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NGL Energy Partners LP (NGL) Stock Moves -1.35%: What You Should Know

NGL Energy Partners LP (NGL) closed at $2.93 in the latest trading session, marking a -1.35% move from the prior day. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, added 1.92%.

Coming into today, shares of the company had lost 10% in the past month. In that same time, the Oils-Energy sector gained 2.17%, while the S&P 500 gained 6.51%.

NGL Energy Partners LP will be looking to display strength as it nears 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.

It is also important to note the 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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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, 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 currently has a Zacks Rank of #1 (Strong Buy).

Valuation is also important, so investors should note that NGL Energy Partners LP has a Forward P/E ratio of 9.28 right now. This valuation marks a discount compared to its industry's average Forward P/E of 10.27.

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 29, putting it in the top 12% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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Zacks Investment Research