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Why NGL Energy Partners (NGL) Could Be Positioned for a Surge?

Zacks Equity Research

NGL Energy Partners LP (NGL) is a mining company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on NGL’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that NGL Energy Partners could be a solid choice for investors.  

Current Quarter Estimates for NGL

In the past 30 days, there has been no estimate revision in either direction.  However, the consensus estimate trend has been pretty favourable, with estimates increasing from 57 cents 30 days ago to 59 cents today, an increase of 3.5%.

Current Year Estimates for NGL

Meanwhile, NGL Energy Partners’ current year figures are also looking quite promising. Though no estimates moved higher in the past month, the consensus estimate trend has seen a boost for this time frame, increasing from 62 cents per share 30 days ago to 65 cents per share today, an increase of 4.8 %.   

Bottom Line

The stock has also started to move higher lately, adding 9.0% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 NGL Energy Partners stock to profit in the near future.  

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NGL ENERGY PARTNERS LP (NGL): Free Stock Analysis Report

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