Stock Alert: NGL Energy Increases 14%

(RTTNews) - Shares of NGL Energy Partners LP (NGL) are climbing more than 13% Wednesday morning, continuing yesterday's momentum. Tuesday, it closed nearly 23% higher.

On April 27, the company had reaffirmed its outlook for fiscal 2020 stating that it currently expects adjusted EBITDA from continuing operations to be at the higher end of the previously issued guidance range of $565 million to $595 million.

Furthermore, the partnership expects 2021 adjusted EBITDA to be approximately $600 million and growth and maintenance capital expenditures of approximately $50 million each.

NGL Energy is expected to provide further details at its Fiscal 2020 year-end earnings call which is scheduled in late May 2020.

NGL is currently trading at $5.01. It has traded in the range of $1.15- $15.71 in the last 52 weeks.