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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 $8.85 in the latest trading session, marking a +1.37% move from the prior day. This move outpaced the S&P 500's daily loss of 0.08%.
Coming into today, shares of the energy-related services provider had lost 5.21% in the past month. In that same time, the Oils-Energy sector gained 4.34%, while the S&P 500 lost 1.81%.
ET will be looking to display strength as it nears its next earnings release. In that report, analysts expect ET to post earnings of $0.26 per share. This would mark a year-over-year decline of 13.33%. Meanwhile, our latest consensus estimate is calling for revenue of $14.95 billion, up 50.16% from the prior-year quarter.
ET's full-year Zacks Consensus Estimates are calling for earnings of $1.99 per share and revenue of $63.68 billion. These results would represent year-over-year changes of +929.17% and +63.48%, respectively.
Investors might also notice 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 3.97% lower. ET currently has a Zacks Rank of #3 (Hold).
In terms of valuation, ET is currently trading at a Forward P/E ratio of 4.39. This valuation marks a discount compared to its industry's average Forward P/E of 9.08.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 28% 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.
You can find more information on all of these metrics, and much more, on 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 $8.85 in the latest trading session, marking a +1.37% move from the prior day. This move outpaced the S&P 500's daily loss of 0.08%.
Coming into today, shares of the energy-related services provider had lost 5.21% in the past month. In that same time, the Oils-Energy sector gained 4.34%, while the S&P 500 lost 1.81%.
ET will be looking to display strength as it nears its next earnings release. In that report, analysts expect ET to post earnings of $0.26 per share. This would mark a year-over-year decline of 13.33%. Meanwhile, our latest consensus estimate is calling for revenue of $14.95 billion, up 50.16% from the prior-year quarter.
ET's full-year Zacks Consensus Estimates are calling for earnings of $1.99 per share and revenue of $63.68 billion. These results would represent year-over-year changes of +929.17% and +63.48%, respectively.
Investors might also notice 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 3.97% lower. ET currently has a Zacks Rank of #3 (Hold).
In terms of valuation, ET is currently trading at a Forward P/E ratio of 4.39. This valuation marks a discount compared to its industry's average Forward P/E of 9.08.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 28% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.