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NGL Energy Partners LP (NGL) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, NGL Energy Partners LP (NGL - Free Report) closed at $14.26, marking a -1.79% move from the previous day. This change lagged the S&P 500's 0.1% gain on the day. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq lost 0.66%.
Heading into today, shares of the company had gained 3.2% over the past month, outpacing the Oils-Energy sector's loss of 1.17% and lagging the S&P 500's gain of 3.95% in that time.
NGL will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.27, down 61.97% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.13 billion, up 19.87% from the year-ago period.
It is also important to note the recent changes to analyst estimates for NGL. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 5.41% lower within the past month. NGL is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, NGL is currently trading at a Forward P/E ratio of 33.19. Its industry sports an average Forward P/E of 15.37, so we one might conclude that NGL is trading at a premium comparatively.
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 238, putting it in the bottom 7% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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NGL Energy Partners LP (NGL) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, NGL Energy Partners LP (NGL - Free Report) closed at $14.26, marking a -1.79% move from the previous day. This change lagged the S&P 500's 0.1% gain on the day. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq lost 0.66%.
Heading into today, shares of the company had gained 3.2% over the past month, outpacing the Oils-Energy sector's loss of 1.17% and lagging the S&P 500's gain of 3.95% in that time.
NGL will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.27, down 61.97% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.13 billion, up 19.87% from the year-ago period.
It is also important to note the recent changes to analyst estimates for NGL. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 5.41% lower within the past month. NGL is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, NGL is currently trading at a Forward P/E ratio of 33.19. Its industry sports an average Forward P/E of 15.37, so we one might conclude that NGL is trading at a premium comparatively.
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 238, putting it in the bottom 7% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.