NGL Energy Partners (NYSE:NGL) Trading Down 3.1% – Should You Sell?

NGL Energy Partners LP (NYSE:NGL)’s stock price dropped 3.1% during trading on Wednesday . The company traded as low as $5.27 and last traded at $5.31. Approximately 68,575 shares traded 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 Stock Down 1.5 %

The firm’s 50 day simple moving average is $4.76 and its two-hundred day simple moving average is $4.54. The stock has a market capitalization of $695.69 million, a P/E ratio of -2.27 and a beta of 1.72.

NGL Energy Partners (NYSE:NGL) last announced its quarterly earnings results on Tuesday, November 12th. The oil and gas company reported ($0.21) earnings per share (EPS) 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 firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the company posted ($0.05) EPS. As a group, equities research analysts expect that NGL Energy Partners LP will post 0.11 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in NGL Energy Partners by 3.2% in the third 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 last quarter. Sanctuary Advisors LLC bought a new position in shares of NGL Energy Partners during the 2nd quarter worth $721,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in NGL Energy Partners in the 3rd quarter worth about $900,000. Citigroup Inc. raised its position in shares of NGL Energy Partners by 15.9% in the third quarter. Citigroup Inc. now owns 2,427,108 shares of the oil and gas company’s stock valued at $10,922,000 after purchasing an additional 333,531 shares during the period. Finally, International Assets Investment Management LLC lifted its position in shares of NGL Energy Partners by 350.0% during the third quarter. International Assets Investment Management LLC now owns 12,600 shares of the oil and gas company’s stock worth $57,000 after acquiring an additional 9,800 shares in the last quarter. 40.62% of the stock is owned by institutional investors.

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.