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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 $13.82, marking a +0.36% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.22%. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, lost 0.23%.
Heading into today, shares of the energy-related services provider had gained 5.92% over the past month, outpacing the Oils-Energy sector's gain of 4.72% and the S&P 500's gain of 2.08% in that time.
Energy Transfer LP will be looking to display strength as it nears its next earnings release. On that day, Energy Transfer LP is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 3.33%. Our most recent consensus estimate is calling for quarterly revenue of $21.5 billion, down 6.29% from the year-ago period.
ET's full-year Zacks Consensus Estimates are calling for earnings of $1.21 per share and revenue of $80.67 billion. These results would represent year-over-year changes of -14.18% and -10.24%, respectively.
Any recent changes to analyst estimates for Energy Transfer LP should also be noted by investors. 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.39% lower. 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 11.36. This valuation marks a discount compared to its industry's average Forward P/E of 12.42.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% 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.
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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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 $13.82, marking a +0.36% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.22%. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, lost 0.23%.
Heading into today, shares of the energy-related services provider had gained 5.92% over the past month, outpacing the Oils-Energy sector's gain of 4.72% and the S&P 500's gain of 2.08% in that time.
Energy Transfer LP will be looking to display strength as it nears its next earnings release. On that day, Energy Transfer LP is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 3.33%. Our most recent consensus estimate is calling for quarterly revenue of $21.5 billion, down 6.29% from the year-ago period.
ET's full-year Zacks Consensus Estimates are calling for earnings of $1.21 per share and revenue of $80.67 billion. These results would represent year-over-year changes of -14.18% and -10.24%, respectively.
Any recent changes to analyst estimates for Energy Transfer LP should also be noted by investors. 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.39% lower. 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 11.36. This valuation marks a discount compared to its industry's average Forward P/E of 12.42.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.