NGL Energy Partners (NYSE:NGL) Shares Gap Down - Should You Sell?

NGL Energy Partners LP (NYSE:NGL - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $4.66, but opened at $4.55. NGL Energy Partners shares last traded at $4.65, with a volume of 19,259 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded NGL Energy Partners from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th.

NGL Energy Partners Stock Down 0.1 %

The business has a 50-day simple moving average of $5.01 and a two-hundred day simple moving average of $4.69. The stock has a market capitalization of $614.52 million, a price-to-earnings ratio of -1.85 and a beta of 1.73.

NGL Energy Partners (NYSE:NGL - Get Free Report) last announced its earnings results on Monday, February 10th. The oil and gas company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.25). NGL Energy Partners had a negative net margin of 3.57% and a negative return on equity of 29.77%. On average, analysts forecast that NGL Energy Partners LP will post -0.22 EPS for the current year.

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Insider Buying and Selling at NGL Energy Partners

In related news, CEO H Michael Krimbill acquired 15,000 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was bought at an average price of $4.49 per share, for a total transaction of $67,350.00. Following the transaction, the chief executive officer now owns 603,000 shares of the company's stock, valued at approximately $2,707,470. The trade was a 2.55 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge Funds Weigh In On NGL Energy Partners

A number of hedge funds have recently modified their holdings of the stock. XTX Topco Ltd acquired a new position in shares of NGL Energy Partners in the 3rd quarter valued at $46,000. Raymond James Financial Inc. purchased a new stake in NGL Energy Partners during the fourth quarter valued at about $55,000. one8zero8 LLC acquired a new position in shares of NGL Energy Partners in the fourth quarter worth about $58,000. Two Sigma Securities LLC purchased a new position in shares of NGL Energy Partners in the fourth quarter worth approximately $59,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of NGL Energy Partners in the fourth quarter worth approximately $61,000. 40.62% of the stock is currently owned by institutional investors and hedge funds.

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.