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Energy Transfer LP (ET) Gains But Lags Market: What You Should Know
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Energy Transfer LP (ET - Free Report) closed at $9.99 in the latest trading session, marking a +0.5% move from the prior day. The stock lagged the S&P 500's daily gain of 0.75%.
Coming into today, shares of the energy-related services provider had gained 8.75% in the past month. In that same time, the Oils-Energy sector gained 14.35%, while the S&P 500 lost 0.05%.
Wall Street will be looking for positivity from ET as it approaches its next earnings report date. This is expected to be November 3, 2021. On that day, ET is projected to report earnings of $0.27 per share, which would represent a year-over-year decline of 10%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.95 billion, up 50.16% from the year-ago period.
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.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.67% higher. ET is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, ET is currently trading at a Forward P/E ratio of 4.99. This represents a discount compared to its industry's average Forward P/E of 10.44.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 214, putting it in the bottom 16% 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.
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) Gains But Lags Market: What You Should Know
Energy Transfer LP (ET - Free Report) closed at $9.99 in the latest trading session, marking a +0.5% move from the prior day. The stock lagged the S&P 500's daily gain of 0.75%.
Coming into today, shares of the energy-related services provider had gained 8.75% in the past month. In that same time, the Oils-Energy sector gained 14.35%, while the S&P 500 lost 0.05%.
Wall Street will be looking for positivity from ET as it approaches its next earnings report date. This is expected to be November 3, 2021. On that day, ET is projected to report earnings of $0.27 per share, which would represent a year-over-year decline of 10%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.95 billion, up 50.16% from the year-ago period.
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.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.67% higher. ET is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, ET is currently trading at a Forward P/E ratio of 4.99. This represents a discount compared to its industry's average Forward P/E of 10.44.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 214, putting it in the bottom 16% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.