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NGL Energy Partners LP (NYSE: NGL) Continues Its Upward Trend

The trading price of NGL Energy Partners LP (NYSE:NGL) closed higher on Tuesday, June 21, closing at $1.75, 13.64% higher than its previous close.

Traders who pay close attention to intraday price movement should know that it fluctuated between $1.56 and $1.76. In examining the 52-week price action we see that the stock hit a 52-week high of $2.91 and a 52-week low of $1.38. Over the past month, the stock has lost -10.26% in value.

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NGL Energy Partners LP, whose market valuation is $234.66 million at the time of this writing, is expected to release its quarterly earnings report Feb 07, 2022 – Feb 11, 2022. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0.17 per share this quarter, however they have predicted annual earnings per share of -$1.12 for 2022 and $0.26 for 2023. It means analysts are expecting annual earnings per share growth of 80.30% this year and 123.20% next year.

Analysts have forecast the company to bring in revenue of $2.34 billion for the current quarter, with the likely lows of $1.91 billion and highs of $2.77 billion. The average estimate suggests sales will likely up by 33.40% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2022 is $7.75 billion. The company’s revenue is forecast to grow by 48.30% over what it did in 2022.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of NGL Energy Partners LP No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest NGL has a 100% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Sell, while an average of long term indicators suggests that the stock is currently 100% Sell.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned NGL a recommendation rating is 3. Out of them, 1 rate it a Hold, while 0 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged NGL Energy Partners LP (NGL) as Underweight, while 2 advise Sell. Analysts have rated the stock Underweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

A quick review shows that NGL’s price is currently -6.96% off the SMA20 and -12.41% off the SMA50. The RSI metric on the 14-day chart is currently showing 43.85, and weekly volatility stands at 7.80%. When measured over the past 30 days, the indicator reaches 7.49%. NGL Energy Partners LP (NYSE:NGL)’s beta value is currently sitting at 2.11, while the Average True Range indicator is currently displaying 0.13. With analysts defining $2.00-$2.25 as the low and high price targets, we arrive at a consensus price target of $2.13 for the trailing 12-month period. The current price is about -14.29% off the estimated low and -28.57% off the forecast high, based on this estimate. Investors will be thrilled if NGL’s share price rises to $2.13, which is the median consensus price. At that level, NGL’s share price would be -21.71% below current price.

To see how NGL Energy Partners LP stock has been performing in comparison to its peers in the industry, here are the numbers: NGL stock’s performance was 13.64% in the latest trading, and -22.57% in the past year, while Blueknight Energy Partners L.P. (BKEP) has traded 0.11% on the day and positioned 26.69% higher than it was a year ago. Another comparable company Cheniere Energy Inc. (LNG) saw its stock close 5.36% higher in the most recent trading session but was up 55.71% in a year. Furthermore, Martin Midstream Partners L.P. (MMLP) showed an increase of 3.97% on the day while its price kept inclining at 23.97% over the past year. Also in last trading session, the S&P 500 Index has surged 2.45%, while the Dow Jones Industrial also saw a positive session, up 2.15% on the day.

An evaluation of the daily trading volume of NGL Energy Partners LP (NYSE:NGL) indicates that the 3-month average is 770.55K.

Currently, records show that 130.36 million of the company’s shares remain outstanding. The insiders hold 2.80% of outstanding shares, whereas institutions hold 27.90%. However, since the stock’s price has seen -3.85% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.

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