NGL Energy Partners (NYSE:NGL) Trading 2.7% Higher - Time to Buy?

Shares of NGL Energy Partners LP (NYSE:NGL - Get Free Report) traded up 2.7% during trading on Tuesday . The company traded as high as $4.74 and last traded at $4.66. 23,919 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 353,835 shares. The stock had previously closed at $4.54.

Wall Street Analyst Weigh In

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

NGL Energy Partners Price Performance

The company has a 50 day simple moving average of $4.83 and a 200-day simple moving average of $4.71. The stock has a market cap of $498.22 million, a P/E ratio of -1.50 and a beta of 1.24.

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

Insider Activity

In other news, CEO H Michael Krimbill bought 15,000 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average cost of $4.49 per share, with a total value of $67,350.00. Following the completion of the purchase, the chief executive officer now directly owns 603,000 shares in the company, valued at $2,707,470. This represents a 2.55 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link.

Hedge Funds Weigh In On NGL Energy Partners

A number of hedge funds have recently modified their holdings of NGL. Bank of America Corp DE grew its position in shares of NGL Energy Partners by 27.3% in the 4th quarter. Bank of America Corp DE now owns 6,812,752 shares of the oil and gas company's stock worth $33,996,000 after buying an additional 1,461,754 shares during the last quarter. JPMorgan Chase & Co. increased 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 valued at $22,539,000 after buying an additional 154,098 shares during the period. Prescott Group Capital Management L.L.C. increased its position in shares of NGL Energy Partners by 282.7% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 121,838 shares of the oil and gas company's stock valued at $608,000 after buying an additional 90,000 shares during the period. Invesco Ltd. boosted its position in NGL Energy Partners by 0.4% during the 4th quarter. Invesco Ltd. now owns 19,647,133 shares of the oil and gas company's stock valued at $98,039,000 after acquiring an additional 85,000 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of NGL Energy Partners during the 4th quarter worth approximately $182,000. Hedge funds and other institutional investors 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.