NGL Energy Partners LP (NGL - Free Report) closed the most recent trading day at $13.88, moving +0.43% from the previous trading session. This move outpaced the S&P 500's daily loss of 2.41%. Meanwhile, the Dow lost 2.38%, and the Nasdaq, a tech-heavy index, lost 3.41%.
Heading into today, shares of the company had lost 1.29% over the past month, outpacing the Oils-Energy sector's loss of 5.22% and lagging the S&P 500's loss of 0.08% in that time.
Investors will be hoping for strength from NGL as it approaches its next earnings release. In that report, analysts expect NGL to post earnings of $0.27 per share. This would mark a year-over-year decline of 61.97%. Our most recent consensus estimate is calling for quarterly revenue of $6.13 billion, up 19.87% from the year-ago period.
Any recent changes to analyst estimates for NGL should also be noted by investors. Recent revisions tend to reflect the latest near-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. Over the past month, the Zacks Consensus EPS estimate has moved 5.41% lower. NGL currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, NGL is holding a Forward P/E ratio of 31.59. For comparison, its industry has an average Forward P/E of 14.75, 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 industry currently has a Zacks Industry Rank of 228, which puts it in the bottom 11% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NGL in the coming trading sessions, be sure to utilize Zacks.com.