NGL Energy Partners LP (NGL) Stock Moves -0.63%: What You Should Know
NGL Energy Partners LP (NGL) closed at $3.13 in the latest trading session, marking a -0.63% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.73%. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq lost 7.92%.
Prior to today's trading, shares of the company had gained 12.9% over the past month. This has outpaced the Oils-Energy sector's loss of 3.58% and the S&P 500's gain of 0.5% in that time.
Investors will be hoping for strength from NGL Energy Partners LP as it approaches its next earnings release, which is expected to be May 31, 2023. Our most recent consensus estimate is calling for quarterly revenue of $2.32 billion, down 8.46% from the year-ago period.
Investors should also note any recent changes to analyst estimates for NGL Energy Partners LP. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. NGL Energy Partners LP is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note NGL Energy Partners LP's current valuation metrics, including its Forward P/E ratio of 9.84. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 9.84.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 39, which puts it in the top 16% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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NGL Energy Partners LP (NGL) : Free Stock Analysis Report
