NGL Energy Partners (NYSE:NGL) Shares Gap Up – Time to Buy?

NGL Energy Partners LP (NYSE:NGL)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $4.77, but opened at $4.90. NGL Energy Partners shares last traded at $4.75, with a volume of 11,840 shares.

NGL Energy Partners Price Performance

The company has a market cap of $612.54 million, a P/E ratio of -1.84 and a beta of 1.71. The company has a fifty day simple moving average of $5.09 and a 200-day simple moving average of $4.64.

NGL Energy Partners (NYSE:NGL) last announced its quarterly earnings data on Monday, February 10th. The oil and gas company reported ($0.12) earnings per share (EPS) 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%. On average, analysts anticipate that NGL Energy Partners LP will post -0.22 EPS for the current year.

Insider Buying and Selling at NGL Energy Partners

In other news, CEO H Michael Krimbill bought 15,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were bought at an average cost of $4.49 per share, with a total value of $67,350.00. Following the transaction, the chief executive officer now directly owns 603,000 shares in the company, valued at approximately $2,707,470. This trade represents a 2.55 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Investors Weigh In On NGL Energy Partners

Several institutional investors have recently made changes to their positions in the company. Tidal Investments LLC raised its position in NGL Energy Partners by 37.2% during the fourth quarter. Tidal Investments LLC now owns 48,743 shares of the oil and gas company’s stock valued at $243,000 after acquiring an additional 13,216 shares in the last quarter. Scissortail Wealth Management LLC bought a new position in shares of NGL Energy Partners during the 4th quarter valued at $71,000. Cresset Asset Management LLC acquired a new stake in shares of NGL Energy Partners in the 4th quarter valued at $109,000. Bank of America Corp DE boosted its holdings in NGL Energy Partners by 27.3% in the fourth quarter. Bank of America Corp DE now owns 6,812,752 shares of the oil and gas company’s stock worth $33,996,000 after purchasing an additional 1,461,754 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in NGL Energy Partners during the fourth quarter worth $61,000. 40.62% of the stock is currently owned by institutional investors and hedge funds.

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.