NGL Energy Partners (NYSE:NGL) Shares Gap Down - What's Next?

NGL Energy Partners LP (NYSE:NGL - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $4.81, but opened at $4.70. NGL Energy Partners shares last traded at $4.78, with a volume of 7,243 shares.

NGL Energy Partners Trading Down 1.2 %

The stock has a 50-day moving average of $4.42 and a 200 day moving average of $4.59. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 28.52. The stock has a market cap of $627.05 million, a PE ratio of -2.05 and a beta of 1.75.

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) EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.56 billion. During the same period last year, the company earned ($0.05) earnings per share. As a group, sell-side analysts anticipate that NGL Energy Partners LP will post 0.11 earnings per share for the current year.

Hedge Funds Weigh In On NGL Energy Partners

A number of institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new stake in shares of NGL Energy Partners in the second quarter worth about $721,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in NGL Energy Partners in the third quarter valued at approximately $900,000. Citigroup Inc. boosted its position in 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 purchasing an additional 333,531 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of NGL Energy Partners by 350.0% during the 3rd quarter. International Assets Investment Management LLC now owns 12,600 shares of the oil and gas company's stock worth $57,000 after purchasing an additional 9,800 shares during the period. Finally, Van ECK Associates Corp increased its holdings in shares of NGL Energy Partners by 26.4% during the 2nd quarter. Van ECK Associates Corp now owns 24,565 shares of the oil and gas company's stock valued at $124,000 after purchasing an additional 5,128 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 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.