NGL Energy Partners LP (NYSE:NGL) finished Wednesday with a subtraction of -$0.23 to close at $4.19, a downside of -5.19 percent. An average of 679,698 shares of common stock have been traded in the last five days. There was a gain of $0.07 in the past week, and it reached a new high 22 times over the past 12 months. The last 20 days have seen an average of 463,390 shares traded, while the 50-day average volume stands at 635,762.
NGL stock has increased by 10.57% in the last month. The company shares reached their 1-month lowest point of $3.76 on 07/20/23. With the stock rallying to its 52-week high on 07/31/23, shares of the company touched a low of $1.00 and a high of $4.62 in 52 weeks. It has reached a new high 26 times so far this year and achieved 246.33% or $2.95 in price. In spite of this, the price is down -9.29% from the 52-week high.
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Valuation Metrics
NGL Energy Partners LP (NGL) stock’s beta is 1.66. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.06, the price-to-book (PB) ratio at 1.21, and the price-to-cash flow ratio at 1.60.
Financial Health
The quick ratio of NGL Energy Partners LP for the three months ended June 29 was 1.00, and the current ratio was 1.20, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 6.28 and a total debt to equity ratio of 6.28 for the quarter ending June 29. NGL Energy Partners LP’s EBITDA margin for the year ending June 29 is 7.90%, while its operating margin for the same period stands at 3.30%. Its gross profit as reported stood at $1.04 billion compared to revenue of $8.69 billion.
Earnings Surprise
For the three-month period that ended June 29, NGL Energy Partners LP had $2.92 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $26.01 million in the quarter, while revenues of -$26.9 million were grew 273.89%. The analyst consensus anticipated NGL Energy Partners LP’s latest quarter earnings to come in at $0.16 per share, but it turned out to be -$0.11, a -168.80% surprise. For the quarter, EBITDA amounted to $104.31 million. Shareholders own equity worth $132.06 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at NGL Energy Partners LP (NGL) price momentum. RSI 9-day as of the close on 09 August was 51.22%, suggesting the stock is Neutral, with historical volatility in this time frame at 54.63%.
As of today, NGL’s price is $4.28 +1.59% or $0.07 from its 5-day moving average. NGL is currently trading +7.09% higher than its 20-day SMA and +48.39% higher than its 100-day SMA. However, the stock’s current price level is +33.17% above the SMA50 and +214.77% above the SMA200.
The stochastic %K and %D were 62.45% and 64.48%, respectively, and the average true range (ATR) was 0.24. With the 14-day stochastic at 45.29% and the average true range at 0.22, the RSI (14) stands at 54.28%. The stock has reached 0.06 on the 9-day MACD Oscillator while the 14-day reading was at 0.14.
Analyst Ratings
UBS upgraded NGL Energy Partners LP (NYSE: NGL) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Sell. The consensus rating for NGL Energy Partners LP (NGL) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell NGL, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 0 others rate it as a “buy”.
What is NGL’s price target for the next 12 months?
Analysts predict a range of price targets between $4.00 and $4.00, with a median target of $4.00. Taking a look at these predictions, the average price target given by analysts for NGL Energy Partners LP (NGL) stock is $4.00.
