Traders Are Bullish NGL Energy Partners LP (NGL) After The Stock Formed Bullish Wedge Up

December 7, 2017 - By Marguerite Chambers

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.
Northern Tru reported 0% stake. Bb&T Lc invested 0.01% in NGL Energy Partners LP (NYSE:NGL). Oppenheimer & Inc owns 14,450 shares. Ngp Mr Mgmt Limited Liability Corp has 2.63% invested in NGL Energy Partners LP (NYSE:NGL) for 176,634 shares. Advsrs Asset Management has invested 0% in NGL Energy Partners LP (NYSE:NGL). Harvest Fund Advsrs Limited has invested 0.96% in NGL Energy Partners LP (NYSE:NGL). Marquette Asset Mgmt has 0.08% invested in NGL Energy Partners LP (NYSE:NGL) for 13,848 shares. Manufacturers Life Insurance The invested 0% in NGL Energy Partners LP (NYSE:NGL). Metropolitan Life reported 0.03% stake. Pnc Fincl Grp Incorporated owns 100,610 shares. 286,550 are held by Bridgecreek Investment Ltd Liability. Cushing Asset Management L P owns 4.66M shares or 2.18% of their US portfolio. Jpmorgan Chase And Com reported 1.75M shares. Hsbc Hldg Plc owns 44,000 shares. Jane Street Ltd Liability Com has invested 0% in NGL Energy Partners LP (NYSE:NGL).

Since June 8, 2017, it had 0 insider buys, 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 $26.52 million 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. On Thursday, February 11 the stock rating was maintained by Barclays Capital with “Equal-Weight”. The rating was maintained by FBR Capital on Thursday, June 8 with “Mkt Perform”. The rating was maintained by FBR Capital with “Outperform” on Wednesday, February 15. RBC Capital Markets maintained NGL Energy Partners LP (NYSE:NGL) on Friday, August 4 with “Buy” rating. On Friday, August 4 the stock rating was maintained by UBS with “Buy”. The rating was downgraded by Bank of America to “Underperform” on Thursday, December 10. The firm earned “Outperform” rating on Wednesday, November 11 by RBC Capital Markets. The stock has “Mkt Perform” rating by Raymond James on Monday, January 4. Stifel Nicolaus maintained the stock with “Buy” rating in Wednesday, November 11 report. The rating was upgraded by Stifel Nicolaus to “Hold” on Tuesday, August 11.

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 to Attend 2017 RBC Capital Markets Midstream Conference”, 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 Announces Agreement to Sell its 50% Interest in Glass …” with publication date: November 09, 2017.

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