$3.45 Billion in Sales Expected for NGL ENERGY PARTNERS LP (NGL) This Quarter
Wall Street analysts expect NGL ENERGY PARTNERS LP (NYSE:NGL) to announce $3.45 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for NGL ENERGY PARTNERS’s earnings, with estimates ranging from $2.84 billion to $4.11 billion. NGL ENERGY PARTNERS posted sales of $3.05 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 13.1%. The firm is expected to issue its next quarterly earnings results on Friday, November 3rd.
According to Zacks, analysts expect that NGL ENERGY PARTNERS will report full year sales of $3.45 billion for the current financial year, with estimates ranging from $14.14 billion to $14.55 billion. For the next financial year, analysts expect that the business will post sales of $15.11 billion per share, with estimates ranging from $13.39 billion to $17.33 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow NGL ENERGY PARTNERS.
NGL ENERGY PARTNERS (NYSE:NGL) last released its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.59) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by $0.21. NGL ENERGY PARTNERS had a negative net margin of 0.73% and a negative return on equity of 5.00%. The company had revenue of $3.78 billion during the quarter, compared to analyst estimates of $2.59 billion.
A number of research analysts have weighed in on the company. Zacks Investment Research lowered NGL ENERGY PARTNERS from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Royal Bank Of Canada dropped their target price on NGL ENERGY PARTNERS from $27.00 to $24.00 and set an “outperform” rating for the company in a research report on Tuesday, April 25th. FBR & Co downgraded NGL ENERGY PARTNERS from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $28.00 to $22.00 in a research report on Tuesday, April 25th. BidaskClub upgraded NGL ENERGY PARTNERS from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 29th. Finally, Wells Fargo & Company downgraded NGL ENERGY PARTNERS from an “outperform” rating to a “market perform” rating in a research report on Monday, July 17th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $19.00.
Shares of NGL ENERGY PARTNERS (NGL) opened at 9.95 on Friday. The stock has a 50 day moving average of $12.58 and a 200-day moving average of $17.69. NGL ENERGY PARTNERS has a 12 month low of $9.63 and a 12 month high of $25.80. The company’s market cap is $1.21 billion.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Friday, August 4th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 15.68%. The ex-dividend date of this dividend is Wednesday, August 2nd. NGL ENERGY PARTNERS’s payout ratio is -124.80%.
In related news, Director Highstar Capital Iv, L.P. sold 157,559 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $13.82, for a total transaction of $2,177,465.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 477,653 shares of company stock valued at $6,541,910.
Institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC raised its stake in NGL ENERGY PARTNERS by 410.9% in the second 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 stake in shares of NGL ENERGY PARTNERS by 32.0% in the second quarter. Oppenheimer & Co. Inc. now owns 14,450 shares of the oil and gas company’s stock worth $202,000 after buying an additional 3,500 shares in the last quarter. CFO4Life Group LLC acquired a new stake in shares of NGL ENERGY PARTNERS during the first quarter worth about $208,000. Proficio Capital Partners LLC raised its stake in shares of NGL ENERGY PARTNERS by 68.9% in the second quarter. Proficio Capital Partners LLC now owns 16,990 shares of the oil and gas company’s stock worth $208,000 after buying an additional 6,932 shares in the last quarter. Finally, HAP Trading LLC acquired a new stake in shares of NGL ENERGY PARTNERS during the second quarter worth about $221,000. 75.92% of the stock is owned by institutional investors.
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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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