In the latest trading session, NGL Energy Partners LP (NGL) closed at $4.77, marking a +1.27% move from the previous day. This move outpaced the S&P 500's daily gain of 0.74%. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq gained 1.67%.
Coming into today, shares of the company had gained 15.44% in the past month. In that same time, the Oils-Energy sector gained 3.13%, while the S&P 500 gained 5.51%.
NGL will be looking to display strength as it nears its next earnings release. In that report, analysts expect NGL to post earnings of -$0.04 per share. This would mark year-over-year growth of 95.83%. Our most recent consensus estimate is calling for quarterly revenue of $1.22 billion, down 81.57% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.30 per share and revenue of $5.77 billion, which would represent changes of -50.82% and -61.11%, respectively, from the prior year.
Any recent changes to analyst estimates for NGL should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.65% higher. NGL is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, NGL is currently trading at a Forward P/E ratio of 15.7. For comparison, its industry has an average Forward P/E of 11.17, which means NGL is trading at a premium to the group.
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 80, which puts it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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