NGL Energy Partners (NYSE:NGL) Stock Gains Momentum: Here is Why
This morning investors are going to be keenly looking into those stocks which may have managed to clock significant gains on Monday and one of the stocks which could be worth tracking is that of NGL Energy Partners (NYSE:NGL).
It was in the middle of a great run on Monday and ended the day with gains of as much as 29%. The bullish sentiments about the NGL Energy Partners among investors is possibly linked to the strong and upbeat fiscal third-quarter results that had been announced by the company last week on Thursday.
It is easy to see why investors may be optimistic about the stock at this point. The company swung back into profits as it generated $0.19 per share in profits as compared to losses of $0.35 a share in the prior year’s quarter. It should be noted that the company does not issue shares but units and through the course of the year so far, those units have doubled in value.
The units are traded on the New York Stock Exchange and work similarly to the way in which shares work. Investors could consider adding the NGL Energy Partners stock to their watch lists for the week.