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Energy Transfer LP (ET) Gains As Market Dips: What You Should Know
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Energy Transfer LP (ET - Free Report) closed at $6.83 in the latest trading session, marking a +0.74% move from the prior day. This change outpaced the S&P 500's 0.04% loss on the day. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq lost 0.25%.
Heading into today, shares of the energy-related services provider had gained 3.37% over the past month, outpacing the Oils-Energy sector's gain of 0.92% and the S&P 500's gain of 2.37% in that time.
ET will be looking to display strength as it nears its next earnings release, which is expected to be February 17, 2021. On that day, ET is projected to report earnings of $0.28 per share, which would represent a year-over-year decline of 26.32%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.33 billion, down 24.71% from the year-ago period.
Any recent changes to analyst estimates for ET should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.4% higher within the past month. ET is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that ET has a Forward P/E ratio of 5.24 right now. This valuation marks a discount compared to its industry's average Forward P/E of 7.7.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 122, putting it in the top 48% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.
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Energy Transfer LP (ET) Gains As Market Dips: What You Should Know
Energy Transfer LP (ET - Free Report) closed at $6.83 in the latest trading session, marking a +0.74% move from the prior day. This change outpaced the S&P 500's 0.04% loss on the day. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq lost 0.25%.
Heading into today, shares of the energy-related services provider had gained 3.37% over the past month, outpacing the Oils-Energy sector's gain of 0.92% and the S&P 500's gain of 2.37% in that time.
ET will be looking to display strength as it nears its next earnings release, which is expected to be February 17, 2021. On that day, ET is projected to report earnings of $0.28 per share, which would represent a year-over-year decline of 26.32%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.33 billion, down 24.71% from the year-ago period.
Any recent changes to analyst estimates for ET should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.4% higher within the past month. ET is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that ET has a Forward P/E ratio of 5.24 right now. This valuation marks a discount compared to its industry's average Forward P/E of 7.7.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 122, putting it in the top 48% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.