Yahoo Finance NGL Energy Partners LP (NGL) Stock Sinks As Market Gains: What You Should Know
NGL Energy Partners LP (NGL) closed at $2.74 in the latest trading session, marking a -0.72% move from the prior day. This change lagged the S&P 500's 0.05% gain on the day. Meanwhile, the Dow lost 0.17%, and the Nasdaq, a tech-heavy index, added 6.02%.
Prior to today's trading, shares of the company had lost 10.68% over the past month. This has lagged the Oils-Energy sector's loss of 4.4% and the S&P 500's gain of 1.18% in that time.
NGL Energy Partners LP will be looking to display strength as it nears its next earnings release, which is expected to be May 31, 2023. Meanwhile, our latest consensus estimate is calling for revenue of $2.32 billion, down 8.46% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for NGL Energy Partners LP. 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. NGL Energy Partners LP is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note NGL Energy Partners LP's current valuation metrics, including its Forward P/E ratio of 8.63. This represents a discount compared to its industry's average Forward P/E of 10.34.
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 61, putting it in the top 25% 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.
To follow NGL in the coming trading sessions, be sure to utilize Zacks.com.
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NGL Energy Partners LP (NGL) : Free Stock Analysis Report
