NGL Energy Partners LP (NGL - Free Report) closed the most recent trading day at $14.19, moving +1.87% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.21%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq lost 0.05%.
Prior to today's trading, shares of the company had gained 6.58% over the past month. This has outpaced the Oils-Energy sector's gain of 0.93% and the S&P 500's gain of 2.57% in that time.
NGL will be looking to display strength as it nears its next earnings release. On that day, NGL is projected to report earnings of $0.26 per share, which would represent a year-over-year decline of 63.38%. Our most recent consensus estimate is calling for quarterly revenue of $6.46 billion, up 26.36% from the year-ago period.
Any recent changes to analyst estimates for NGL should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. NGL is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note NGL's current valuation metrics, including its Forward P/E ratio of 30.12. For comparison, its industry has an average Forward P/E of 14.11, which means NGL is trading at a premium to the group.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 39, putting it in the top 16% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.