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Energy Transfer LP (ET) Stock Moves -1.23%: What You Should Know

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Energy Transfer LP (ET - Free Report) closed the most recent trading day at $8.81, moving -1.23% from the previous trading session. This change was narrower than the S&P 500's 1.94% loss on the day. At the same time, the Dow lost 1.07%, and the tech-heavy Nasdaq lost 0.39%.

Prior to today's trading, shares of the energy-related services provider had gained 6.7% over the past month. This has outpaced the Oils-Energy sector's gain of 5.65% and the S&P 500's gain of 5.72% in that time.

Wall Street will be looking for positivity from Energy Transfer LP as it approaches its next earnings report date. On that day, Energy Transfer LP is projected to report earnings of $0.24 per share, which would represent year-over-year growth of 26.32%. Our most recent consensus estimate is calling for quarterly revenue of $18.94 billion, up 88.72% from the year-ago period.

It is also important to note the recent changes to analyst estimates for Energy Transfer LP. 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.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 4.92% lower within the past month. Energy Transfer LP currently has a Zacks Rank of #5 (Strong Sell).

Looking at its valuation, Energy Transfer LP is holding a Forward P/E ratio of 8.39. Its industry sports an average Forward P/E of 9.67, so we one might conclude that Energy Transfer LP is trading at a discount comparatively.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 240, putting it in the bottom 6% 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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