NGL Energy Partners LP (NGL) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, NGL Energy Partners LP (NGL) closed at $3.90, marking a +1.04% move from the previous day. This move outpaced the S&P 500's daily gain of 0.08%. At the same time, the Dow lost 0.68%, and the tech-heavy Nasdaq lost 0.61%.
Prior to today's trading, shares of the company had gained 36.4% over the past month. This has outpaced the Oils-Energy sector's gain of 2.92% and the S&P 500's gain of 6.1% in that time.
Investors will be hoping for strength from NGL Energy Partners LP as it approaches its next earnings release. The company is expected to report EPS of $0.11, up 375% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.15 billion, down 13.79% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.87 per share and revenue of $8.56 billion, which would represent changes of +866.67% and -1.53%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for NGL Energy Partners LP. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 171.88% higher within the past month. NGL Energy Partners LP is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, NGL Energy Partners LP currently has a Forward P/E ratio of 4.44. For comparison, its industry has an average Forward P/E of 10.9, which means NGL Energy Partners LP is trading at a discount 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 58, which puts it in the top 24% 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
