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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 $9.44 in the latest trading session, marking a -1.97% move from the prior day. This move lagged the S&P 500's daily loss of 1.42%. Meanwhile, the Dow lost 0.49%, and the Nasdaq, a tech-heavy index, lost 0.47%.

Coming into today, shares of the energy-related services provider had gained 15.19% in the past month. In that same time, the Oils-Energy sector gained 8.29%, while the S&P 500 gained 0.39%.

Energy Transfer LP will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.24, up 26.32% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $18.94 billion, up 88.72% from the year-ago period.

Investors might also notice recent changes to analyst estimates for Energy Transfer LP. These recent revisions tend to reflect the evolving nature of short-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. 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 9.69% lower. Energy Transfer LP currently has a Zacks Rank of #3 (Hold).

Investors should also note Energy Transfer LP's current valuation metrics, including its Forward P/E ratio of 9.53. For comparison, its industry has an average Forward P/E of 9.55, which means Energy Transfer LP is trading at a discount to the group.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 222, which puts 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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