Energy Transfer LP (ET - Free Report) closed the most recent trading day at $9.93, moving -0.1% from the previous trading session. This change was narrower than the S&P 500's 0.69% loss on the day.
Heading into today, shares of the energy-related services provider had gained 6.88% over the past month, lagging the Oils-Energy sector's gain of 14.29% and outpacing the S&P 500's loss of 2.58% in that time.
ET will be looking to display strength as it nears its next earnings release. On that day, ET is projected to report earnings of $0.27 per share, which would represent a year-over-year decline of 10%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.95 billion, up 50.16% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.99 per share and revenue of $63.68 billion, which would represent changes of +929.17% and +63.48%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for ET. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.84% higher. ET is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, ET currently has a Forward P/E ratio of 4.99. This represents a discount compared to its industry's average Forward P/E of 10.08.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 211, which puts it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ET in the coming trading sessions, be sure to utilize Zacks.com.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
Energy Transfer LP (ET - Free Report) closed the most recent trading day at $9.93, moving -0.1% from the previous trading session. This change was narrower than the S&P 500's 0.69% loss on the day.
Heading into today, shares of the energy-related services provider had gained 6.88% over the past month, lagging the Oils-Energy sector's gain of 14.29% and outpacing the S&P 500's loss of 2.58% in that time.
ET will be looking to display strength as it nears its next earnings release. On that day, ET is projected to report earnings of $0.27 per share, which would represent a year-over-year decline of 10%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.95 billion, up 50.16% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.99 per share and revenue of $63.68 billion, which would represent changes of +929.17% and +63.48%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for ET. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.84% higher. ET is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, ET currently has a Forward P/E ratio of 4.99. This represents a discount compared to its industry's average Forward P/E of 10.08.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 211, which puts it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ET in the coming trading sessions, be sure to utilize Zacks.com.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
Get the latest research report on ET - FREE