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Could NGL Energy Partners LP (NGL) Gain Strenght After Forming Wedge Up?

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 dropped, 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.
Bancshares Of America De holds 2.22M shares or 0.01% of its portfolio. Citadel Limited Co has invested 0% in NGL Energy Partners LP (NYSE:NGL). Susquehanna Grp Ltd Liability Partnership holds 0% of its portfolio in NGL Energy Partners LP (NYSE:NGL) for 18,177 shares. Ngp Mr Mngmt Ltd Liability holds 2.63% in NGL Energy Partners LP (NYSE:NGL) or 176,634 shares. Salient Advisors Ltd Liability Company has invested 1.83% in NGL Energy Partners LP (NYSE:NGL). Pnc Svcs Grp Inc Incorporated Inc holds 100,610 shares. Invesco Limited reported 96,513 shares stake. Oppenheimer And stated it has 0.01% of its portfolio in NGL Energy Partners LP (NYSE:NGL). Spirit Of America Mgmt holds 171,968 shares or 0.26% of its portfolio. Tph Asset Management reported 1.50 million shares. 250,700 are held by Deutsche Financial Bank Ag. Sumitomo Mitsui Hldgs Inc reported 0% of its portfolio in NGL Energy Partners LP (NYSE:NGL). Advisory Inc, a Illinois-based fund reported 2.18M shares. Baldwin Brothers Ma owns 6,250 shares for 0.01% of their portfolio. Alliancebernstein Ltd Partnership stated it has 0% in NGL Energy Partners LP (NYSE:NGL).

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. Stifel Nicolaus upgraded NGL Energy Partners LP (NYSE:NGL) on Tuesday, August 11 to “Hold” rating. On Monday, January 4 the stock rating was downgraded by Raymond James to “Mkt Perform”. Bank of America downgraded the shares of NGL in report on Thursday, December 10 to “Underperform” rating. The stock of NGL Energy Partners LP (NYSE:NGL) has “Buy” rating given on Friday, June 3 by Stifel Nicolaus. The company was maintained on Wednesday, November 11 by Wunderlich. The company was maintained on Monday, July 17 by Stifel Nicolaus. The stock of NGL Energy Partners LP (NYSE:NGL) has “Hold” rating given on Thursday, February 11 by Wunderlich. The firm earned “Buy” rating on Wednesday, November 11 by Stifel Nicolaus. The firm has “Hold” rating by Stifel Nicolaus given on Wednesday, August 16. The company was maintained on Thursday, September 21 by Stifel Nicolaus.

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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