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NGL Energy Partners LP (NGL) Dips More Than Broader Markets: What You Should Know
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NGL Energy Partners LP (NGL - Free Report) closed the most recent trading day at $2.88, moving -1.03% from the previous trading session. This change lagged the S&P 500's daily loss of 0.21%. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq lost 0.64%.
Heading into today, shares of the company had lost 0.68% over the past month, lagging the Oils-Energy sector's gain of 6.61% and the S&P 500's gain of 7.71% in that time.
Investors will be hoping for strength from NGL Energy Partners LP as it approaches its next earnings release. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.41 billion, down 4.94% from the year-ago period.
Investors might also notice recent changes to analyst estimates for NGL Energy Partners LP. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. NGL Energy Partners LP is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, NGL Energy Partners LP is currently trading at a Forward P/E ratio of 9.09. This valuation marks a discount compared to its industry's average Forward P/E of 10.44.
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 76, which puts it in the top 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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NGL Energy Partners LP (NGL) Dips More Than Broader Markets: What You Should Know
NGL Energy Partners LP (NGL - Free Report) closed the most recent trading day at $2.88, moving -1.03% from the previous trading session. This change lagged the S&P 500's daily loss of 0.21%. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq lost 0.64%.
Heading into today, shares of the company had lost 0.68% over the past month, lagging the Oils-Energy sector's gain of 6.61% and the S&P 500's gain of 7.71% in that time.
Investors will be hoping for strength from NGL Energy Partners LP as it approaches its next earnings release. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.41 billion, down 4.94% from the year-ago period.
Investors might also notice recent changes to analyst estimates for NGL Energy Partners LP. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. NGL Energy Partners LP is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, NGL Energy Partners LP is currently trading at a Forward P/E ratio of 9.09. This valuation marks a discount compared to its industry's average Forward P/E of 10.44.
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 76, which puts it in the top 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.