NGL Energy Partners LP (NYSE:NGL – Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $3.82, but opened at $3.90. NGL Energy Partners shares last traded at $3.86, with a volume of 24,718 shares changing hands.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on NGL shares. StockNews.com lowered NGL Energy Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Wells Fargo & Company upgraded NGL Energy Partners from an “underweight” rating to an “equal weight” rating in a report on Monday, June 5th.
View Our Latest Research Report on NGL
NGL Energy Partners Stock Performance
NGL Energy Partners (NYSE:NGL – Get Free Report) last released its quarterly earnings results on Wednesday, August 9th. The oil and gas company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.21). NGL Energy Partners had a net margin of 0.18% and a return on equity of 23.27%. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $2.11 billion. On average, equities analysts expect that NGL Energy Partners LP will post -0.55 EPS for the current year.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of NGL Energy Partners by 14.6% during the second quarter. JPMorgan Chase & Co. now owns 6,593,374 shares of the oil and gas company’s stock valued at $25,648,000 after purchasing an additional 840,125 shares in the last quarter. Morgan Stanley lifted its position in shares of NGL Energy Partners by 55.3% during the fourth quarter. Morgan Stanley now owns 3,731,403 shares of the oil and gas company’s stock valued at $4,515,000 after purchasing an additional 1,329,041 shares in the last quarter. Natixis lifted its position in shares of NGL Energy Partners by 476.8% during the second quarter. Natixis now owns 1,384,400 shares of the oil and gas company’s stock valued at $5,385,000 after purchasing an additional 1,144,400 shares in the last quarter. UBS Group AG lifted its position in shares of NGL Energy Partners by 131.6% during the first quarter. UBS Group AG now owns 677,164 shares of the oil and gas company’s stock valued at $1,503,000 after purchasing an additional 384,780 shares in the last quarter. Finally, First Citizens Bank & Trust Co. bought a new position in shares of NGL Energy Partners during the second quarter valued at about $2,303,000. 29.39% of the stock is owned by institutional investors.
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.
Read More
- Five stocks we like better than NGL Energy Partners
- How to Invest in Blockchain Stocks Step by Step
- 2 Stocks to Get You Ready for the Holiday Season
- What is the Nikkei 225 index?
- Profit Potential: 5 Undervalued Stocks With High Dividend Yields
- How to Effectively Use the MarketBeat Ratings Screener
- MarketBeat Week in Review – 8/21 – 8/25
Receive News & Ratings for NGL Energy Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NGL Energy Partners and related companies with MarketBeat.com's FREE daily email newsletter.
