NGL Energy Partners (NYSE:NGL) Shares Down 3.1% – Here’s What Happened

Shares of NGL Energy Partners LP (NYSE:NGL) traded down 3.1% on Wednesday . The company traded as low as $5.27 and last traded at $5.31. 68,575 shares traded hands during trading, a decline of 81% from the average session volume of 358,990 shares. The stock had previously closed at $5.48.

NGL Energy Partners Stock Down 1.5 %

The stock has a market capitalization of $695.69 million, a P/E ratio of -2.27 and a beta of 1.72. The company has a 50-day moving average price of $4.76 and a two-hundred day moving average price of $4.54.

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

Hedge Funds Weigh In On NGL Energy Partners

A number of institutional investors have recently added to or reduced their stakes in NGL. XTX Topco Ltd purchased a new position in shares of NGL Energy Partners during the third quarter worth about $46,000. Wealth Enhancement Advisory Services LLC purchased a new position in NGL Energy Partners in the 3rd quarter worth approximately $46,000. International Assets Investment Management LLC increased its holdings 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 worth $57,000 after buying an additional 9,800 shares during the last quarter. FLC Capital Advisors purchased a new stake in shares of NGL Energy Partners during the 3rd quarter valued at $103,000. Finally, Tidal Investments LLC lifted its holdings in shares of NGL Energy Partners by 33.3% during the 3rd quarter. Tidal Investments LLC now owns 35,527 shares of the oil and gas company’s stock worth $160,000 after acquiring an additional 8,877 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.