NGL Energy Partners LP (NYSE:NGL) Expected to Post Earnings of -$0.07 Per Share

Equities research analysts expect NGL Energy Partners LP (NYSE:NGL) to announce earnings of ($0.07) per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for NGL Energy Partners’ earnings. The lowest EPS estimate is ($0.16) and the highest is $0.04. NGL Energy Partners posted earnings per share of ($0.40) in the same quarter last year, which indicates a positive year-over-year growth rate of 82.5%. The business is expected to announce its next quarterly earnings report before the market opens on Thursday, August 8th.

On average, analysts expect that NGL Energy Partners will report full-year earnings of $0.79 per share for the current year, with EPS estimates ranging from $0.39 to $1.18. For the next financial year, analysts forecast that the business will report earnings of $1.11 per share, with EPS estimates ranging from $0.44 to $1.77. Zacks’ earnings per share averages are an average based on a survey of research firms that follow NGL Energy Partners.

NGL Energy Partners (NYSE:NGL) last issued its earnings results on Thursday, May 30th. The oil and gas company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.05). The firm had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.71 billion. NGL Energy Partners had a net margin of 1.31% and a return on equity of 2.37%. NGL Energy Partners’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.28) earnings per share.

Several brokerages have recently commented on NGL. Raymond James set a $18.00 target price on shares of NGL Energy Partners and gave the company a “buy” rating in a research report on Friday, May 24th. Piper Jaffray Companies began coverage on shares of NGL Energy Partners in a research report on Wednesday, July 17th. They issued a “neutral” rating and a $17.00 target price for the company. Zacks Investment Research cut shares of NGL Energy Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, ValuEngine cut shares of NGL Energy Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $15.25.

In other NGL Energy Partners news, Director John T. Raymond sold 176,634 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $14.88, for a total transaction of $2,628,313.92. Following the sale, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $744,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO H Michael Krimbill bought 25,000 shares of NGL Energy Partners stock in a transaction on Wednesday, June 12th. The shares were acquired at an average cost of $14.53 per share, for a total transaction of $363,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,141,417 shares in the company, valued at $16,584,789.01. The disclosure for this purchase can be found here.

A number of institutional investors and hedge funds have recently bought and sold shares of NGL. OppenheimerFunds Inc. raised its position in NGL Energy Partners by 12.5% in the 1st quarter. OppenheimerFunds Inc. now owns 20,250,603 shares of the oil and gas company’s stock worth $284,116,000 after buying an additional 2,257,816 shares during the last quarter. Hartz Capital Inc. purchased a new stake in shares of NGL Energy Partners in the 1st quarter valued at $7,988,000. Bank of Montreal Can raised its holdings in shares of NGL Energy Partners by 36.0% in the 1st quarter. Bank of Montreal Can now owns 2,030,600 shares of the oil and gas company’s stock valued at $28,489,000 after buying an additional 537,710 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of NGL Energy Partners by 14.2% in the 1st quarter. JPMorgan Chase & Co. now owns 3,108,236 shares of the oil and gas company’s stock valued at $43,609,000 after buying an additional 386,770 shares during the period. Finally, Biltmore Capital Advisors LLC purchased a new stake in shares of NGL Energy Partners in the 1st quarter valued at $3,087,000. 60.43% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:NGL traded down $0.44 during midday trading on Thursday, hitting $13.98. The stock had a trading volume of 687,928 shares, compared to its average volume of 876,067. The stock has a 50-day moving average price of $14.89. The company has a market capitalization of $1.78 billion, a P/E ratio of -11.10, a P/E/G ratio of 9.36 and a beta of 1.06. The company has a quick ratio of 1.08, a current ratio of 1.45 and a debt-to-equity ratio of 1.04. NGL Energy Partners has a fifty-two week low of $8.71 and a fifty-two week high of $15.71.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 11.16%. The ex-dividend date is Tuesday, August 6th. NGL Energy Partners’s dividend payout ratio (DPR) is presently -123.81%.

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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Earnings History and Estimates for NGL Energy Partners (NYSE:NGL)

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