NGL Energy Partners (NYSE:NGL) Reaches New 12-Month Low – Should You Sell?

NGL Energy Partners LP (NYSE:NGL)’s share price hit 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 stock’s fifty day simple moving average is $4.36 and its 200 day simple moving average is $4.78. The company has a quick ratio of 0.96, a current ratio of 1.15 and a debt-to-equity ratio of 28.52.

Institutional Investors Weigh In On NGL Energy Partners

Hedge funds have recently modified their holdings of the company. Citigroup Inc. boosted its holdings in NGL Energy Partners by 15.9% in 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 during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in NGL Energy Partners in the 3rd quarter valued at about $900,000. Sanctuary Advisors LLC purchased a new stake in NGL Energy Partners during the 2nd quarter worth approximately $721,000. NBW Capital LLC increased its stake in NGL Energy Partners by 40.7% during the 1st quarter. NBW Capital LLC now owns 438,962 shares of the oil and gas company’s stock worth $2,528,000 after buying an additional 126,881 shares during the period. Finally, ING Groep NV increased its stake in NGL Energy Partners by 5.5% during the 3rd quarter. ING Groep NV now owns 1,561,803 shares of the oil and gas company’s stock worth $7,028,000 after buying an additional 80,803 shares during the period. Hedge funds and other institutional investors 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.