NGL Energy Partners (NYSE:NGL) Sets New 1-Year High – What’s Next?

NGL Energy Partners LP (NYSE:NGL)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $18.24 and last traded at $18.4950, with a volume of 17043 shares traded. The stock had previously closed at $17.84.

Analyst Ratings Changes

Several research analysts recently weighed in on NGL shares. Weiss Ratings reissued a “hold (c)” rating on shares of NGL Energy Partners in a research note on Monday, April 27th. Zacks Research raised NGL Energy Partners from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

NGL Energy Partners Trading Up 4.2%

The firm has a market capitalization of $2.30 billion, a P/E ratio of 462.87 and a beta of 0.58. The company has a 50-day moving average of $13.56 and a 200-day moving average of $11.38.

NGL Energy Partners announced that its board has authorized a stock buyback plan on Thursday, April 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the oil and gas company to buy up to 6.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Institutional Trading of NGL Energy Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quartz Partners LLC boosted its position in shares of NGL Energy Partners by 6.8% during the 1st quarter. Quartz Partners LLC now owns 16,504 shares of the oil and gas company’s stock valued at $203,000 after acquiring an additional 1,052 shares during the last quarter. Everpar Advisors LLC lifted its position in NGL Energy Partners by 6.5% in the fourth quarter. Everpar Advisors LLC now owns 24,500 shares of the oil and gas company’s stock valued at $245,000 after acquiring an additional 1,500 shares during the last quarter. Wells Fargo & Company MN lifted its position in NGL Energy Partners by 9.4% in the fourth quarter. Wells Fargo & Company MN now owns 34,800 shares of the oil and gas company’s stock valued at $348,000 after acquiring an additional 3,000 shares during the last quarter. XTX Topco Ltd lifted its position in NGL Energy Partners by 9.0% in the fourth quarter. XTX Topco Ltd now owns 37,579 shares of the oil and gas company’s stock valued at $376,000 after acquiring an additional 3,103 shares during the last quarter. Finally, Massar Capital Management LP lifted its position in NGL Energy Partners by 23.2% in the second quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company’s stock valued at $120,000 after acquiring an additional 5,295 shares during the last quarter. Hedge funds and other institutional investors own 40.62% of the company’s stock.

About NGL Energy Partners

NGL Energy Partners LP is a publicly traded master limited partnership that provides midstream infrastructure and marketing services for the energy industry. The company focuses on the transportation, storage, fractionation and marketing of natural gas liquids (NGLs) and refined petroleum products. Through its integrated operations, NGL Energy Partners serves producers, processors, refiners and industrial customers across key U.S. energy-producing regions.

The partnership’s asset base includes pipelines, storage terminals, fractionation plants, and distribution facilities.