NGL Energy Partners (NYSE:NGL) Shares Gap Down – Here’s What Happened

Shares of NGL Energy Partners LP (NYSE:NGL) gapped down before the market opened 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 trading hands.

Analysts Set New Price Targets

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

NGL Energy Partners Stock Up 1.2 %

The company has a market capitalization of $614.52 million, a PE ratio of -1.85 and a beta of 1.73. The business has a 50 day simple moving average of $5.02 and a 200 day simple moving average of $4.69.

NGL Energy Partners (NYSE:NGL) last issued its quarterly 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 return on equity of 29.77% and a negative net margin of 3.57%. Equities analysts expect that NGL Energy Partners LP will post -0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other NGL Energy Partners news, CEO H Michael Krimbill purchased 15,000 shares of the stock in a transaction on Thursday, February 13th. The stock was acquired at an average price of $4.49 per share, with a total value of $67,350.00. Following the completion of the acquisition, the chief executive officer now owns 603,000 shares in the company, valued at $2,707,470. The trade was a 2.55 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Investors Weigh In On NGL Energy Partners

Institutional investors and hedge funds have recently modified their holdings of the company. XTX Topco Ltd acquired a new stake in shares of NGL Energy Partners during the third quarter worth about $46,000. Raymond James Financial Inc. acquired a new stake in shares of NGL Energy Partners during the fourth quarter worth about $55,000. one8zero8 LLC acquired a new stake in shares of NGL Energy Partners during the fourth quarter worth about $58,000. Two Sigma Securities LLC acquired a new stake in shares of NGL Energy Partners during the fourth quarter worth about $59,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of NGL Energy Partners during the fourth quarter worth about $61,000. 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.