NGL Energy Partners (NYSE:NGL) Sets New 52-Week Low – Here’s What Happened

NGL Energy Partners LP (NYSE:NGL) reached a new 52-week low during trading on Wednesday . The stock traded as low as $3.84 and last traded at $4.24, with a volume of 83309 shares. The stock had previously closed at $4.13.

NGL Energy Partners Stock Up 0.5 %

The company has a current ratio of 1.15, a quick ratio of 0.96 and a debt-to-equity ratio of 28.52. The firm’s fifty day simple moving average is $4.36 and its 200 day simple moving average is $4.78.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NGL. Citigroup Inc. lifted its position in NGL Energy Partners by 15.9% during the 3rd quarter. Citigroup Inc. now owns 2,427,108 shares of the oil and gas company’s stock worth $10,922,000 after acquiring an additional 333,531 shares during the period. ING Groep NV lifted its holdings in shares of NGL Energy Partners by 5.5% in the 3rd quarter. ING Groep NV now owns 1,561,803 shares of the oil and gas company’s stock valued at $7,028,000 after buying an additional 80,803 shares during the period. NBW Capital LLC lifted its holdings in shares of NGL Energy Partners by 3.0% in the 2nd quarter. NBW Capital LLC now owns 451,947 shares of the oil and gas company’s stock valued at $2,287,000 after buying an additional 12,985 shares during the period. Cetera Investment Advisers lifted its holdings in shares of NGL Energy Partners by 13.2% in the 2nd quarter. Cetera Investment Advisers now owns 281,019 shares of the oil and gas company’s stock valued at $1,422,000 after buying an additional 32,800 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in shares of NGL Energy Partners in the 3rd quarter valued at approximately $900,000. 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.