NGL Energy Partners (NYSE:NGL) Sees Strong Trading Volume - Time to Buy?

NGL Energy Partners LP (NYSE:NGL - Get Free Report) shares saw strong trading volume on Thursday . 516,380 shares changed hands during mid-day trading, an increase of 56% from the previous session's volume of 330,618 shares.The stock last traded at $5.45 and had previously closed at $5.38.

NGL Energy Partners Stock Down 1.6 %

The business has a 50-day simple moving average of $5.01 and a 200-day simple moving average of $4.59. The stock has a market cap of $712.19 million, a P/E ratio of -2.33 and a beta of 1.71.

NGL Energy Partners (NYSE:NGL - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.20). The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.56 billion. NGL Energy Partners had a negative net margin of 2.87% and a positive return on equity of 77.15%. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. On average, analysts predict that NGL Energy Partners LP will post 0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in NGL Energy Partners by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 5,008,565 shares of the oil and gas company's stock valued at $22,539,000 after purchasing an additional 154,098 shares in the last quarter. Citigroup Inc. increased its holdings in NGL Energy Partners by 15.9% during the third quarter. Citigroup Inc. now owns 2,427,108 shares of the oil and gas company's stock worth $10,922,000 after buying an additional 333,531 shares during the last quarter. ING Groep NV raised its position in NGL Energy Partners by 5.5% during the third quarter. ING Groep NV now owns 1,561,803 shares of the oil and gas company's stock worth $7,028,000 after acquiring an additional 80,803 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of NGL Energy Partners by 13.2% in the 2nd quarter. Cetera Investment Advisers now owns 281,019 shares of the oil and gas company's stock valued at $1,422,000 after purchasing an additional 32,800 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in NGL Energy Partners in the 3rd quarter valued at about $900,000. Institutional investors own 40.62% of the company's stock.

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.