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NGL Energy Partners (NYSE:NGL) Stock, Option Chain

NGL Energy Partners

NGL Energy Partners LP is a USA-based firm that owns and operates a vertically integrated energy business. The company's operating segments include Crude Oil Logistics, Water Solutions, and Liquids Logistics. It operates crude oil Logistics, owns pipeline injection stations, and offers services for the treatment and disposal of wastewater generated from crude oil and natural gas production, and for the disposal of solids, such as tank bottoms and drilling fluids. The firm also supplies natural gas liquids to retailers, wholesalers, refiners, and petrochemical plants and sells propane and distillates.

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In recent quarters, fuel margins for companies in the Zacks Oil and Gas - Refining &amp; Marketing MLP industry have generally declined, falling well below the exceptional profitability achieved in 2022. While robust consumption and light product inventories should continue to support the sector, most operators see a subdued margin environment for the rest of 2024.

3 Refining &amp; Marketing MLP Stocks That Are Worth a Look

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NGL ENERGY PARTNERS LP Common Units representing Limited Partner Interests

NGL Energy Partners LP

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NGL ENERGY PARTNERS LP 9.00% Class B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units representing limited partnership interests

NGL ENERGY PARTNERS LP 9.625% Class C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units representing limited partner interests

NGL Energy Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGL#NYSE">NGL</a>) reported quarterly sales of $1.35 billion which missed the analyst consensus estimate of $1.56 billion by 13.44 percent. This is a 26.56 percent decrease over sales of $1.84 billion the same period last year.

Earnings Misses

NGL Energy Partners Q2 Sales $1.35B Miss $1.56B Estimate

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Earnings Scheduled For November 12, 2024

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NGL Energy Partners shares are trading higher. The company reported Q1 financial results.

NGL Energy Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGL#NYSE">NGL</a>) reported quarterly losses of $(0.14) per share. The company reported quarterly sales of $1.39 billion which missed the analyst consensus estimate of $1.44 billion by 3.37 percent. This is a 14.17 percent decrease over sales of $1.62 billion the same period last year.

NGL Energy Partners Q1 2025 GAAP EPS $(0.14)

Guidance

NGL Energy Reaffirms FY25 Water Solutions Adj. EBITDA $550M-$560M

NGL Energy Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGL#NYSE">NGL</a>) reported quarterly sales of $1.387 billion which missed the analyst consensus estimate of $1.435 billion by 3.37 percent. This is a 14.17 percent decrease over sales of $1.616 billion the same period last year.

NGL Energy Partners Q1 Sales $1.387B Miss $1.435B Estimate

NGL Energy Partners LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGL#NYSE">NGL</a>) announced today that the Board of Directors of its general partner declared a distribution for the quarter ending June 30, 2024 to be paid to the holders of the Partnership&#39;s&nbsp;12.511%&nbsp;Class B Floating Rate Cumulative Redeemable Perpetual Preferred Units (&quot;Class B Preferred Units&quot;) and the&nbsp;12.682%&nbsp;Class C Floating Rate Cumulative Redeemable Perpetual Preferred Units (&quot;Class C Preferred Units&quot;) in accordance with the terms outlined in NGL&#39;s partnership agreement. Each of the Class B Preferred Units will receive a quarterly distribution of&nbsp;$0.7820&nbsp;and each of the Class C Preferred Units will receive a quarterly distribution of&nbsp;$0.7926&nbsp;per unit on July 15, 2024, to holders of record on July 1, 2024.

NGL Energy Reveals Quarterly Cash Distribution For Class B, Class C, And Class D Preferred Units; Each Of Class B Preferred Units Will Receive $0.7820 And Each Of Class C Preferred Units Will Receive $0.7926 Per Unit On July 15

In recent quarters, fuel margins for companies in the Zacks Oil and Gas - Refining &amp; Marketing MLP industry have generally declined, falling well below the exceptional profitability achieved in 2022. While robust consumption and light product inventories should continue to support the sector, most operators see a subdued margin environment for the rest of 2024. Additionally, rising costs due to persistent inflation are eroding profits. Nevertheless, the defensive nature of these stocks and their fee-based business models, along with features to mitigate inflationary impacts, still offer some protection in an unpredictable market. For those interested in the space, we have earmarked three stocks &mdash; Targa Resources (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trgp#NYSE">TRGP</a>), Sunoco LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sun#NYSE">SUN</a>) and NGL Energy Partners LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ngl#NYSE">NGL</a>).
Industry Overview
Master limited partnerships (or MLPs) differ from regular stocks since interests in them are referred to as units, and unitholders (not shareholders) are partners in the business. Importantly, these low-risk hybrid entities bring together the tax benefits of a limited partnership with the liquidity of publicly traded securities that earn a stable income. The assets owned by these partnerships are typically oil and natural gas pipelines and storage/infrastructure facilities. The Zacks Oil and Gas - Refining &amp; Marketing MLP industry is a sub-sector of this business model. These firms operate refined product terminals, storage facilities and transportation services. They are involved in selling refined petroleum products (including heating oil, gasoline, residual oil, jet fuel, etc.) and a plethora of non-energy materials (like asphalt, road salt, clay and gypsum).
3 Trends Defining Oil and Gas - Refining &amp; Marketing MLP Industry&#39;s Future
Moderation in Refining Margins: While refining margins remain robust, they have notably softened compared to the exceptional levels of 2022. Crack spreads, which reflect the difference between refined product and crude oil prices, have also decreased. Elevated inventories and demand uncertainties could further dent profitability. Despite price controls and sanctions, Russia&#39;s redirection of oil exports to India and China has impeded the expected tightening of product supplies. This trend suggests a recent downturn in global refinery margins, impacting the earnings of downstream firms. 
Sustainable Cash Flows: In the current volatile oil market, marked by demand fluctuations and geopolitical tensions, investors may find master limited partnerships (MLPs) a prudent choice. MLPs provide attractive returns with significantly reduced risk exposure. Their assets, such as oil and natural gas pipelines and storage facilities, generate stable fee-based revenues through long-term contracts, thereby minimizing direct commodity price risks. These contracts ensure consistent cash flow over the long run, regardless of market cycles. Additionally, many agreements operate on a take-or-pay basis, ensuring that MLPs receive payment regardless of commodity transportation volumes. 
Supply-Chain Disruptions: Despite the relatively bullish energy landscape and improved demand environment, the industry has not been immune to supply-chain disruptions and cost inflation. Macro issues like higher transportation expenses, driver scarcity and labor shortages have limited MLPs&#39; (or the energy infrastructure providers, also called the midstream group) ability to ship packaged volumes to their customers. What&#39;s worse is that these headwinds across the system and the subsequent hit to profitability (due to difficulty in passing through the increased costs to clients) are expected to continue in the near future.
Zacks Industry Rank Indicates Bearish Outlook
The Zacks Oil and Gas &ndash; Refining &amp; Marketing MLP is a seven-stock group within the broader Zacks Oil &ndash; Energy sector. The industry currently carries a Zacks Industry Rank #227, which places it in the bottom 9% of around 250 Zacks industries. 
The group&#39;s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates fairly dull near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1. 
The industry&#39;s position in the bottom 50% of the Zacks-ranked industries is a result of a negative earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are becoming pessimistic about this group&#39;s earnings growth potential.&nbsp; While the industry&#39;s earnings estimate for 2024 has gone down 3.1% in the past year, the same for 2025 has fallen 11.7% over the said timeframe. 
Despite the dim near-term prospects of the industry, we will present a few stocks that you may want to consider for your portfolio. But it&#39;s worth taking a look at the industry&#39;s shareholder returns and current valuation first.
Industry Outperforms Sector &amp; S&amp;P 500
The Zacks Oil and Gas &ndash; Refining &amp; Marketing MLP industry has fared better than the broader Zacks Oil - Energy Sector as well as the Zacks S&amp;P 500 composite over the past year. 
The industry has gained 56.8% over this period compared with the broader sector&#39;s increase of 12.9%. Meanwhile, the S&amp;P 500 has gone up 19%.
<h3>One-Year Price Performance</h3>
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/pp_06142024.jpg" style="height:131px; width:620px" />
Industry&#39;s Current Valuation
Since midstream-focused oil and gas partnerships use fixed-rate debt for most of their borrowings, it makes sense to value them based on the EV/EBITDA (enterprise value/ earnings before interest tax depreciation and amortization) ratio. This is because the valuation metric takes into account not just equity but also the level of debt. For capital-intensive companies, EV/EBITDA is a better valuation metric because it is not influenced by changing capital structures and ignores the effect of non-cash expenses. 
On the basis of the trailing 12-month enterprise value-to-EBITDA (EV/EBITDA) ratio, the industry is currently trading at 19.38X, lower than the S&amp;P 500&#39;s 14.12X. It is, however, well above the sector&#39;s trailing 12-month EV/EBITDA of 2.97X. 
Over the past five years, the industry has traded as high as 14.42X and as low as 5.76X, with a median of 8.96X, as the chart below shows.
<h3>Trailing 12-Month Enterprise Value-to-EBITDA (EV/EBITDA) Ratio (Past Five Years)</h3>
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/val snp_06142024.jpg" style="height:97px; width:620px" />
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/val sec_06142024.jpg" style="height:94px; width:620px" />
3 Stocks in Focus
Targa Resources is a leading provider of integrated midstream services in North America. The Houston, TX-based operator primarily derives its revenues from gathering, compressing, treating, processing and selling natural gas. Targa Resources, with a Zacks Rank of 3, also provides services associated with natural gas liquids (&quot;NGL&quot;), including those to liquefied petroleum gas (&quot;LPG&quot;) exporters, and crude oil. 
The Zacks Consensus Estimate for Houston, TX-based Targa Resources indicates 44% earnings per share growth over 2023. The firm, which pays out 75 cents quarterly dividend to yield nearly 6%, has a VGM Score of B. Valued at around $26.9 billion, this Zacks Rank #3 (Hold) stock has surged 71.3% in a year.
<h3>Price and Consensus: TRGP</h3>
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/trgp_06142024(1).jpg" style="height:182px; width:620px" /> 
Sunoco LP participates in the transportation and supply phase of the U.S. petroleum market across a number of states. It also focuses on motor fuel distribution to convenience stores, independent dealers and commercial customers. SUN pays out 87.56 cents quarterly distribution ($3.5024 per unit annually), which gives it a 6.8% yield at the current unit price. 
Over the last 60 days, the Zacks Consensus Estimate for Sunoco&#39;s 2024 earnings has moved up 24.4%. The 2024 Zacks Consensus Estimate for SUN indicates 99.7% year-over-year earnings per share growth. Valued at around $5.3 billion, this Zacks #3 Ranked partnership has gained 22.3% in a year.
<h3>Price and Consensus: SUN</h3>
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/sun_06142024.jpg" style="height:180px; width:620px" /> 
NGL Energy Partners LP is an MLP that owns water disposal wells, the Grand Mesa oil pipeline and a wholesale propane/butane business. In particular, NGL Energy Partners&#39; one-of-a-kind water business is supported by long-term, fixed-fee contracts. The highly differentiated assets make it difficult to replicate the partnership&#39;s infrastructure system and give it a competitive advantage. 
The Zacks Consensus Estimate for NGL Energy Partners fiscal 2025 indicates 158.8% earnings per unit growth over fiscal 2024. The #3 Ranked midstream operator enjoys&nbsp; Value, Growth and Momentum scores of A each, helping it round out with a VGM Score of A. NGL Energy Partners&#39; current market cap is roughly $710.3 million, while the stock has added 22.3% in a year.
<h3>Price and Consensus: NGL</h3>
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/ngl_06142024.jpg" style="height:177px; width:620px" />
<a href="https://www.zacks.com/commentary/2288276/3-refining-marketing-mlp-stocks-that-are-worth-a-look?cid=CS-BENZ-FT-industry_outlook-2288276">To read this article on Zacks.com click here.</a>

3 Refining & Marketing MLP Stocks That Are Worth a Look

NGL Energy Partners shares are trading lower after the company reported worse-than-expected Q4 financial results.

NGL Energy Partners Expects FY25 Consolidated Adjusted EBITDA Of $665M

NGL Energy Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGL#NYSE">NGL</a>) reported quarterly losses of $(2.05) per share which missed the analyst consensus estimate of $0.19 by 1178.95 percent. This is a 301.96 percent decrease over losses of $(0.51) per share from the same period last year. The company reported quarterly sales of $1.629 billion which missed the analyst consensus estimate of $1.970 billion by 17.31 percent. This is a 20.46 percent decrease over sales of $2.048 billion the same period last year.

NGL Energy Partners Q4 2024 GAAP EPS $(2.05) Misses $0.19 Estimate, Sales $1.629B Miss $1.970B Estimate

Buybacks

NGL Energy Partners Announces $50M Common Unit Repurchase Program

NGL Energy Partners LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGL#NYSE">NGL</a>) ("NGL," or the "Partnership") announced today that it has completed the sale of its North and South Ranches. These two New Mexico ranches have combined acreage of approximately 122,250 acres, in the core of the Delaware.
New Mexico Ranches Highlights:
<ul>
<li>Approximately $70.0 million in proceeds, including working capital</li>
<li>Including asset sales in FY24, we have exceeded the $150 million asset sale guidance</li>
</ul>
"NGL remains focused on our commitment to deliver reliable produced water management for our customers while remaining focused on the environment and the sustainability of our operations," commented Doug White, EVP of NGL Water Solutions. "Today's announcement highlights our focus on portfolio optimization, especially as we look for additional opportunities to enhance the portfolio with opportunities like the recently announced LEX II Project."
NGL owns and operates the largest integrated network of large diameter wastewater pipelines, disposal wells and produced water handling systems in the Delaware Basin. NGL's Water Solutions segment operates in several of the most prolific crude oil and natural gas producing basins, including the Delaware, Eagle Ford and DJ Basins.

Asset Sales

NGL Energy Partners LP Announces Sale Of The New Mexico Ranches For ~$70M In Proceeds, Including Working Capital; Including Asset Sales In FY24, We Have Exceeded The $150M Asset Sale Guidance

NGL Energy Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGL#NYSE">NGL</a>) reported its Q3 earnings results on Thursday, February 8, 2024 at 04:33 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
NGL Energy Partners beat estimated earnings by 166.67%, reporting an EPS of $0.08 versus an estimate of $0.03.
Revenue was down $269.00 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company missed on EPS by $0.04 which was followed by a 5.05% drop in the share price the next day.
Here's a look at NGL Energy Partners's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.01</td>
<td>0.16</td>
<td>0.15</td>
<td>0.12</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-0.05</td>
<td>-0.11</td>
<td>0.10</td>
<td>0.19</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>2.09B</td>
<td>2.11B</td>
<td>2.32B</td>
<td>2.63B</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>1.84B</td>
<td>1.62B</td>
<td>2.05B</td>
<td>2.14B</td>
</tr>
</tbody>
</table>

To track all earnings releases for NGL Energy Partners <a href="https://www.benzinga.com/quote/NGL/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

NGL Energy Partners: Q3 Earnings Insights

NGL Energy Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGL#NYSE">NGL</a>) reported quarterly earnings of $0.08 per share. This is a 57.89 percent decrease over earnings of $0.19 per share from the same period last year. The company reported quarterly sales of $1.87 billion which missed the analyst consensus estimate of $2.05 billion by 8.63 percent. This is a 12.58 percent decrease over sales of $2.14 billion the same period last year.

NGL Energy Partners Q3 2024 GAAP EPS $0.08 Down From $0.19 YoY, Sales $1.87B Miss $2.05B Estimate

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