What’s in NGL Energy Partners LP (NGL) After Forming Wedge Up Pattern?

December 7, 2017 - By Louis Casey

Investors sentiment decreased to 1.31 in Q2 2017. Its down 0.26, from 1.57 in 2017Q1. It is negative, as 17 investors sold NGL Energy Partners LP shares while 25 reduced holdings. 14 funds opened positions while 41 raised stakes. 81.25 million shares or 3.02% less from 83.78 million shares in 2017Q1 were reported.
Wells Fargo And Communications Mn invested 0% in NGL Energy Partners LP (NYSE:NGL). Group Incorporated One Trading Lp has 4,636 shares for 0% of their portfolio. Toronto Dominion Bancorporation has 4,311 shares. Deutsche Retail Bank Ag reported 250,700 shares. Cetera Advisor Netwr Ltd Liability stated it has 25,785 shares. 73,210 are held by Greenwich Investment Mngmt. Barclays Plc has 0% invested in NGL Energy Partners LP (NYSE:NGL). Solaris Asset Ltd Llc invested in 1,050 shares or 0.01% of the stock. Morgan Stanley holds 2.64M shares. Oppenheimer Asset reported 0.01% in NGL Energy Partners LP (NYSE:NGL). Us Bancorp De invested in 0% or 18,669 shares. Royal Bancorporation Of Canada accumulated 96,540 shares. Bank Of Montreal Can holds 2.12 million shares. Advsrs Asset Mngmt has 17,018 shares. Moreover, Hite Hedge Asset Mngmt Ltd Liability Company has 2.57% invested in NGL Energy Partners LP (NYSE:NGL) for 547,368 shares.

Since June 8, 2017, it had 0 insider purchases, and 1 sale for $1.72 million activity.

The stock of NGL Energy Partners LP (NGL) formed an up wedge with $13.91 target or 5.00 % above today’s $13.25 share price. The 6 months wedge indicates low risk for the $1.60B company. If the $13.91 price target is reached, the company will be worth $79.85M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 6.00% or $0.75 during the last trading session, reaching $13.25. About 995,433 shares traded. NGL Energy Partners LP (NYSE:NGL) has risen 16.78% since December 8, 2016 and is uptrending. It has outperformed by 0.08% the S&P500.

Analysts await NGL Energy Partners LP (NYSE:NGL) to report earnings on February, 6. They expect $0.22 earnings per share, up 414.29 % or $0.29 from last year’s $-0.07 per share. NGL’s profit will be $26.52M for 15.06 P/E if the $0.22 EPS becomes a reality. After $-0.60 actual earnings per share reported by NGL Energy Partners LP for the previous quarter, Wall Street now forecasts -136.67 % EPS growth.

NGL Energy Partners LP (NYSE:NGL) Ratings Coverage

Among 10 analysts covering NGL ENERGY PARTNERS LP (NYSE:NGL), 5 have Buy rating, 1 Sell and 4 Hold. Therefore 50% are positive. NGL ENERGY PARTNERS LP had 44 analyst reports since August 11, 2015 according to SRatingsIntel. The firm has “Mkt Perform” rating given on Thursday, June 8 by FBR Capital. The firm earned “Equal Weight” rating on Wednesday, November 11 by Barclays Capital. RBC Capital Markets maintained the stock with “Buy” rating in Friday, May 26 report. The stock of NGL Energy Partners LP (NYSE:NGL) has “Buy” rating given on Wednesday, November 11 by Wunderlich. The rating was upgraded by FBR Capital on Friday, January 20 to “Outperform”. Barclays Capital maintained the stock with “Equal-Weight” rating in Thursday, February 11 report. The firm has “Hold” rating given on Monday, January 11 by Wunderlich. As per Wednesday, April 26, the company rating was downgraded by FBR Capital. The stock of NGL Energy Partners LP (NYSE:NGL) has “Buy” rating given on Monday, September 11 by RBC Capital Markets. The firm has “Buy” rating given on Monday, June 13 by Wunderlich.

More important recent NGL Energy Partners LP (NYSE:NGL) news were published by: Seekingalpha.com which released: “NGL Energy Partners’ (NGL) CEO Michael Krimbill on Q2 2018 Results – Earnings …” on November 07, 2017, also Businesswire.com published article titled: “NGL Energy Partners LP Announces Agreement to Sell its 50% Interest in Glass …”, Seekingalpha.com published: “NGL Energy Partners: Almost Out Of The Woods” on November 08, 2017. More interesting news about NGL Energy Partners LP (NYSE:NGL) was released by: Businesswire.com and their article: “NGL Energy Partners LP to Attend 2017 RBC Capital Markets Midstream Conference” with publication date: November 14, 2017.

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