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Why Enterprise Products Partners (EPD) Outpaced the Stock Market Today
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Enterprise Products Partners (EPD - Free Report) closed the most recent trading day at $26.49, moving +1.11% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.27%. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq gained 0.19%.
Heading into today, shares of the provider of midstream energy services had lost 0.15% over the past month, outpacing the Oils-Energy sector's loss of 1.25% and lagging the S&P 500's gain of 6.94% in that time.
The investment community will be closely monitoring the performance of Enterprise Products Partners in its forthcoming earnings report. The company is forecasted to report an EPS of $0.66, showcasing a 1.54% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $12.87 billion, indicating a 5.73% decline compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.48 per share and a revenue of $47.81 billion, indicating changes of -1.59% and -17.84%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Enterprise Products Partners. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate has moved 0.93% lower within the past month. Enterprise Products Partners is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Enterprise Products Partners has a Forward P/E ratio of 10.56 right now. For comparison, its industry has an average Forward P/E of 12.83, which means Enterprise Products Partners is trading at a discount to the group.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 160, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Why Enterprise Products Partners (EPD) Outpaced the Stock Market Today
Enterprise Products Partners (EPD - Free Report) closed the most recent trading day at $26.49, moving +1.11% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.27%. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq gained 0.19%.
Heading into today, shares of the provider of midstream energy services had lost 0.15% over the past month, outpacing the Oils-Energy sector's loss of 1.25% and lagging the S&P 500's gain of 6.94% in that time.
The investment community will be closely monitoring the performance of Enterprise Products Partners in its forthcoming earnings report. The company is forecasted to report an EPS of $0.66, showcasing a 1.54% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $12.87 billion, indicating a 5.73% decline compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.48 per share and a revenue of $47.81 billion, indicating changes of -1.59% and -17.84%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Enterprise Products Partners. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate has moved 0.93% lower within the past month. Enterprise Products Partners is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Enterprise Products Partners has a Forward P/E ratio of 10.56 right now. For comparison, its industry has an average Forward P/E of 12.83, which means Enterprise Products Partners is trading at a discount to the group.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 160, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.