NGL Energy Partners LP (NGL) Flat As Market Sinks: What You Should Know
NGL Energy Partners LP (NGL) closed at $3.85 in the latest trading session, marking no change from the prior day. This move was narrower than the S&P 500's daily loss of 0.04%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 2.93%.
Heading into today, shares of the company had gained 23.4% over the past month, outpacing the Oils-Energy sector's gain of 2.07% and the S&P 500's gain of 4.22% in that time.
Wall Street will be looking for positivity from NGL Energy Partners LP as it approaches its next earnings report date. On that day, NGL Energy Partners LP is projected to report earnings of $0.11 per share, which would represent year-over-year growth of 375%. Our most recent consensus estimate is calling for quarterly revenue of $2.15 billion, down 13.79% from the year-ago period.
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 might also notice recent changes to analyst estimates for NGL Energy Partners LP. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 171.88% higher. NGL Energy Partners LP is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, NGL Energy Partners LP is currently trading at a Forward P/E ratio of 4.43. This represents a discount compared to its industry's average Forward P/E of 10.57.
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 62, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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
