NGL Energy Partners (NYSE:NGL) Reaches New 12-Month High – Should You Buy?

NGL Energy Partners LP (NYSE:NGL)’s stock price reached a new 52-week high on Monday . The stock traded as high as $10.38 and last traded at $10.47, with a volume of 65461 shares trading hands. The stock had previously closed at $10.20.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of NGL Energy Partners in a report on Friday, October 31st. Zacks Research upgraded shares of NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

NGL Energy Partners Stock Performance

The company has a fifty day moving average price of $9.78 and a two-hundred day moving average price of $7.22. The company has a market cap of $1.36 billion, a P/E ratio of -59.81 and a beta of 0.29.

NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $0.02 EPS for the quarter. The firm had revenue of $674.68 million during the quarter, compared to analysts’ expectations of $508.49 million. NGL Energy Partners had a negative return on equity of 53.56% and a net margin of 3.29%. Research analysts anticipate that NGL Energy Partners LP will post -0.22 EPS 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. Bank of America Corp DE lifted its stake in 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 acquiring an additional 1,843,849 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in NGL Energy Partners by 3.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,248,614 shares of the oil and gas company’s stock valued at $23,829,000 after purchasing an additional 165,249 shares during the last quarter. ING Groep NV lifted its stake in NGL Energy Partners by 229.7% in the 3rd quarter. ING Groep NV now owns 4,931,803 shares of the oil and gas company’s stock valued at $29,591,000 after purchasing an additional 3,436,000 shares during the last quarter. Angelo Gordon & CO. L.P. grew its holdings in NGL Energy Partners by 291.7% during the third quarter. Angelo Gordon & CO. L.P. now owns 2,504,447 shares of the oil and gas company’s stock worth $15,027,000 after purchasing an additional 1,865,003 shares during the period. Finally, Prescott Group Capital Management L.L.C. increased its position in NGL Energy Partners by 713.1% during the second quarter. Prescott Group Capital Management L.L.C. now owns 990,638 shares of the oil and gas company’s stock worth $4,230,000 after buying an additional 868,800 shares during the last quarter. 40.62% of the stock is currently owned by institutional investors and hedge funds.

NGL Energy Partners Company Profile

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.