NGL Energy Partners (NYSE:NGL) Shares Down 3.1% - What's Next?

NGL Energy Partners LP (NYSE:NGL - Get Free Report) dropped 3.1% on Wednesday . The stock traded as low as $5.27 and last traded at $5.31. Approximately 68,575 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 358,990 shares. The stock had previously closed at $5.48.

NGL Energy Partners Price Performance

The company has a market capitalization of $708.91 million, a PE ratio of -2.31 and a beta of 1.72. The company has a debt-to-equity ratio of 28.52, a current ratio of 1.21 and a quick ratio of 0.98. The stock's 50 day simple moving average is $4.71 and its 200-day simple moving average is $4.53.

NGL Energy Partners (NYSE:NGL - Get Free Report) last announced its earnings results on Tuesday, November 12th. The oil and gas company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.20). NGL Energy Partners had a positive return on equity of 77.15% and a negative net margin of 2.87%. The business had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.56 billion. During the same period in the previous year, the company earned ($0.05) earnings per share. As a group, equities analysts forecast that NGL Energy Partners LP will post 0.11 earnings per share for the current fiscal year.

Institutional Trading of NGL Energy Partners

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its holdings in NGL Energy Partners by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,008,565 shares of the oil and gas company's stock worth $22,539,000 after purchasing an additional 154,098 shares during the period. Tidal Investments LLC grew its position in shares of NGL Energy Partners by 33.3% during the third quarter. Tidal Investments LLC now owns 35,527 shares of the oil and gas company's stock worth $160,000 after buying an additional 8,877 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of NGL Energy Partners during the third quarter worth approximately $46,000. Citigroup Inc. increased its stake in shares of 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 period. Finally, ING Groep NV raised its holdings in NGL Energy Partners by 5.5% in the third quarter. ING Groep NV now owns 1,561,803 shares of the oil and gas company's stock valued at $7,028,000 after acquiring an additional 80,803 shares in the last quarter. 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.