NGL Energy Partners LP (NYSE:NGL) closed Wednesday at $1.27 per share, up from $1.26 a day earlier. While NGL Energy Partners LP has overperformed by 0.79%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, NGL fell by -41.47%, with highs and lows ranging from $2.80 to $1.21, whereas the simple moving average fell by -27.71% in the last 200 days.
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On February 18, 2021, UBS Upgraded NGL Energy Partners LP (NYSE: NGL) to Neutral. A report published by UBS on October 16, 2020, Downgraded its rating to ‘Sell’ for NGL. Wells Fargo also Downgraded NGL shares as ‘Underweight’, setting a target price of $4 on the company’s shares in a report dated July 22, 2020. Credit Suisse April 02, 2020d the rating to Underperform on April 02, 2020, and set its price target from $5 to $2. RBC Capital Mkts March 16, 2020d its ‘Outperform’ rating to ‘Sector Perform’ for NGL, as published in its report on March 16, 2020. UBS also rated the stock as ‘Neutral’.
Analysis of NGL Energy Partners LP (NGL)
Further, the quarter-over-quarter increase in sales is 14.60%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of NGL Energy Partners LP’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -31.60% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.10, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and NGL is recording an average volume of 366.03K. On a monthly basis, the volatility of the stock is set at 5.40%, whereas on a weekly basis, it is put at 2.88%, with a loss of -1.55% over the past seven days. Furthermore, long-term investors anticipate a median target price of $2.50, showing growth from the present price of $1.27, which can serve as yet another indication of whether NGL is worth investing in or should be passed over.
How Do You Analyze NGL Energy Partners LP Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 2.00%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 26.10% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in NGL shares?
The recent increase in stakes in NGL appears to be a result of several institutional investors and hedge funds increasing their positions. During the last quarter, the company picked up 0 additional shares for a total stake of worth $5.1 million, bringing number of shares owned by the company to 3,720,888.
During the first quarter, JPMorgan Securities LLC added a 223,038 position in NGL. Goldman Sachs & Co. LLC purchased an additional 0.22 million shares in the last quarter, increasing its holdings by 46.62%, now holding 0.7 million shares worth $0.95 million. At the end of the first quarter, GSA Capital Partners LLP increased its NGL holdings by 51.43% and now holds 0.52 million NGL shares valued at $0.72 million with the added 0.18 million shares during the period. NGL shares are owned by institutional investors to the tune of 26.10% at present.