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Energy Transfer LP (ET) Dips More Than Broader Markets: What You Should Know
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Energy Transfer LP (ET - Free Report) closed at $7.63 in the latest trading session, marking a -1.17% move from the prior day. This change lagged the S&P 500's daily loss of 0.55%. Meanwhile, the Dow lost 0.01%, and the Nasdaq, a tech-heavy index, lost 2.01%.
Prior to today's trading, shares of the energy-related services provider had 0% over the past month. This has was narrower than the Oils-Energy sector's loss of 1.69% and lagged the S&P 500's gain of 0.84% in that time.
Wall Street will be looking for positivity from ET as it approaches its next earnings report date. On that day, ET is projected to report earnings of $0.23 per share, which would represent year-over-year growth of 27.78%. Meanwhile, our latest consensus estimate is calling for revenue of $10.97 billion, down 5.67% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.02 per share and revenue of $45.08 billion, which would represent changes of +525% and +15.72%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for ET. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 18.06% lower within the past month. ET is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note ET's current valuation metrics, including its Forward P/E ratio of 7.54. This represents a discount compared to its industry's average Forward P/E of 8.77.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 222, putting it in the bottom 13% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Energy Transfer LP (ET) Dips More Than Broader Markets: What You Should Know
Energy Transfer LP (ET - Free Report) closed at $7.63 in the latest trading session, marking a -1.17% move from the prior day. This change lagged the S&P 500's daily loss of 0.55%. Meanwhile, the Dow lost 0.01%, and the Nasdaq, a tech-heavy index, lost 2.01%.
Prior to today's trading, shares of the energy-related services provider had 0% over the past month. This has was narrower than the Oils-Energy sector's loss of 1.69% and lagged the S&P 500's gain of 0.84% in that time.
Wall Street will be looking for positivity from ET as it approaches its next earnings report date. On that day, ET is projected to report earnings of $0.23 per share, which would represent year-over-year growth of 27.78%. Meanwhile, our latest consensus estimate is calling for revenue of $10.97 billion, down 5.67% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.02 per share and revenue of $45.08 billion, which would represent changes of +525% and +15.72%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for ET. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 18.06% lower within the past month. ET is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note ET's current valuation metrics, including its Forward P/E ratio of 7.54. This represents a discount compared to its industry's average Forward P/E of 8.77.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 222, putting it in the bottom 13% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.