NGL Energy Partners (NYSE:NGL) Shares Down 4.5% - Here's Why

Shares of NGL Energy Partners LP (NYSE:NGL - Get Free Report) dropped 4.5% during mid-day trading on Monday . The stock traded as low as $5.07 and last traded at $5.07. Approximately 41,017 shares changed hands during trading, a decline of 91% from the average daily volume of 464,702 shares. The stock had previously closed at $5.31.

NGL Energy Partners Stock Down 5.1 %

The company has a debt-to-equity ratio of 28.52, a quick ratio of 0.98 and a current ratio of 1.21. The company has a market cap of $665.35 million, a P/E ratio of -2.17 and a beta of 1.72. The stock has a 50 day moving average price of $4.57 and a 200 day moving average price of $4.53.

NGL Energy Partners (NYSE:NGL - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.56 billion. NGL Energy Partners had a positive return on equity of 77.15% and a negative net margin of 2.87%. During the same quarter last year, the firm posted ($0.05) earnings per share. Research analysts expect that NGL Energy Partners LP will post 0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its stake 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 worth $124,000 after acquiring an additional 5,128 shares in the last quarter. Tidal Investments LLC boosted its position in shares of NGL Energy Partners by 33.3% in the 3rd quarter. Tidal Investments LLC now owns 35,527 shares of the oil and gas company's stock valued at $160,000 after purchasing an additional 8,877 shares during the period. International Assets Investment Management LLC increased its stake in NGL Energy Partners by 350.0% in 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 in the last quarter. XTX Topco Ltd acquired a new stake in NGL Energy Partners during the 3rd quarter worth about $46,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in NGL Energy Partners during the third quarter valued at about $46,000. Institutional investors and hedge funds 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.