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Energy Transfer LP (ET) Stock Slides as Market Rises: Facts to Know Before You Trade
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In the latest trading session, Energy Transfer LP (ET - Free Report) closed at $13.75, marking a -0.22% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.73%. At the same time, the Dow added 0.62%, and the tech-heavy Nasdaq gained 0.93%.
Shares of the energy-related services provider witnessed a loss of 1.64% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 0.7% and outperforming the S&P 500's loss of 2.29%.
Analysts and investors alike will be keeping a close eye on the performance of Energy Transfer LP in its upcoming earnings disclosure. The company's earnings report is set to go public on November 1, 2023. In that report, analysts expect Energy Transfer LP to post earnings of $0.29 per share. This would mark a year-over-year decline of 3.33%. Meanwhile, the latest consensus estimate predicts the revenue to be $21.68 billion, indicating a 5.49% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.22 per share and a revenue of $81.28 billion, representing changes of -13.48% and -9.56%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Energy Transfer LP. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 0.62% higher within the past month. As of now, Energy Transfer LP holds a Zacks Rank of #2 (Buy).
In the context of valuation, Energy Transfer LP is at present trading with a Forward P/E ratio of 11.3. This signifies a discount in comparison to the average Forward P/E of 12.13 for its industry.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 71, finds itself in the top 29% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Energy Transfer LP (ET) Stock Slides as Market Rises: Facts to Know Before You Trade
In the latest trading session, Energy Transfer LP (ET - Free Report) closed at $13.75, marking a -0.22% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.73%. At the same time, the Dow added 0.62%, and the tech-heavy Nasdaq gained 0.93%.
Shares of the energy-related services provider witnessed a loss of 1.64% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 0.7% and outperforming the S&P 500's loss of 2.29%.
Analysts and investors alike will be keeping a close eye on the performance of Energy Transfer LP in its upcoming earnings disclosure. The company's earnings report is set to go public on November 1, 2023. In that report, analysts expect Energy Transfer LP to post earnings of $0.29 per share. This would mark a year-over-year decline of 3.33%. Meanwhile, the latest consensus estimate predicts the revenue to be $21.68 billion, indicating a 5.49% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.22 per share and a revenue of $81.28 billion, representing changes of -13.48% and -9.56%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Energy Transfer LP. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 0.62% higher within the past month. As of now, Energy Transfer LP holds a Zacks Rank of #2 (Buy).
In the context of valuation, Energy Transfer LP is at present trading with a Forward P/E ratio of 11.3. This signifies a discount in comparison to the average Forward P/E of 12.13 for its industry.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 71, finds itself in the top 29% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.