NGL Energy Partners LP (NYSE:NGL) shares, rose in value on Wednesday, 10/13/21, with the stock price up by 3.21% to the previous day’s close as strong demand from buyers drove the stock to $2.57.
Actively observing the price movement in the last trading, the stock closed the session at $2.49, falling within a range of $2.45 and $2.58. The value of beta (5-year monthly) was 2.68. Referring to stock’s 52-week performance, its high was $4.39, and the low was $1.38. On the whole, NGL has fluctuated by 47.70% over the past month.
With the market capitalization of NGL Energy Partners LP currently standing at about $324.72 million, investors are eagerly awaiting this quarter’s results, scheduled for Nov 08, 2021 – Nov 12, 2021. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.15, which is expected to increase to $0.26 for fiscal year -$0.9 and then to about $0.03 by fiscal year 2023. Data indicates that the EPS growth is expected to be 84.20% in 2023, while the next year’s EPS growth is forecast to be 103.30%.
Analysts have estimated the company’s revenue for the quarter at $1.51 billion, with a low estimate of $1.28 billion and a high estimate of $1.94 billion. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $6.86 billion, representing an increase of 31.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that NGL’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Buy.
5 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 3 analyst(s), 0 recommend it as a Buy and 0 called the NGL stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 2 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Underweight.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of NGL currently trading nearly 12.52% and 34.41% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 75.92, while the 7-day volatility ratio is showing 3.97% which for the 30-day chart, stands at 6.78%. Furthermore, NGL Energy Partners LP (NGL)’s beta value is 2.69, and its average true range (ATR) is 0.13. The company’s stock has been forecasted to trade at an average price of $2.50 over the course of the next 52 weeks, with a low of $1.75 and a high of $3.00. Based on these price targets, the low is 31.91% off current price, whereas the price has to move -16.73% to reach the yearly target high. Additionally, analysts’ median price of $2.63 is likely to be welcomed by investors because it represents a decrease of -2.33% from the current levels.
A comparison of NGL Energy Partners LP (NGL) with its peers suggests the former has fared considerably weaker in the market. NGL showed an intraday change of 3.21% in last session, and over the past year, it shrunk by -35.59%%. In comparison, Blueknight Energy Partners L.P. (BKEP) has moved higher at 6.46% on the day and was up 156.30% over the past 12 months. On the other hand, the price of Cheniere Energy Inc. (LNG) has risen 2.43% on the day. The stock, however, is off 110.61% from where it was a year ago. Additionally, there is a loss of -0.85% for Martin Midstream Partners L.P. (MMLP) in last trading while the stock has seen an overall depriciation of 107.74%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 0.30%. Meanwhile, the Dow Jones Industrial Slipped by 0.00%.
Data on historical trading for NGL Energy Partners LP (NYSE:NGL) indicates that the trading volumes over the past 10 days have averaged 0.88 million and over the past 3 months, they’ve averaged 1.53 million. According to company’s latest data on outstanding shares, there are 129.59 million shares outstanding.
Nearly 2.60% of NGL Energy Partners LP’s shares belong to company insiders and institutional investors own 35.50% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 2.78 million shares as on Sep 14, 2021, resulting in a short ratio of 2.13. According to the data, the short interest in NGL Energy Partners LP (NGL) stood at 2.15% of shares outstanding as of Sep 14, 2021; the number of short shares registered in Aug 12, 2021 reached 3.05 million. The stock has risen by 7.08% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NGL stock heading into the next quarter.