Brokerages Anticipate NGL Energy Partners LP (NGL) Will Announce Quarterly Sales of $4.83 Billion

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Equities analysts forecast that NGL Energy Partners LP (NYSE:NGL) will announce sales of $4.83 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for NGL Energy Partners’ earnings, with the highest sales estimate coming in at $5.22 billion and the lowest estimate coming in at $4.44 billion. NGL Energy Partners reported sales of $3.92 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 23.2%. The firm is scheduled to announce its next quarterly earnings report on Monday, November 5th.

According to Zacks, analysts expect that NGL Energy Partners will report full-year sales of $21.68 billion for the current fiscal year, with estimates ranging from $20.92 billion to $22.51 billion. For the next financial year, analysts expect that the company will post sales of $21.06 billion, with estimates ranging from $19.99 billion to $22.19 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow NGL Energy Partners.

NGL Energy Partners (NYSE:NGL) last announced its quarterly earnings results on Tuesday, August 7th. The oil and gas company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.93). NGL Energy Partners had a negative net margin of 1.01% and a negative return on equity of 0.54%. The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $4.53 billion.

Several brokerages recently issued reports on NGL. Credit Suisse Group began coverage on shares of NGL Energy Partners in a report on Thursday. They set an “outperform” rating and a $15.00 price target for the company. ValuEngine raised shares of NGL Energy Partners from a “sell” rating to a “hold” rating in a report on Thursday. Bank of America cut their price target on shares of NGL Energy Partners from $15.00 to $13.00 and set a “buy” rating for the company in a report on Monday, October 1st. Wells Fargo & Co cut their price target on shares of NGL Energy Partners from $14.00 to $11.00 and set a “market perform” rating for the company in a report on Monday, September 24th. Finally, Stifel Nicolaus lifted their price target on shares of NGL Energy Partners from $12.00 to $13.00 and gave the company a “hold” rating in a report on Tuesday, August 14th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $14.00.

In related news, Director John T. Raymond acquired 50,000 shares of the stock in a transaction on Friday, September 14th. The stock was purchased at an average price of $11.04 per share, for a total transaction of $552,000.00. Following the transaction, the director now owns 50,000 shares of the company’s stock, valued at approximately $552,000. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO H Michael Krimbill acquired 20,000 shares of the stock in a transaction on Friday, August 31st. The stock was bought at an average price of $11.65 per share, with a total value of $233,000.00. The disclosure for this purchase can be found here.

Institutional investors and hedge funds have recently bought and sold shares of the business. Kayne Anderson Capital Advisors LP acquired a new stake in shares of NGL Energy Partners during the 2nd quarter worth approximately $125,000. Hilltop Holdings Inc. acquired a new stake in shares of NGL Energy Partners during the 1st quarter worth approximately $121,000. Russell Investments Group Ltd. acquired a new stake in shares of NGL Energy Partners during the 2nd quarter worth approximately $166,000. Gibraltar Capital Management Inc. acquired a new stake in shares of NGL Energy Partners during the 3rd quarter worth approximately $201,000. Finally, Centaurus Financial Inc. acquired a new stake in shares of NGL Energy Partners during the 2nd quarter worth approximately $246,000. Hedge funds and other institutional investors own 63.34% of the company’s stock.

NGL stock traded up $0.11 during trading on Monday, hitting $11.48. 784,913 shares of the stock traded hands, compared to its average volume of 809,115. NGL Energy Partners has a one year low of $10.00 and a one year high of $17.65. The company has a market capitalization of $1.42 billion, a P/E ratio of -16.88 and a beta of 1.16. The company has a quick ratio of 1.59, a current ratio of 2.14 and a debt-to-equity ratio of 1.63.

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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