NGL Energy Partners (NYSE:NGL) Releases Quarterly Earnings Results, Misses Estimates By $0.63 EPS

Posted by on Jun 8th, 2022

NGL Energy Partners (NYSE:NGL – Get Rating) posted its quarterly earnings results on Monday. The oil and gas company reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.20 by ($0.63), MarketWatch Earnings reports. NGL Energy Partners had a negative net margin of 2.97% and a negative return on equity of 15.38%. During the same quarter last year, the business earned ($0.50) earnings per share.

NGL Energy Partners stock opened at $2.05 on Wednesday. The company has a debt-to-equity ratio of 8.63, a current ratio of 1.27 and a quick ratio of 0.99. The firm has a 50-day moving average price of $2.08 and a two-hundred day moving average price of $2.13. NGL Energy Partners has a 52-week low of $1.38 and a 52-week high of $2.91.

In other news, CEO H Michael Krimbill bought 100,000 shares of NGL Energy Partners stock in a transaction on Tuesday, March 15th. The stock was purchased at an average cost of $2.12 per share, with a total value of $212,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

A number of institutional investors have recently bought and sold shares of NGL. Wells Fargo & Company MN boosted its stake in NGL Energy Partners by 53.8% during the 2nd quarter. Wells Fargo & Company MN now owns 61,282 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 21,448 shares during the period. Morgan Stanley lifted its stake in shares of NGL Energy Partners by 12.7% in the 2nd quarter. Morgan Stanley now owns 7,319,932 shares of the oil and gas company’s stock worth $17,420,000 after acquiring an additional 827,157 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of NGL Energy Partners by 22.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 34,923 shares of the oil and gas company’s stock worth $83,000 after acquiring an additional 6,336 shares during the period. LPL Financial LLC lifted its stake in shares of NGL Energy Partners by 659.7% in the 4th quarter. LPL Financial LLC now owns 110,307 shares of the oil and gas company’s stock worth $201,000 after acquiring an additional 95,787 shares during the period. Finally, Credit Suisse AG lifted its stake in shares of NGL Energy Partners by 186.8% in the 4th quarter. Credit Suisse AG now owns 1,023,055 shares of the oil and gas company’s stock worth $1,862,000 after acquiring an additional 666,333 shares during the period. 30.23% of the stock is owned by hedge funds and other institutional investors.

NGL has been the subject of several research reports. StockNews.com initiated coverage on shares of NGL Energy Partners in a report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research lowered shares of NGL Energy Partners from a “buy” rating to a “hold” rating in a report on Tuesday, May 17th.

NGL Energy Partners Company Profile (Get Rating)

NGL Energy Partners LP engages in the crude oil and liquids logistics, and water solution businesses. The company's Crude Oil Logistics segment purchases crude oil from producers and marketers, and transports it to refineries for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs; and provides storage, terminaling, and pipeline transportation services.

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Earnings History for NGL Energy Partners (NYSE:NGL)

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