NGL Energy Partners (NYSE:NGL) Stock Passes Above 200-Day Moving Average - Here's Why

NGL Energy Partners LP (NYSE:NGL - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.55 and traded as high as $5.42. NGL Energy Partners shares last traded at $5.36, with a volume of 250,684 shares traded.

NGL Energy Partners Trading Up 2.6 %

The company has a market capitalization of $727.38 million, a PE ratio of -2.38 and a beta of 1.72. The company has a fifty day simple moving average of $4.87 and a 200-day simple moving average of $4.56.

NGL Energy Partners (NYSE:NGL - Get Free Report) last announced 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). NGL Energy Partners had a negative net margin of 2.87% and a positive return on equity of 77.15%. The firm had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.56 billion. During the same period in the prior year, the company posted ($0.05) EPS. On average, equities analysts predict that NGL Energy Partners LP will post 0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On NGL Energy Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NGL. Citigroup Inc. lifted its holdings in shares of NGL Energy Partners by 15.9% in the 3rd quarter. Citigroup Inc. now owns 2,427,108 shares of the oil and gas company's stock worth $10,922,000 after acquiring an additional 333,531 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in NGL Energy Partners during the third quarter worth $900,000. JPMorgan Chase & Co. boosted its position in shares of NGL Energy Partners by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 5,008,565 shares of the oil and gas company's stock worth $22,539,000 after buying an additional 154,098 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of NGL Energy Partners in the second quarter valued at $721,000. Finally, ING Groep NV lifted its stake in NGL Energy Partners by 5.5% during the 3rd 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. Institutional investors and hedge funds own 40.62% of the company's stock.

About NGL Energy Partners

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.