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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 $11.71, marking a +1.83% move from the previous day. This move lagged the S&P 500's daily gain of 2.6%. At the same time, the Dow added 2.83%, and the tech-heavy Nasdaq gained 0.04%.
Prior to today's trading, shares of the energy-related services provider had lost 4.25% over the past month. This has was narrower than the Oils-Energy sector's loss of 5.18% and the S&P 500's loss of 12.9% in that time.
Investors will be hoping for strength from Energy Transfer LP as it approaches its next earnings release, which is expected to be November 1, 2022. In that report, analysts expect Energy Transfer LP to post earnings of $0.29 per share. This would mark year-over-year growth of 45%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $24.47 billion, up 46.83% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.38 per share and revenue of $96.01 billion. These totals would mark changes of -26.98% and +42.41%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Energy Transfer LP. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Energy Transfer LP is currently a Zacks Rank #2 (Buy).
Digging into valuation, Energy Transfer LP currently has a Forward P/E ratio of 8.33. This represents a discount compared to its industry's average Forward P/E of 10.63.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 46, putting it in the top 19% 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.
To follow ET in the coming trading sessions, be sure to utilize Zacks.com.
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Energy Transfer LP (ET) Gains But Lags Market: What You Should Know
In the latest trading session, Energy Transfer LP (ET - Free Report) closed at $11.71, marking a +1.83% move from the previous day. This move lagged the S&P 500's daily gain of 2.6%. At the same time, the Dow added 2.83%, and the tech-heavy Nasdaq gained 0.04%.
Prior to today's trading, shares of the energy-related services provider had lost 4.25% over the past month. This has was narrower than the Oils-Energy sector's loss of 5.18% and the S&P 500's loss of 12.9% in that time.
Investors will be hoping for strength from Energy Transfer LP as it approaches its next earnings release, which is expected to be November 1, 2022. In that report, analysts expect Energy Transfer LP to post earnings of $0.29 per share. This would mark year-over-year growth of 45%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $24.47 billion, up 46.83% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.38 per share and revenue of $96.01 billion. These totals would mark changes of -26.98% and +42.41%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Energy Transfer LP. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Energy Transfer LP is currently a Zacks Rank #2 (Buy).
Digging into valuation, Energy Transfer LP currently has a Forward P/E ratio of 8.33. This represents a discount compared to its industry's average Forward P/E of 10.63.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 46, putting it in the top 19% 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.
To follow ET in the coming trading sessions, be sure to utilize Zacks.com.