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Energy Transfer LP (ET) Ascends While Market Falls: Some Facts to Note
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The latest trading session saw Energy Transfer LP (ET - Free Report) ending at $13.93, denoting a +0.65% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 1.34%. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 1.62%.
The the stock of energy-related services provider has risen by 0.14% in the past month, lagging the Oils-Energy sector's gain of 0.46% and overreaching the S&P 500's loss of 1.57%.
Investors will be eagerly watching for the performance of Energy Transfer LP in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 1, 2023. The company's earnings per share (EPS) are projected to be $0.29, reflecting a 3.33% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $21.5 billion, indicating a 6.29% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.21 per share and a revenue of $80.67 billion, demonstrating changes of -14.18% and -10.24%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Energy Transfer LP. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Energy Transfer LP is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Energy Transfer LP has a Forward P/E ratio of 11.41 right now. This signifies a discount in comparison to the average Forward P/E of 12.4 for its industry.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
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) Ascends While Market Falls: Some Facts to Note
The latest trading session saw Energy Transfer LP (ET - Free Report) ending at $13.93, denoting a +0.65% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 1.34%. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 1.62%.
The the stock of energy-related services provider has risen by 0.14% in the past month, lagging the Oils-Energy sector's gain of 0.46% and overreaching the S&P 500's loss of 1.57%.
Investors will be eagerly watching for the performance of Energy Transfer LP in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 1, 2023. The company's earnings per share (EPS) are projected to be $0.29, reflecting a 3.33% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $21.5 billion, indicating a 6.29% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.21 per share and a revenue of $80.67 billion, demonstrating changes of -14.18% and -10.24%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Energy Transfer LP. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Energy Transfer LP is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Energy Transfer LP has a Forward P/E ratio of 11.41 right now. This signifies a discount in comparison to the average Forward P/E of 12.4 for its industry.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.