NGL Energy Partners (NYSE:NGL) Sees Large Volume Increase – Time to Buy?

NGL Energy Partners LP (NYSE:NGL) saw unusually-high trading volume on Friday . Approximately 775,629 shares were traded during trading, an increase of 61% from the previous session’s volume of 480,973 shares.The stock last traded at $4.81 and had previously closed at $4.51.

NGL Energy Partners Price Performance

The firm has a fifty day moving average of $5.07 and a two-hundred day moving average of $4.61. The stock has a market capitalization of $648.83 million, a P/E ratio of -2.12 and a beta of 1.71.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings results on Monday, February 10th. The oil and gas company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.25). NGL Energy Partners had a negative net margin of 2.87% and a positive return on equity of 77.15%. As a group, sell-side analysts forecast that NGL Energy Partners LP will post 0.11 EPS for the current fiscal year.

Institutional Trading of NGL Energy Partners

Several hedge funds and other institutional investors have recently bought and sold shares of NGL. XTX Topco Ltd bought a new stake in NGL Energy Partners during the third quarter valued at about $46,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of NGL Energy Partners in the 3rd quarter valued at about $46,000. Raymond James Financial Inc. purchased a new position in shares of NGL Energy Partners in the 4th quarter worth approximately $55,000. International Assets Investment Management LLC lifted its position in NGL Energy Partners by 350.0% during the third quarter. International Assets Investment Management LLC now owns 12,600 shares of the oil and gas company’s stock valued at $57,000 after acquiring an additional 9,800 shares during the last quarter. Finally, one8zero8 LLC acquired a new stake in NGL Energy Partners in the fourth quarter valued at approximately $58,000. Institutional investors own 40.62% of the company’s stock.

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.