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NGL Energy Partners LP (NGL) Gains As Market Dips: What You Should Know
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NGL Energy Partners LP (NGL - Free Report) closed the most recent trading day at $2.83, moving +1.07% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.64%. Elsewhere, the Dow lost 1.01%, while the tech-heavy Nasdaq lost 4.13%.
Coming into today, shares of the company had lost 0.34% in the past month. In that same time, the Oils-Energy sector lost 6.73%, while the S&P 500 gained 0.13%.
Investors will be hoping for strength from NGL Energy Partners LP as it approaches its next earnings release, which is expected to be May 31, 2023. Our most recent consensus estimate is calling for quarterly revenue of $2.32 billion, down 8.46% from the year-ago period.
Investors should also note any recent changes to analyst estimates for NGL Energy Partners LP. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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 remained stagnant within the past month. NGL Energy Partners LP is currently a Zacks Rank #3 (Hold).
Looking at its valuation, NGL Energy Partners LP is holding a Forward P/E ratio of 9.03. This valuation marks a discount compared to its industry's average Forward P/E of 9.93.
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 40, 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.
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) Gains As Market Dips: What You Should Know
NGL Energy Partners LP (NGL - Free Report) closed the most recent trading day at $2.83, moving +1.07% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.64%. Elsewhere, the Dow lost 1.01%, while the tech-heavy Nasdaq lost 4.13%.
Coming into today, shares of the company had lost 0.34% in the past month. In that same time, the Oils-Energy sector lost 6.73%, while the S&P 500 gained 0.13%.
Investors will be hoping for strength from NGL Energy Partners LP as it approaches its next earnings release, which is expected to be May 31, 2023. Our most recent consensus estimate is calling for quarterly revenue of $2.32 billion, down 8.46% from the year-ago period.
Investors should also note any recent changes to analyst estimates for NGL Energy Partners LP. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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 remained stagnant within the past month. NGL Energy Partners LP is currently a Zacks Rank #3 (Hold).
Looking at its valuation, NGL Energy Partners LP is holding a Forward P/E ratio of 9.03. This valuation marks a discount compared to its industry's average Forward P/E of 9.93.
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 40, 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.