NGL Energy Partners LP (NYSE:NGL) Short Interest Update

NGL Energy Partners LP (NYSE:NGL) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 3,170,000 shares, an increase of 26.3% from the March 31st total of 2,510,000 shares. Based on an average daily trading volume, of 2,900,000 shares, the short-interest ratio is currently 1.1 days. Currently, 2.6% of the company’s shares are short sold.

Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of NGL Energy Partners from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 7th. UBS Group upgraded shares of NGL Energy Partners from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $2.00 to $3.00 in a report on Thursday, February 18th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $4.54.

A number of large investors have recently modified their holdings of NGL. Ground Swell Capital LLC acquired a new position in shares of NGL Energy Partners during the first quarter worth about $41,000. Canvas Wealth Advisors LLC acquired a new position in shares of NGL Energy Partners during the first quarter worth about $88,000. Mcdonald Partners LLC acquired a new position in shares of NGL Energy Partners during the first quarter worth about $41,000. Virtu Financial LLC acquired a new position in shares of NGL Energy Partners during the fourth quarter worth about $64,000. Finally, JPMorgan Chase & Co. grew its position in shares of NGL Energy Partners by 11.6% during the fourth quarter. JPMorgan Chase & Co. now owns 3,791,024 shares of the oil and gas company’s stock worth $9,099,000 after buying an additional 395,366 shares in the last quarter. Institutional investors own 43.62% of the company’s stock.

NYSE:NGL traded down $0.03 on Tuesday, reaching $2.12. 901,684 shares of the company’s stock were exchanged, compared to its average volume of 2,793,201. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 2.60. The firm has a market capitalization of $273.84 million, a price-to-earnings ratio of -0.85 and a beta of 2.82. The business has a fifty day moving average of $2.14 and a 200-day moving average of $2.56. NGL Energy Partners has a 52-week low of $1.87 and a 52-week high of $7.44.

NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings results on Monday, February 8th. The oil and gas company reported ($3.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($3.24). The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.42 billion. NGL Energy Partners had a negative return on equity of 3.51% and a negative net margin of 5.06%. As a group, equities analysts anticipate that NGL Energy Partners will post -0.7 earnings per share for the current year.

NGL Energy Partners Company Profile

NGL Energy Partners LP engages in the crude oil logistics, water solutions, and liquids and refined products businesses. The company's Crude Oil Logistics segment purchases crude oil from producers and marketers, and transports it to refineries for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs; and provides storage, terminaling, and pipeline transportation services.

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