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Why NGL Energy Partners Units Are Soaring Again Today

TheMotleyFool

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Why NGL Energy Partners Units Are Soaring Again Today: https://g.foolcdn.com/editorial/images/720586/oil-industry-pumps-rig-gas-barrel-getty.jpg

Shares of NGL Energy Partners (NYSE: NGL) were soaring 12.5% higher at 10:57 a.m. ET on Monday, continuing their meteoric ascent following an upbeat fiscal third-quarter earnings report on Thursday that saw it turn a $0.35-per-share loss last year into a $0.19-per-share profit this year.

NGL's units -- since it is a master limited partnership (MLP), it issues units, not shares -- have now nearly doubled in value this year. Since they are traded on the NYSE, they function much like stock shares.

Image source: Getty Images.

Source Fool.com

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