NGL Energy Partners (NYSE:NGL) Sees Unusually-High Trading Volume – Should You Buy?

Shares of NGL Energy Partners LP (NYSE:NGL) saw strong trading volume on Tuesday . 356,869 shares traded hands during trading, an increase of 20% from the previous session’s volume of 296,407 shares.The stock last traded at $17.0130 and had previously closed at $16.33.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wall Street Zen raised NGL Energy Partners from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings cut NGL Energy Partners from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Finally, Zacks Research raised NGL Energy Partners from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

NGL Energy Partners Stock Up 5.8%

The firm’s 50-day moving average price is $16.08 and its two-hundred day moving average price is $14.69. The firm has a market capitalization of $2.16 billion, a PE ratio of -6.08 and a beta of 0.63.

NGL Energy Partners (NYSE:NGL) last issued its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.11 by $0.37. NGL Energy Partners had a negative net margin of 3.76% and a negative return on equity of 39.51%. The business had revenue of $989.99 million during the quarter, compared to the consensus estimate of $346.13 million. Equities research analysts forecast that NGL Energy Partners LP will post 1.38 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. CIBC Private Wealth Group LLC purchased a new stake in NGL Energy Partners in the 3rd quarter worth about $70,000. CIBC Bancorp USA Inc. purchased a new position in NGL Energy Partners during the 3rd quarter valued at about $70,000. LPL Financial LLC purchased a new position in NGL Energy Partners during the 4th quarter valued at about $120,000. Royal Bank of Canada increased its holdings in shares of NGL Energy Partners by 71.2% in the 4th quarter. Royal Bank of Canada now owns 14,454 shares of the oil and gas company’s stock valued at $145,000 after purchasing an additional 6,009 shares during the period. Finally, Quartz Partners LLC lifted its position in shares of NGL Energy Partners by 6.8% in the first quarter. Quartz Partners LLC now owns 16,504 shares of the oil and gas company’s stock worth $203,000 after purchasing an additional 1,052 shares in the last quarter. Hedge funds and other institutional investors own 40.62% of the company’s stock.

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.