Wall Street analysts expect Ngl Energy Partners Lp (NYSE:NGL) to post sales of $3.96 billion for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Ngl Energy Partners’ earnings. The highest sales estimate is $4.16 billion and the lowest is $3.76 billion. Ngl Energy Partners posted sales of $3.41 billion during the same quarter last year, which would suggest a positive year over year growth rate of 16.1%. The firm is expected to announce its next earnings report on Tuesday, February 6th.
On average, analysts expect that Ngl Energy Partners will report full-year sales of $3.96 billion for the current fiscal year, with estimates ranging from $14.43 billion to $16.09 billion. For the next financial year, analysts expect that the company will post sales of $14.59 billion per share, with estimates ranging from $13.41 billion to $16.38 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Ngl Energy Partners.
Several equities analysts have recently weighed in on the company. Zacks Investment Research cut Ngl Energy Partners from a “hold” rating to a “sell” rating in a report on Friday, November 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $16.00 price objective (up previously from $14.00) on shares of Ngl Energy Partners in a report on Tuesday, November 7th. Finally, Stifel Nicolaus lifted their price objective on Ngl Energy Partners from $10.00 to $12.00 and gave the company a “hold” rating in a report on Tuesday, November 21st. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $17.00.
A number of institutional investors have recently made changes to their positions in NGL. BNP Paribas Arbitrage SA raised its position in Ngl Energy Partners by 399.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,983 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 7,183 shares during the last quarter. Commonwealth Equity Services Inc acquired a new stake in Ngl Energy Partners in the 3rd quarter valued at approximately $117,000. Penserra Capital Management LLC raised its position in Ngl Energy Partners by 410.9% in the 2nd quarter. Penserra Capital Management LLC now owns 10,151 shares of the oil and gas company’s stock valued at $141,000 after buying an additional 8,164 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in Ngl Energy Partners by 32.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,450 shares of the oil and gas company’s stock valued at $202,000 after buying an additional 3,500 shares during the last quarter. Finally, HAP Trading LLC acquired a new stake in Ngl Energy Partners in the 2nd quarter valued at approximately $221,000. 63.82% of the stock is currently owned by institutional investors and hedge funds.
Ngl Energy Partners (NGL) opened at $13.85 on Thursday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.56 and a quick ratio of 0.99. Ngl Energy Partners has a 1-year low of $8.57 and a 1-year high of $25.80.
Ngl Energy Partners announced that its Board of Directors has initiated a share buyback plan on Tuesday, August 29th that permits the company to repurchase $15.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
Ngl Energy Partners Company Profile
NGL Energy Partners LP owns and operates a vertically integrated energy business. The Company’s segments are crude oil logistics, water solutions, liquids, retail propane, refined products and renewables, and corporate and other. Its crude oil logistics segment includes owned and leased crude oil storage terminals, and owned and leased pipeline injection stations.
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