NGL Energy Partners (NYSE:NGL) Sets New 12-Month Low – Here’s What Happened

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

NGL Energy Partners Price Performance

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 has a market cap of $583.04 million, a P/E ratio of -1.90 and a beta of 1.70. The company has a fifty day moving average price of $4.37 and a two-hundred day moving average price of $4.78.

Hedge Funds Weigh In On NGL Energy Partners

Several institutional investors have recently modified their holdings of the business. Citigroup Inc. lifted its holdings in shares of 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 valued at $10,922,000 after purchasing an additional 333,531 shares in the last quarter. ING Groep NV raised its position in 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 last quarter. Stephens Inc. AR raised its position in NGL Energy Partners by 49.0% in the 3rd quarter. Stephens Inc. AR now owns 152,000 shares of the oil and gas company’s stock valued at $684,000 after buying an additional 50,000 shares during the last quarter. Inscription Capital LLC raised its position in NGL Energy Partners by 87.5% in the 3rd quarter. Inscription Capital LLC now owns 105,000 shares of the oil and gas company’s stock valued at $472,000 after buying an additional 49,000 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in NGL Energy Partners in the 3rd quarter valued at approximately $46,000. Institutional investors own 40.62% of the company’s stock.

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.