NGL Energy Partners LP (NGL) Gains As Market Dips: What You Should Know
In the latest trading session, NGL Energy Partners LP (NGL) closed at $4.05, marking a +0.25% move from the previous day. This move outpaced the S&P 500's daily loss of 0.53%.
Heading into today, shares of the company had gained 28.25% over the past month, outpacing the Oils-Energy sector's gain of 1.09% and the S&P 500's gain of 4.86% in that time.
NGL Energy Partners LP will be looking to display strength as it nears its next earnings release. In that report, analysts expect NGL Energy Partners LP to post earnings of $0.11 per share. This would mark year-over-year growth of 375%. Meanwhile, our latest consensus estimate is calling for revenue of $2.15 billion, down 13.79% from the prior-year quarter.
NGL's full-year Zacks Consensus Estimates are calling for earnings of $0.87 per share and revenue of $8.56 billion. These results would represent year-over-year changes of +866.67% and -1.53%, respectively.
Investors should also note any recent changes to analyst estimates for NGL Energy Partners LP. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 171.88% higher. NGL Energy Partners LP is currently a Zacks Rank #2 (Buy).
Investors should also note NGL Energy Partners LP's current valuation metrics, including its Forward P/E ratio of 4.64. Its industry sports an average Forward P/E of 10.83, so we one might conclude that NGL Energy Partners LP is trading at a discount comparatively.
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 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.
To follow NGL in the coming trading sessions, be sure to utilize Zacks.com.
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NGL Energy Partners LP (NGL) : Free Stock Analysis Report
