NGL Energy Partners (NYSE:NGL) Stock Price Down 2%

Shares of NGL Energy Partners LP (NYSE:NGL) dropped 2% during trading on Wednesday . The stock traded as low as $4.96 and last traded at $4.96. Approximately 8,989 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 426,713 shares. The stock had previously closed at $5.06.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of NGL Energy Partners from a “buy” rating to a “hold” rating in a research note on Monday, June 10th.

NGL Energy Partners Stock Performance

The stock has a market capitalization of $651.95 million, a price-to-earnings ratio of -2.33 and a beta of 1.69. The stock’s 50 day moving average is $5.56 and its 200 day moving average is $5.65. The company has a current ratio of 1.21, a quick ratio of 1.07 and a debt-to-equity ratio of 28.52.

NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings data on Thursday, June 6th. The oil and gas company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.57). The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.97 billion. NGL Energy Partners had a negative net margin of 2.07% and a positive return on equity of 20.54%. On average, analysts predict that NGL Energy Partners LP will post 1.47 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Canvas Wealth Advisors LLC lifted its holdings in NGL Energy Partners by 8.7% in the 1st quarter. Canvas Wealth Advisors LLC now owns 21,748 shares of the oil and gas company’s stock valued at $124,000 after purchasing an additional 1,748 shares in the last quarter. CWM LLC lifted its holdings in NGL Energy Partners by 6.6% in the 4th quarter. CWM LLC now owns 40,204 shares of the oil and gas company’s stock valued at $224,000 after purchasing an additional 2,500 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in NGL Energy Partners by 9.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 32,210 shares of the oil and gas company’s stock valued at $186,000 after purchasing an additional 2,845 shares in the last quarter. Frazier Financial Advisors LLC purchased a new position in shares of NGL Energy Partners during the 4th quarter worth about $28,000. Finally, Visionary Horizons LLC purchased a new position in shares of NGL Energy Partners during the 4th quarter worth about $56,000. 40.62% of the stock is currently owned by hedge funds and other institutional investors.

NGL Energy Partners Company Profile

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.