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Energy Transfer LP (ET) Stock Sinks As Market Gains: What You Should Know
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Energy Transfer LP (ET - Free Report) closed at $12.04 in the latest trading session, marking a -0.25% move from the prior day. This change lagged the S&P 500's 1.63% gain on the day. At the same time, the Dow added 1.07%, and the tech-heavy Nasdaq gained 0.3%.
Prior to today's trading, shares of the energy-related services provider had gained 18.1% over the past month. This has outpaced the Oils-Energy sector's gain of 15.61% and the S&P 500's gain of 2.94% 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. The company is expected to report EPS of $0.30, up 50% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $27.57 billion, up 65.42% from the year-ago period.
ET's full-year Zacks Consensus Estimates are calling for earnings of $1.40 per share and revenue of $102.24 billion. These results would represent year-over-year changes of -25.93% and +51.66%, respectively.
It is also important to note the recent changes to analyst estimates for Energy Transfer LP. 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.
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, 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 1.63% higher within the past month. Energy Transfer LP is currently a Zacks Rank #2 (Buy).
Looking at its valuation, Energy Transfer LP is holding a Forward P/E ratio of 8.61. For comparison, its industry has an average Forward P/E of 10.81, 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 group has a Zacks Industry Rank of 97, putting it in the top 39% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Energy Transfer LP (ET) Stock Sinks As Market Gains: What You Should Know
Energy Transfer LP (ET - Free Report) closed at $12.04 in the latest trading session, marking a -0.25% move from the prior day. This change lagged the S&P 500's 1.63% gain on the day. At the same time, the Dow added 1.07%, and the tech-heavy Nasdaq gained 0.3%.
Prior to today's trading, shares of the energy-related services provider had gained 18.1% over the past month. This has outpaced the Oils-Energy sector's gain of 15.61% and the S&P 500's gain of 2.94% 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. The company is expected to report EPS of $0.30, up 50% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $27.57 billion, up 65.42% from the year-ago period.
ET's full-year Zacks Consensus Estimates are calling for earnings of $1.40 per share and revenue of $102.24 billion. These results would represent year-over-year changes of -25.93% and +51.66%, respectively.
It is also important to note the recent changes to analyst estimates for Energy Transfer LP. 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.
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, 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 1.63% higher within the past month. Energy Transfer LP is currently a Zacks Rank #2 (Buy).
Looking at its valuation, Energy Transfer LP is holding a Forward P/E ratio of 8.61. For comparison, its industry has an average Forward P/E of 10.81, 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 group has a Zacks Industry Rank of 97, putting it in the top 39% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.