In the latest trading session, NGL Energy Partners LP (NGL) closed at $4.30, marking a +0.47% move from the previous day. This move lagged the S&P 500’s daily gain of 0.84%. Meanwhile, the Dow gained 0.03%, and the Nasdaq, a tech-heavy index, added 2.51%.
Heading into today, shares of the company had lost 23.57% over the past month, lagging the Oils-Energy sector’s loss of 2.76% and the S&P 500’s gain of 3.73% in that time.
Wall Street will be looking for positivity from NGL as it approaches its next earnings report date. On that day, NGL is projected to report earnings of -$0.07 per share, which would represent year-over-year growth of 92.71%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.46 billion, down 77.98% from the year-ago period.
NGL’s full-year Zacks Consensus Estimates are calling for earnings of $0.29 per share and revenue of $6.48 billion. These results would represent year-over-year changes of -52.46% and -56.3%, respectively.
Investors should also note any recent changes to analyst estimates for NGL. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 remained stagnant. NGL is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, NGL is holding a Forward P/E ratio of 14.93. This represents a premium compared to its industry’s average Forward P/E of 10.98.
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 43, putting it in the top 17% 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.