NGL Energy Partners (NYSE:NGL) Stock Price Down 5.6% – What’s Next?

NGL Energy Partners LP (NYSE:NGL)’s stock price traded down 5.6% during trading on Friday . The company traded as low as $15.38 and last traded at $15.2850. 91,198 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 325,308 shares. The stock had previously closed at $16.20.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of NGL Energy Partners in a report on Monday, April 27th. Zacks Research upgraded shares of NGL Energy Partners from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

NGL Energy Partners Price Performance

The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 378.69 and a beta of 0.58. The business’s fifty day simple moving average is $12.73 and its 200 day simple moving average is $10.69.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). NGL Energy Partners had a negative return on equity of 66.52% and a net margin of 5.01%.The company had revenue of $909.82 million during the quarter, compared to analyst estimates of $700.76 million. Equities research analysts expect that NGL Energy Partners LP will post 0.03 earnings per share for the current fiscal year.

NGL Energy Partners declared that its board has authorized a share repurchase plan on Thursday, April 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its stake in shares of NGL Energy Partners by 18.7% in the third quarter. Bank of America Corp DE now owns 11,728,872 shares of the oil and gas company’s stock valued at $70,373,000 after buying an additional 1,843,849 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of NGL Energy Partners by 9.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 7,522,370 shares of the oil and gas company’s stock valued at $75,224,000 after buying an additional 651,779 shares in the last quarter. ING Groep NV lifted its stake in shares of NGL Energy Partners by 4.9% in the fourth quarter. ING Groep NV now owns 5,174,803 shares of the oil and gas company’s stock valued at $51,748,000 after buying an additional 243,000 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of NGL Energy Partners by 0.9% in the fourth quarter. JPMorgan Chase & Co. now owns 3,069,571 shares of the oil and gas company’s stock valued at $30,696,000 after buying an additional 28,659 shares in the last quarter. Finally, Angelo Gordon & CO. L.P. lifted its stake in shares of NGL Energy Partners by 291.7% in the third quarter. Angelo Gordon & CO. L.P. now owns 2,504,447 shares of the oil and gas company’s stock valued at $15,027,000 after buying an additional 1,865,003 shares in the last quarter. 40.62% of the stock is owned by institutional investors.

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.