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Energy Transfer LP (ET) Outpaces Stock Market Gains: What You Should Know
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Energy Transfer LP (ET - Free Report) closed the most recent trading day at $13.11, moving +1.08% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.71%. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, added 4.62%.
Heading into today, shares of the energy-related services provider had gained 1.17% over the past month, outpacing the Oils-Energy sector's loss of 0.2% and lagging the S&P 500's gain of 2.65% in that time.
Energy Transfer LP will be looking to display strength as it nears its next earnings release, which is expected to be August 2, 2023. On that day, Energy Transfer LP is projected to report earnings of $0.31 per share, which would represent a year-over-year decline of 20.51%. Meanwhile, our latest consensus estimate is calling for revenue of $23.49 billion, down 9.47% from the prior-year quarter.
ET's full-year Zacks Consensus Estimates are calling for earnings of $1.34 per share and revenue of $99.37 billion. These results would represent year-over-year changes of -4.96% and +10.56%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. The Zacks Consensus EPS estimate has moved 0.45% lower within the past month. Energy Transfer LP is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Energy Transfer LP is holding a Forward P/E ratio of 9.69. This valuation marks a discount compared to its industry's average Forward P/E of 12.32.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 46, which puts it in the top 19% 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.
To follow ET in the coming trading sessions, be sure to utilize Zacks.com.
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Energy Transfer LP (ET) Outpaces Stock Market Gains: What You Should Know
Energy Transfer LP (ET - Free Report) closed the most recent trading day at $13.11, moving +1.08% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.71%. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, added 4.62%.
Heading into today, shares of the energy-related services provider had gained 1.17% over the past month, outpacing the Oils-Energy sector's loss of 0.2% and lagging the S&P 500's gain of 2.65% in that time.
Energy Transfer LP will be looking to display strength as it nears its next earnings release, which is expected to be August 2, 2023. On that day, Energy Transfer LP is projected to report earnings of $0.31 per share, which would represent a year-over-year decline of 20.51%. Meanwhile, our latest consensus estimate is calling for revenue of $23.49 billion, down 9.47% from the prior-year quarter.
ET's full-year Zacks Consensus Estimates are calling for earnings of $1.34 per share and revenue of $99.37 billion. These results would represent year-over-year changes of -4.96% and +10.56%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. The Zacks Consensus EPS estimate has moved 0.45% lower within the past month. Energy Transfer LP is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Energy Transfer LP is holding a Forward P/E ratio of 9.69. This valuation marks a discount compared to its industry's average Forward P/E of 12.32.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 46, which puts it in the top 19% 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.
To follow ET in the coming trading sessions, be sure to utilize Zacks.com.