Is NGL Energy Partners (NGL) Stock Outpacing Its Oils-Energy Peers This Year?
Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is NGL Energy Partners (NGL) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
NGL Energy Partners is one of 312 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #11 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. NGL is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for NGL's full-year earnings has moved 93.73% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, NGL has gained about 46.72% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 15.96% on a year-to-date basis. As we can see, NGL Energy Partners is performing better than its sector in the calendar year.
To break things down more, NGL belongs to the Oil and Gas - Refining and Marketing - Master Limited Partnerships industry, a group that includes 14 individual companies and currently sits at #29 in the Zacks Industry Rank. On average, stocks in this group have gained 24.04% this year, meaning that NGL is performing better in terms of year-to-date returns.
NGL will likely be looking to continue its solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to the company.
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