NGL Energy Partners (NYSE:NGL) Sees Strong Trading Volume – Should You Buy?

NGL Energy Partners LP (NYSE:NGL) shares saw an uptick in trading volume on Thursday . 516,380 shares changed hands during mid-day trading, an increase of 56% from the previous session’s volume of 330,618 shares.The stock last traded at $5.45 and had previously closed at $5.38.

NGL Energy Partners Stock Performance

The firm’s fifty day moving average is $4.99 and its 200-day moving average is $4.59. The company has a market capitalization of $722.11 million, a P/E ratio of -2.36 and a beta of 1.72.

NGL Energy Partners (NYSE:NGL) last posted its earnings results on Tuesday, November 12th. The oil and gas company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.20). NGL Energy Partners had a positive return on equity of 77.15% and a negative net margin of 2.87%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the firm posted ($0.05) EPS. As a group, analysts expect that NGL Energy Partners LP will post 0.11 EPS for the current fiscal year.

Hedge Funds Weigh In On NGL Energy Partners

Large investors have recently bought and sold shares of the company. 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 valued at $1,422,000 after acquiring an additional 32,800 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in NGL Energy Partners in the second quarter valued at $721,000. FLC Capital Advisors bought a new position in NGL Energy Partners during the 3rd quarter worth $103,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in NGL Energy Partners during the 3rd quarter worth about $900,000. Finally, International Assets Investment Management LLC grew its position in shares of NGL Energy Partners by 350.0% in the 3rd quarter. International Assets Investment Management LLC now owns 12,600 shares of the oil and gas company’s stock valued at $57,000 after buying an additional 9,800 shares during the last quarter. 40.62% of the stock is currently owned by institutional investors.

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.