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NGL Energy Partners LP (NYSE: NGL) Stocks Rise 147.93% YTD; What Next For It?

NGL Energy Partners LP (NYSE:NGL)’s traded shares stood at 1.19 million during the last session, with the company’s beta value hitting 1.60. At the close of trading, the stock’s price was $3.00, to imply a decrease of -10.45% or -$0.35 in intraday trading. The NGL share’s 52-week high remains $4.03, putting it -34.33% down since that peak but still an impressive 66.67% since price per share fell to its 52-week low of $1.00. The company has a valuation of $424.89M, with an average of 1.29 million shares in intraday trading volume over the past 10 days and average of 1.06 million shares over the past 3 months.

Analysts have given a consensus recommendation of an Underweight for NGL Energy Partners LP (NGL), translating to a mean rating of 3.30. Of 3 analyst(s) looking at the stock, 1 analyst(s) give NGL a Sell rating. 0 of those analysts rate the stock as Overweight while 2 advise Hold as 0 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.1.

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NGL Energy Partners LP (NYSE:NGL) trade information

After registering a -10.45% downside in the last session, NGL Energy Partners LP (NGL) has traded red over the past five days. The stock hit a weekly high of 3.95 this Wednesday, 03/15/23, dropping -10.45% in its intraday price action. The 5-day price performance for the stock is -20.42%, and 11.94% over 30 days. With these gigs, the year-to-date price performance is 147.93%. Short interest in NGL Energy Partners LP (NYSE:NGL) saw shorts transact 0.48 million shares and set a 0.62 days time to cover.

Analysts on Wall Street suggest a consensus price target of $2.50, implying a decrease of -20.0% to the stock’s current value. The extremes give us $2.00 and $3.00 for target low and target high price respectively. As such, NGL has been trading 0.0% off suggested target high and 33.33% from its likely low.

NGL Energy Partners LP (NGL) estimates and forecasts

Looking at statistics comparing NGL Energy Partners LP share performance against respective industry, we note that the company has outperformed competitors. NGL Energy Partners LP (NGL) shares are 96.08% up over the last 6 months, with its year-to-date growth rate higher than industry average at 113.54% against -14.00%. Revenue is forecast to grow 123.30% this quarter before falling -275.00% for the next one. The rating firms project that company’s revenue will grow 17.50% compared to the previous financial year.

Revenue forecast for the current quarter as set by 1 analysts is $2.53 billion. Meanwhile, for the quarter ending Jun 2023, a total of 1 analyst(s) estimate revenue growth to $2.37 billion.Earnings reports from the last fiscal year show that sales brought in $2.53 billion and $2.5 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -0.30% before dropping -5.00% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -43.90% for the past 5-year period. While 2023 is set for a 60.80% return in earnings, projections for the next 5 years are at 3.00% annually.

NGL Dividends

NGL Energy Partners LP has its next earnings report out between June 05 and June 09. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. NGL Energy Partners LP has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

NGL Energy Partners LP (NYSE:NGL)’s Major holders

NGL Energy Partners LP insiders hold 6.93% of total outstanding shares, with institutional holders owning 26.04% of the shares at 27.98% float percentage. In total, 26.04% institutions holds shares in the company, led by Invesco Ltd. As of Sep 29, 2022, the company held over 19.72 million shares (or 15.09% of shares), all amounting to roughly $25.63 million.

The next major institution holding the largest number of shares is Prescott Group Capital Management, L.L.C. with 3.72 million shares, or about 2.85% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $4.84 million.

We also have Invesco Steelpath MLP Income Fund and Invesco Steelpath MLP Select 40 Fund as the top two Mutual Funds with the largest holdings of the NGL Energy Partners LP (NGL) shares. Going by data provided on Nov 29, 2022, Invesco Steelpath MLP Income Fund holds roughly 12.41 million shares. This is just over 9.50% of the total shares, with a market valuation of $14.52 million. Data from the same date shows that the other fund manager holds a little less at 7.3 million, or 5.59% of the shares, all valued at about 8.55 million.

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