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Energy Transfer (ET) to Report Q3 Earnings: What's in Store?
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Energy Transfer LP (ET - Free Report) is scheduled to release third-quarter 2020 results on Nov 4. In the last reported quarter, this oil and gas midstream firm delivered a negative earnings surprise of 438%.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Note
During the quarter, Energy Transfer completed Lone Star Express Pipeline expansion, which added 400,000 barrels per day of natural gas liquids capacity to the firm’s existing Lone Star NGL pipeline system in Texas. Given improving production in Delaware and Permian basins, this pipeline must have contributed to third-quarter earnings.
Energy Transfer‘s assets are located in every major supply basin, with a major portion of margins being fee-based and having low commodity price sensitivity. So, the gradual increase in production volumes must have contributed to the third-quarter earnings.
Expectation
The Zacks Consensus Estimate for third-quarter earnings and revenues is pegged at 23 cents per unit and $9.12 billion, respectively. The revenue and earnings estimates indicate a decline of 37.8% and 32.4%, respectively, from the year-ago reported figures.
Our proven model predicts an earnings beat for Energy Transfer this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is the case here as you see below.
Earnings ESP: It has an Earnings ESP of +10.70%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Investors can also consider some other players from the same sector that too have the right combination of elements to beat on earnings this season.
NuStar Energy LP is scheduled to release third-quarter 2020 numbers on Nov 5. It currently has an Earnings ESP of +2.94% and a Zacks Rank #2.
MPLX L.P. (MPLX - Free Report) is slated to release third-quarter 2020 numbers on Nov 2. It has an Earnings ESP of +0.56% and a Zacks Rank of 3, at present.
Pioneer Natural Resources Company is set to release third-quarter earnings on Nov 4. It presently has an Earnings ESP of +30.00% and a Zacks Rank #3.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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Energy Transfer (ET) to Report Q3 Earnings: What's in Store?
Energy Transfer LP (ET - Free Report) is scheduled to release third-quarter 2020 results on Nov 4. In the last reported quarter, this oil and gas midstream firm delivered a negative earnings surprise of 438%.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Note
During the quarter, Energy Transfer completed Lone Star Express Pipeline expansion, which added 400,000 barrels per day of natural gas liquids capacity to the firm’s existing Lone Star NGL pipeline system in Texas. Given improving production in Delaware and Permian basins, this pipeline must have contributed to third-quarter earnings.
Energy Transfer‘s assets are located in every major supply basin, with a major portion of margins being fee-based and having low commodity price sensitivity. So, the gradual increase in production volumes must have contributed to the third-quarter earnings.
Expectation
The Zacks Consensus Estimate for third-quarter earnings and revenues is pegged at 23 cents per unit and $9.12 billion, respectively. The revenue and earnings estimates indicate a decline of 37.8% and 32.4%, respectively, from the year-ago reported figures.
Energy Transfer LP Price and EPS Surprise
Energy Transfer LP price-eps-surprise | Energy Transfer LP Quote
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for Energy Transfer this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is the case here as you see below.
Earnings ESP: It has an Earnings ESP of +10.70%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Energy Transfer carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks to Consider
Investors can also consider some other players from the same sector that too have the right combination of elements to beat on earnings this season.
NuStar Energy LP is scheduled to release third-quarter 2020 numbers on Nov 5. It currently has an Earnings ESP of +2.94% and a Zacks Rank #2.
MPLX L.P. (MPLX - Free Report) is slated to release third-quarter 2020 numbers on Nov 2. It has an Earnings ESP of +0.56% and a Zacks Rank of 3, at present.
Pioneer Natural Resources Company is set to release third-quarter earnings on Nov 4. It presently has an Earnings ESP of +30.00% and a Zacks Rank #3.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot stocks we're targeting >>