Analysts Expect NGL Energy Partners LP (NGL) Will Post Quarterly Sales of $6.13 Billion

Wall Street brokerages expect NGL Energy Partners LP (NYSE:NGL) to report $6.13 billion in sales for the current quarter, according to Zacks. Two analysts have provided estimates for NGL Energy Partners’ earnings, with the lowest sales estimate coming in at $5.77 billion and the highest estimate coming in at $6.50 billion. NGL Energy Partners posted sales of $5.11 billion during the same quarter last year, which suggests a positive year over year growth rate of 20%. The business is expected to report its next quarterly earnings report on Wednesday, May 29th.

On average, analysts expect that NGL Energy Partners will report full-year sales of $24.92 billion for the current year, with estimates ranging from $24.64 billion to $25.37 billion. For the next fiscal year, analysts expect that the firm will report sales of $24.64 billion, with estimates ranging from $21.32 billion to $26.95 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover NGL Energy Partners.

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

NGL has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of NGL Energy Partners from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Wednesday, January 16th. ValuEngine upgraded shares of NGL Energy Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, February 13th. Wells Fargo & Co reiterated a “hold” rating on shares of NGL Energy Partners in a research note on Wednesday, February 13th. Finally, Credit Suisse Group lowered shares of NGL Energy Partners from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $14.00 to $15.00 in a research note on Wednesday, February 20th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $13.67.

Institutional investors have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC bought a new position in NGL Energy Partners in the 1st quarter valued at $272,000. Wells Fargo & Company MN boosted its holdings in NGL Energy Partners by 104.6% in the 1st quarter. Wells Fargo & Company MN now owns 417,488 shares of the oil and gas company’s stock valued at $5,857,000 after purchasing an additional 213,442 shares during the period. Advisor Group Inc. boosted its holdings in NGL Energy Partners by 20.4% in the 1st quarter. Advisor Group Inc. now owns 13,044 shares of the oil and gas company’s stock valued at $183,000 after purchasing an additional 2,211 shares during the period. Biltmore Capital Advisors LLC bought a new position in NGL Energy Partners in the 1st quarter valued at $3,087,000. Finally, Acadian Asset Management LLC bought a new position in NGL Energy Partners in the 1st quarter valued at $2,916,000. Institutional investors and hedge funds own 64.22% of the company’s stock.

Shares of NGL stock traded up $0.39 during trading hours on Friday, hitting $13.82. 420,100 shares of the company were exchanged, compared to its average volume of 1,011,540. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 0.89. NGL Energy Partners has a 52-week low of $8.71 and a 52-week high of $14.83. The firm has a market cap of $1.66 billion, a P/E ratio of -20.32 and a beta of 1.30.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $1.56 dividend on an annualized basis and a yield of 11.29%. NGL Energy Partners’s dividend payout ratio is -229.41%.

NGL Energy Partners Company Profile

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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