NGL Energy Partners LP (NGL) saw a big move last session, as the company’s units fell nearly 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for NGL, as the stock is now up 9% in the past one-month time frame.
This slump shouldn’t be too much of a surprise to investors, as this oil refining and marketing MLP has seen 4 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
NGL currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 50.00%.
Some better-ranked stocks in the broader energy sector include TC PipeLines, LP (TCP), Ultra Petroleum Corp. (UPL) and Encana Corporation (ECA). All these stocks carry a Zacks Rank #1 (Strong Buy).
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NGL ENERGY PARTNERS LP (NGL): Free Stock Analysis Report
TC PIPELINES LP (TCP): Free Stock Analysis Report
ULTRA PETROLEUM CORP (UPL): Free Stock Analysis Report
ENCANA CORP (ECA): Free Stock Analysis Report
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