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

December 7, 2017 - By Darrin Black

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.
Sumitomo Mitsui Trust Hldg stated it has 0% of its portfolio in NGL Energy Partners LP (NYSE:NGL). 766,560 were reported by Citigroup. Glenmede Co Na accumulated 14,630 shares. Duff And Phelps Investment Co has invested 0.31% in NGL Energy Partners LP (NYSE:NGL). Hap Trading Limited Liability holds 15,779 shares or 0.01% of its portfolio. Eagle Global Llc invested in 3.15M shares or 1.26% of the stock. Rafferty Asset Ltd Liability Corp invested 0.08% in NGL Energy Partners LP (NYSE:NGL). Invesco Ltd reported 96,513 shares. Moreover, Solaris Asset Mgmt Lc has 0.01% invested in NGL Energy Partners LP (NYSE:NGL) for 1,050 shares. New York-based First Eagle Mngmt Limited Liability Co has invested 0.07% in NGL Energy Partners LP (NYSE:NGL). Harvest Fund Advsrs Limited Liability Corp, Pennsylvania-based fund reported 6.64M shares. Salient Cap Advsrs Limited Com reported 6.65 million shares. Benjamin F Edwards & Company holds 0% in NGL Energy Partners LP (NYSE:NGL) or 2,100 shares. Wells Fargo And Com Mn owns 0% invested in NGL Energy Partners LP (NYSE:NGL) for 239,687 shares. 105,358 were accumulated by Janney Montgomery Scott Ltd Limited Liability Company.

Since June 8, 2017, it had 0 insider buys, and 1 insider 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 EPS, 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 EPS 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. Stifel Nicolaus maintained it with “Hold” rating and $12.0 target in Tuesday, November 21 report. The stock of NGL Energy Partners LP (NYSE:NGL) has “Equal Weight” rating given on Wednesday, November 11 by Barclays Capital. The stock of NGL Energy Partners LP (NYSE:NGL) earned “Equal-Weight” rating by Barclays Capital on Thursday, February 11. As per Friday, January 20, the company rating was upgraded by FBR Capital. On Thursday, January 12 the stock rating was upgraded by Raymond James to “Outperform”. The firm has “Sell” rating by Goldman Sachs given on Friday, March 11. The rating was downgraded by FBR Capital to “Market Perform” on Wednesday, April 26. The rating was maintained by Stifel Nicolaus with “Hold” on Thursday, September 21. The firm has “Hold” rating given on Thursday, February 11 by Wunderlich. The stock has “Hold” rating by Stifel Nicolaus on Wednesday, August 16.

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 Seekingalpha.com published article titled: “NGL Energy Partners: Almost Out Of The Woods”, Businesswire.com published: “NGL Energy Partners LP Announces Agreement to Sell its 50% Interest in Glass …” on November 09, 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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