NGL Energy Partners LP (NGL) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of NGL Energy Partners LP stock $4.15, price $14.95, that is 72.2% below the price, quality 41 out of 100. Rating: strongly overvalued. Calculated from audited financials with 12 of our 26 valuation models and 37 quality factors, updated daily.
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NGL Energy Partners LP
NGL · USOur calculation puts a fair price 72% below what the stock costs today.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range $1.04 – $18.97 · fair‑value band $2.18 – $12.52 · the $14.95 price screens above the $4.15 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 6, 2026.
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Company profile
NGL Energy Partners LP engages in the transportation, storage, blending, and marketing of crude oil, natural gas liquids, refined products/renewables, and water solutions in the United States. It operates through three segments: Water Solutions, Crude Oil Logistics, and Liquids Logistics.
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The Water Solutions segment transports, treats, recycles, and disposes produced and flowback water generated from crude oil and natural gas production; aggregates and sells recovered crude oil; disposes solids, such as tank bottoms, drilling fluid, and muds, as well as performs truck and frac tank washouts; and sells produced water for reuse and recycle, and brackish non-potable water.
The Crude Oil Logistics segment purchases crude oil from producers and marketers and transports it to refineries for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs; and provides storage, terminaling, and transportation services through pipelines and storage tanks.
The Liquids Logistics segment offers natural gas liquids to commercial, retail, and industrial customers across the United States and Canada through its five terminals, third-party storage and terminal facilities, nine common carrier pipelines and a fleet of leased railcars.
This segment also provides services for marine exports of butane through its facility located in Chesapeake, Virginia; and owns a propane pipeline in Michigan. NGL Energy Holdings LLC serves as the general partner of the company.
NGL Energy Partners LP was founded in 1940 and is headquartered in Tulsa, Oklahoma.
Stock analysis
NGL Energy Partners LP (NGL) currently trades at $14.95, while our model-based Fair Value estimate is $4.15, 72% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of $10.29 per share, and 0 of the 12 models we run sit above the $14.95 price.
Bear case: the Earnings-Based group reads lowest at $3.70, and 12 of the 12 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $2.18 (bear) to $12.52 (bull), the price of $14.95 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 41/100 (below-average quality), in the Energy sector.
Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
NGL Energy Partners LP reported revenue of $3.2B in FY2026 versus $7.9B in FY2022, a compound −20.6%/yr. Reported net income was −$180M in FY2026.
Key figures
Market cap $1.9B Small · P/S ratio 0.58 · EPS (TTM) $−2.75 · Dividend yield 5.6% · Net margin −5.7% · Return on equity −37.7% · Return on assets (EBIT) 5.1% (5-year average) · Operating margin 14.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 25 out of 100 (medium confidence).
What moves the price
The share trades about 21% below its 52-week high and 70% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at −30% fair-value upside, at −72%, NGL screens richer than that median.
Fair Value models
All 12 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Insider trades
In the last 6 months, 2 officers or directors bought shares worth $5.8M, most recently on Aug 27, 2026. Over the same period, one person sold shares worth $5.1M. Buying cluster
- BuyJames M CollingsworthDirector2× since Aug 25, 2026: 13,297 shares, avg. $16.85$224,096Aug 27, 2026
- BuyJohn T RaymondDirector2× since Aug 21, 2026: 326,626 shares, avg. $16.92$5.5MAug 25, 2026
- SaleH Michael KrimbillChief Executive Officer, Director300,000 shares at $17.00$5.1MAug 25, 2026
Plus 6 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Source: SEC Form 4, as of Nov 6, 2026. All filings at the SEC ↗
Revenue & earnings trend
Growth Forecast
NGL screens overvalued: fair value 72% below the price. Compare with Enbridge Inc →
Recent news
- NGL Energy Partners (NGL) Stock May Be 35% Undervalued On Cash Flow
- NGL Energy Partners LP Announces Second Quarter Fiscal 2027 Financial Results
- NGL Raises 2027 EBITDA Guidance on Water Growth, LEX II
- Should You Buy NGL as Water Growth Faces Spending Risks?
Compare NGL Energy Partners LP with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Oil & Gas Midstream · 81 stocks
Valuation Multiplesvs Oil & Gas Midstream median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Energy sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- P/B ratio by industry
- Net margin by industry
- PEG screener for stocks with fair value
- Undervalued stocks: Energy
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Oil & Gas Midstream stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| MPLX LP owns and MPLX | $55.91 | $70.89 | +27% | vs NGL |
| Cheniere Energy, Inc LNG | $277.95 | $341.70 | +23% | vs NGL |
| Kinder Morgan, Inc KMI | $29.96 | $28.04 | −6% | vs NGL |
| Energy Transfer LP, ET | $18.92 | $15.12 | −20% | vs NGL |
| ONEOK, Inc OKE | $85.19 | $59.87 | −30% | vs NGL |
| Enterprise Products Partners L.P. EPD | $37.03 | $24.66 | −33% | vs NGL |
| Enbridge Inc ENB | $46.89 | $25.62 | −45% | vs NGL |
| TC Energy Corporation TRP | $61.92 | $17.35 | −72% | vs NGL |
| Targa Resources Corp TRGP | $264.59 | $64.88 | −75% | vs NGL |
| The Williams Companies, Inc WMB | $64.08 | $11.72 | −82% | vs NGL |
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Key figures of NGL Energy Partners LP
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