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Earnings Estimates Moving Higher for NGL Energy Partners (NGL): Time to Buy?
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NGL Energy Partners LP (NGL - Free Report) is owner and operator of crude oil logistics, water solutions, liquids, retail propane refined products and renewables businesses 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, 3 estimates have gone higher for NGL Energy Partners, with no downward revisions in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 28 cents a share 30 days ago, to a loss of 12 cents a share today, a significant move.
Current Year Estimates for NGL
Meanwhile, NGL Energy Partners’ current year figures are also looking quite promising, with 4 estimates moving higher in the past month, with no downward revisions. The consensus estimate trend has also seen a boost for this time frame, increasing from 83 cents per share 30 days ago to $1.15 per share today, an increase of 38.5%.
Bottom Line
The stock has also started to move higher lately, adding 36.7% 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 (Hold) stock to profit in the near future.
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Earnings Estimates Moving Higher for NGL Energy Partners (NGL): Time to Buy?
NGL Energy Partners LP (NGL - Free Report) is owner and operator of crude oil logistics, water solutions, liquids, retail propane refined products and renewables businesses 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, 3 estimates have gone higher for NGL Energy Partners, with no downward revisions in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 28 cents a share 30 days ago, to a loss of 12 cents a share today, a significant move.
Current Year Estimates for NGL
Meanwhile, NGL Energy Partners’ current year figures are also looking quite promising, with 4 estimates moving higher in the past month, with no downward revisions. The consensus estimate trend has also seen a boost for this time frame, increasing from 83 cents per share 30 days ago to $1.15 per share today, an increase of 38.5%.
Bottom Line
The stock has also started to move higher lately, adding 36.7% 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 (Hold) stock to profit in the near future.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>