$6.03 Billion in Sales Expected for NGL Energy Partners LP (NGL) This Quarter

Equities analysts expect that NGL Energy Partners LP (NYSE:NGL) will report sales of $6.03 billion for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for NGL Energy Partners’ earnings, with estimates ranging from $5.60 billion to $6.46 billion. NGL Energy Partners posted sales of $5.11 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 18%. The company is expected to announce its next earnings report on Wednesday, May 29th.

According to Zacks, analysts expect that NGL Energy Partners will report full-year sales of $24.85 billion for the current fiscal year, with estimates ranging from $24.48 billion to $25.34 billion. For the next year, analysts expect that the business will report sales of $24.59 billion, with estimates ranging from $21.32 billion to $27.27 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover NGL Energy Partners.

NGL Energy Partners (NYSE:NGL) last posted its quarterly earnings data on Monday, February 11th. The oil and gas company reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.49. NGL Energy Partners had a return on equity of 1.21% and a net margin of 1.51%. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.11 billion.

A number of equities research analysts have weighed in on NGL shares. ValuEngine raised NGL Energy Partners from a “sell” rating to a “hold” rating in a report on Wednesday, February 13th. Credit Suisse Group downgraded NGL Energy Partners from an “outperform” rating to a “neutral” rating and raised their target price for the company from $14.00 to $15.00 in a report on Wednesday, February 20th. Wells Fargo & Co reaffirmed a “hold” rating on shares of NGL Energy Partners in a report on Wednesday, February 13th. Finally, Zacks Investment Research raised NGL Energy Partners from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Wednesday, January 16th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $13.67.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC purchased a new position in NGL Energy Partners in the first quarter worth $28,000. Wiley BROS. Aintree Capital LLC boosted its stake in shares of NGL Energy Partners by 39.3% in the first quarter. Wiley BROS. Aintree Capital LLC now owns 47,010 shares of the oil and gas company’s stock valued at $660,000 after purchasing an additional 13,255 shares during the period. Municipal Employees Retirement System of Michigan purchased a new position in shares of NGL Energy Partners in the fourth quarter valued at approximately $5,038,000. Requisite Energy Fund I LP purchased a new position in shares of NGL Energy Partners in the fourth quarter valued at approximately $115,000. Finally, Bank of America Corp DE boosted its stake in shares of NGL Energy Partners by 4.3% in the fourth quarter. Bank of America Corp DE now owns 1,552,942 shares of the oil and gas company’s stock valued at $14,892,000 after purchasing an additional 64,164 shares during the period. 63.89% of the stock is currently owned by institutional investors.

Shares of NGL stock traded up $0.08 during trading hours on Thursday, reaching $14.19. The company’s stock had a trading volume of 375,457 shares, compared to its average volume of 736,774. The company has a market cap of $1.76 billion, a PE ratio of -20.87 and a beta of 1.31. NGL Energy Partners has a fifty-two week low of $8.71 and a fifty-two week high of $14.42. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.89 and a current ratio of 1.25.

About NGL Energy Partners

NGL Energy Partners LP, together with its subsidiaries, engages in the crude oil logistics, water solutions, liquids, retail propane, and refined products and renewables businesses. The Crude Oil Logistics segment purchases crude oil from producers and transports it to refineries for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs; and provides storage, terminaling, trucking, marine, and pipeline transportation services.

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