Wall Street brokerages expect NGL Energy Partners (NYSE:NGL) to announce $4.56 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for NGL Energy Partners’ earnings, with the highest sales estimate coming in at $4.77 billion and the lowest estimate coming in at $4.34 billion. NGL Energy Partners reported sales of $3.85 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 18.4%. The firm is scheduled to issue its next earnings report on Thursday, May 24th.
On average, analysts expect that NGL Energy Partners will report full year sales of $4.56 billion for the current financial year, with estimates ranging from $16.50 billion to $17.03 billion. For the next year, analysts anticipate that the company will post sales of $17.79 billion per share, with estimates ranging from $16.91 billion to $18.66 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover NGL Energy Partners.
NGL Energy Partners (NYSE:NGL) last posted its earnings results on Friday, February 9th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.13. The firm had revenue of $4.46 billion during the quarter, compared to analyst estimates of $3.96 billion. NGL Energy Partners had a negative net margin of 0.97% and a negative return on equity of 1.85%.
NGL has been the subject of a number of analyst reports. UBS reissued a “buy” rating and set a $17.00 target price (down from $17.50) on shares of NGL Energy Partners in a research note on Friday, March 2nd. ValuEngine raised shares of NGL Energy Partners from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Stifel Nicolaus set a $11.00 target price on shares of NGL Energy Partners and gave the company a “hold” rating in a research note on Wednesday, March 14th. Zacks Investment Research raised shares of NGL Energy Partners from a “sell” rating to a “hold” rating in a research note on Saturday, January 20th. Finally, Credit Suisse Group initiated coverage on shares of NGL Energy Partners in a research note on Thursday, January 4th. They set an “outperform” rating and a $16.00 target price for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $15.80.
In related news, CEO H Michael Krimbill purchased 30,000 shares of the company’s stock in a transaction on Friday, March 16th. The shares were bought at an average cost of $11.22 per share, for a total transaction of $336,600.00. Following the transaction, the chief executive officer now owns 844,417 shares of the company’s stock, valued at $9,474,358.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Several hedge funds have recently added to or reduced their stakes in NGL. BNP Paribas Arbitrage SA raised its position in shares of NGL Energy Partners by 399.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,983 shares of the oil and gas company’s stock worth $104,000 after buying an additional 7,183 shares in the last quarter. Commonwealth Equity Services Inc bought a new stake in shares of NGL Energy Partners during the 3rd quarter worth about $117,000. Yorkville Capital Management LLC bought a new stake in shares of NGL Energy Partners during the 4th quarter worth about $196,000. Edge Advisors LLC bought a new stake in shares of NGL Energy Partners during the 4th quarter worth about $210,000. Finally, Penbrook Management LLC bought a new stake in shares of NGL Energy Partners during the 4th quarter worth about $211,000. Institutional investors own 65.62% of the company’s stock.
NGL Energy Partners stock traded down $0.05 during midday trading on Monday, reaching $10.75. 254,420 shares of the stock traded hands, compared to its average volume of 770,534. The company has a quick ratio of 1.14, a current ratio of 1.69 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $1,307.70, a price-to-earnings ratio of 11.32 and a beta of 1.04. NGL Energy Partners has a fifty-two week low of $8.57 and a fifty-two week high of $22.05.
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NGL Energy Partners Company Profile
NGL Energy Partners LP, through its subsidiaries, engages in the crude oil logistics, water solutions, liquids, retail propane, and refined products and renewables businesses in the United States. 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.
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