NGL Energy Partners LP [NYSE: NGL] price plunged by -19.81 percent to reach at -$0.62. The company report on June 4, 2021 that CORRECTING and REPLACING NGL Energy Partners LP Announces Fourth Quarter and Full Year Fiscal 2021 Financial Results.
Seventh paragraph (under Crude Oil Logistics), second sentence should read: During the three months ended March 31, 2021, financial volumes on the Grand Mesa Pipeline averaged approximately 66,000 barrels per day compared to 131,000 barrels per day during the prior year period, a decrease primarily due to the bankruptcy court’s approved rejection of the Extraction transportation agreement. Winter storm Uri in February 2021 reduced not only volumes at the lease in all areas of our operations, including the DJ Basin, but also refinery demand due to outages on the United States Gulf Coast. (instead of During the three months ended March 31, 2021, financial volumes on the Grand Mesa Pipeline averaged approximately 131,000 barrels per day during the prior year period, a decrease primarily due to the bankruptcy court’s approved rejection of the Extraction transportation agreement. Winter storm Uri in February 2021 reduced not only volumes at the lease in all areas of our operations, including the DJ Basin, but also refinery demand due to outages on the United States Gulf Coast.).
The updated release reads:.
A sum of 6080457 shares traded at recent session while its average daily volume was at 2.33M shares. NGL Energy Partners LP shares reached a high of $2.68 and dropped to a low of $2.34 until finishing in the latest session at $2.51.
The one-year NGL stock forecast points to a potential upside of 3.46. The average equity rating for NGL stock is currently 3.30, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on NGL Energy Partners LP [NGL]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NGL shares is $2.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NGL stock is a recommendation set at 3.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
UBS have made an estimate for NGL Energy Partners LP shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 18, 2021. The new note on the price target was released on October 16, 2020, representing the official price target for NGL Energy Partners LP stock. Previously, the target price had yet another raise to $4, while Wells Fargo analysts kept a Underweight rating on NGL stock. On April 02, 2020, analysts decreased their price target for NGL shares from 5 to 2.
The Average True Range (ATR) for NGL Energy Partners LP is set at 0.19, with the Price to Sales ratio for NGL stock in the period of the last 12 months amounting to 0.08. The Price to Book ratio for the last quarter was 0.56, with the Price to Cash per share for the same quarter was set at 0.03.
NGL Stock Performance Analysis:
NGL Energy Partners LP [NGL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.72. With this latest performance, NGL shares gained by 17.84% in over the last four-week period, additionally plugging by 2.45% over the last 6 months – not to mention a drop of -60.53% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NGL stock in for the last two-week period is set at 54.57, with the RSI for the last a single of trading hit 52.59, and the three-weeks RSI is set at 54.69 for NGL Energy Partners LP [NGL]. The present Moving Average for the last 50 days of trading for this stock 2.20, while it was recorded at 2.66 for the last single week of trading, and 2.81 for the last 200 days.
Insight into NGL Energy Partners LP Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and NGL Energy Partners LP [NGL] shares currently have an operating margin of +3.02 and a Gross Margin at +9.20. NGL Energy Partners LP’s Net Margin is presently recorded at -12.19.
Return on Equity for this stock declined to -34.14, with Return on Assets sitting at -10.24.
NGL Energy Partners LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.10.
NGL Stock EPS
With the latest financial reports released by the company, NGL Energy Partners LP posted -0.44/share EPS, while the average EPS was predicted by analysts to be reported at -0.11/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -300.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NGL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for NGL Energy Partners LP go to 3.00%.
NGL Energy Partners LP [NGL] Insider Position Details
There are presently around $122 million, or 38.20% of NGL stock, in the hands of institutional investors. The top three institutional holders of NGL stocks are: INVESCO LTD. with ownership of 19,717,009, which is approximately -1.035% of the company’s market cap and around 2.20% of the total institutional ownership; MORGAN STANLEY, holding 6,492,775 shares of the stock with an approximate value of $16.3 million in NGL stocks shares; and JPMORGAN CHASE & CO, currently with $8.62 million in NGL stock with ownership of nearly -9.434% of the company’s market capitalization.
Positions in NGL Energy Partners LP stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 38 institutional holders increased their position in NGL Energy Partners LP [NYSE:NGL] by around 15,079,200 shares. Additionally, 46 investors decreased positions by around 18,540,816 shares, while 31 investors held positions by with 15,077,901 shares. The mentioned changes placed institutional holdings at 48,697,917 shares, according to the latest SEC report filing. NGL stock had 22 new institutional investments in for a total of 3,928,634 shares, while 22 institutional investors sold positions of 2,130,504 shares during the same period.