NGL Energy Partners (NYSE:NGL) Shares Down 4.4% – Time to Sell?

NGL Energy Partners LP (NYSE:NGL) was down 4.4% during mid-day trading on Monday . The stock traded as low as $13.11 and last traded at $12.9440. Approximately 119,052 shares changed hands during trading, a decline of 66% from the average daily volume of 348,844 shares. The stock had previously closed at $13.54.

Wall Street Analyst Weigh In

Several research firms have weighed in on NGL. Weiss Ratings reiterated a “hold (c)” rating on shares of NGL Energy Partners in a report on Wednesday, January 28th. Zacks Research lowered shares of NGL Energy Partners from a “hold” rating to a “strong sell” rating in a report on Thursday, March 12th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

NGL Energy Partners Trading Down 3.8%

The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 325.61 and a beta of 0.39. The firm’s fifty day simple moving average is $12.10 and its two-hundred day simple moving average is $9.93.

NGL Energy Partners (NYSE:NGL) last posted its earnings results on Tuesday, February 3rd. The oil and gas company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.06). The firm had revenue of $909.82 million during the quarter, compared to analyst estimates of $700.76 million. NGL Energy Partners had a net margin of 5.01% and a negative return on equity of 66.52%. As a group, analysts forecast that NGL Energy Partners LP will post -0.22 EPS for the current fiscal year.

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

Hedge Funds Weigh In On NGL Energy Partners

Large investors have recently made changes to their positions in the stock. Lee Financial Co acquired a new position in shares of NGL Energy Partners in the 3rd quarter worth approximately $678,000. Angelo Gordon & CO. L.P. lifted its holdings in shares of NGL Energy Partners by 291.7% in the 3rd 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 acquiring an additional 1,865,003 shares during the last quarter. ING Groep NV lifted its holdings in shares of 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 worth $29,591,000 after acquiring an additional 3,436,000 shares during the last quarter. Carter Financial Group INC. acquired a new position in shares of NGL Energy Partners in the 2nd quarter worth approximately $277,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of 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 worth $23,829,000 after acquiring an additional 165,249 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.