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Energy Transfer LP (ET) Gains But Lags Market: What You Should Know

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In the latest trading session, Energy Transfer LP (ET - Free Report) closed at $9.97, marking a +0.2% move from the previous day. The stock lagged the S&P 500's daily gain of 0.42%.

Prior to today's trading, shares of the energy-related services provider had lost 6.4% over the past month. This has lagged the Oils-Energy sector's loss of 5.68% and the S&P 500's gain of 2.64% in that time.

Wall Street will be looking for positivity from ET as it approaches its next earnings report date. This is expected to be August 3, 2021. The company is expected to report EPS of $0.24, up 84.62% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $15.54 billion, up 111.72% from the prior-year quarter.

ET's full-year Zacks Consensus Estimates are calling for earnings of $2.13 per share and revenue of $62.87 billion. These results would represent year-over-year changes of +987.5% and +61.38%, respectively.

It is also important to note the recent changes to analyst estimates for ET. Recent revisions tend to reflect the latest near-term business trends. 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.

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. Within the past 30 days, our consensus EPS projection has moved 0.38% higher. ET is currently a Zacks Rank #1 (Strong Buy).

Looking at its valuation, ET is holding a Forward P/E ratio of 4.66. This represents a discount compared to its industry's average Forward P/E of 9.95.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 62, putting it in the top 25% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

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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