additional 6,834 shares during the period. Hedge funds and other institutional investors own 40.62% of the company’s stock.

NGL Energy Partners Stock Up 4.5 %

NYSE NGL traded up $0.20 during trading on Tuesday, reaching $4.67. 264,185 shares of the company’s stock were exchanged, compared to its average volume of 394,270. The company has a 50 day moving average price of $4.40 and a two-hundred day moving average price of $5.21. The stock has a market cap of $618.84 million, a P/E ratio of -2.20 and a beta of 1.67. NGL Energy Partners has a 1 year low of $3.68 and a 1 year high of $6.20. The company has a debt-to-equity ratio of 28.52, a quick ratio of 0.96 and a current ratio of 1.15.

NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings data on Thursday, August 8th. The oil and gas company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.27). NGL Energy Partners had a positive return on equity of 36.54% and a negative net margin of 2.28%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the prior year, the firm posted ($0.11) EPS. On average, equities research analysts anticipate that NGL Energy Partners will post 0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of NGL Energy Partners from a “buy” rating to a “hold” rating in a report on Monday, June 10th.

About NGL Energy Partners

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.