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Energy Transfer LP (ET) Gains As Market Dips: What You Should Know
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In the latest trading session, Energy Transfer LP (ET - Free Report) closed at $12.60, marking a +0.8% move from the previous day. This move outpaced the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 3.58%.
Prior to today's trading, shares of the energy-related services provider had lost 1.19% over the past month. This has was narrower than the Oils-Energy sector's loss of 1.31% and lagged the S&P 500's gain of 5.01% in that time.
Investors will be hoping for strength from Energy Transfer LP as it approaches its next earnings release. The company is expected to report EPS of $0.33, down 15.38% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $23.49 billion, down 9.47% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.34 per share and revenue of $99.37 billion, which would represent changes of -4.96% and +10.56%, respectively, from the prior year.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 remained stagnant within the past month. Energy Transfer LP is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Energy Transfer LP currently has a Forward P/E ratio of 9.3. For comparison, its industry has an average Forward P/E of 11.4, 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 223, putting it in the bottom 12% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Energy Transfer LP (ET) Gains As Market Dips: What You Should Know
In the latest trading session, Energy Transfer LP (ET - Free Report) closed at $12.60, marking a +0.8% move from the previous day. This move outpaced the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 3.58%.
Prior to today's trading, shares of the energy-related services provider had lost 1.19% over the past month. This has was narrower than the Oils-Energy sector's loss of 1.31% and lagged the S&P 500's gain of 5.01% in that time.
Investors will be hoping for strength from Energy Transfer LP as it approaches its next earnings release. The company is expected to report EPS of $0.33, down 15.38% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $23.49 billion, down 9.47% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.34 per share and revenue of $99.37 billion, which would represent changes of -4.96% and +10.56%, respectively, from the prior year.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 remained stagnant within the past month. Energy Transfer LP is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Energy Transfer LP currently has a Forward P/E ratio of 9.3. For comparison, its industry has an average Forward P/E of 11.4, 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 223, putting it in the bottom 12% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.