NGL Energy Partners LP (NYSE:NGL) shares, rose in value on Friday, 05/13/22, with the stock price up by 3.17% to the previous day’s close as strong demand from buyers drove the stock to $1.95.
Actively observing the price movement in the last trading, the stock closed the session at $1.89, falling within a range of $1.88 and $1.95. The value of beta (5-year monthly) was 2.56. Referring to stock’s 52-week performance, its high was $3.20, and the low was $1.38. On the whole, NGL has fluctuated by -12.95% over the past month.
With the market capitalization of NGL Energy Partners LP currently standing at about $247.16 million, investors are eagerly awaiting this quarter’s results, scheduled for Feb 07, 2022 – Feb 11, 2022. 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 $0.16, which is expected to increase to $0.29 for fiscal year -$1.31 and then to about $0.32 by fiscal year 2023. Data indicates that the EPS growth is expected to be 76.90% in 2023, while the next year’s EPS growth is forecast to be 124.40%.
Analysts have estimated the company’s revenue for the quarter at $1.9 billion, with a low estimate of $1.63 billion and a high estimate of $2.39 billion. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $7.22 billion, representing an increase of 38.10% 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% Sell on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a 50% Sell.
4 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 2 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 -5.75% and -11.50% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 40.61, while the 7-day volatility ratio is showing 5.38% which for the 30-day chart, stands at 5.02%. Furthermore, NGL Energy Partners LP (NGL)’s beta value is 2.21, and its average true range (ATR) is 0.10.
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 3.17% in last session, and over the past year, it shrunk by -8.88%%. In comparison, Blueknight Energy Partners L.P. (BKEP) has moved lower at -0.22% on the day and was up 26.05% over the past 12 months. On the other hand, the price of Cheniere Energy Inc. (LNG) has risen 2.67% on the day. The stock, however, is off 61.67% from where it was a year ago. Additionally, there is a gain of 4.62% for Martin Midstream Partners L.P. (MMLP) in last trading while the stock has seen an overall depriciation of 45.20%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 2.39%. Meanwhile, the Dow Jones Industrial Improved by 1.47%.
Data on historical trading for NGL Energy Partners LP (NYSE:NGL) indicates that the trading volumes over the past 10 days have averaged 0.65 million and over the past 3 months, they’ve averaged 877.79K. According to company’s latest data on outstanding shares, there are 129.81 million shares outstanding.
Nearly 3.00% of NGL Energy Partners LP’s shares belong to company insiders and institutional investors own 30.70% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 2.03 million shares as on Dec 30, 2021, resulting in a short ratio of 1.67. According to the data, the short interest in NGL Energy Partners LP (NGL) stood at 1.57% of shares outstanding as of Dec 30, 2021; the number of short shares registered in Nov 29, 2021 reached 2.14 million. The stock has risen by 7.14% 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.