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Energy Transfer LP (ET) Rises Yet Lags Behind Market: Some Facts Worth Knowing
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Energy Transfer LP (ET - Free Report) closed the latest trading day at $14.53, indicating a +0.48% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 0.76%. On the other hand, the Dow registered a gain of 0.59%, and the technology-centric Nasdaq increased by 1.12%.
Shares of the energy-related services provider have appreciated by 4.78% over the course of the past month, outperforming the Oils-Energy sector's loss of 2.82% and the S&P 500's gain of 2.5%.
The investment community will be closely monitoring the performance of Energy Transfer LP in its forthcoming earnings report. The company is scheduled to release its earnings on February 14, 2024. 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 14.71%. Meanwhile, our latest consensus estimate is calling for revenue of $23.59 billion, up 15.04% from the prior-year quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Energy Transfer LP. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.03% increase. Energy Transfer LP is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Energy Transfer LP's current valuation metrics, including its Forward P/E ratio of 12.34. This signifies a discount in comparison to the average Forward P/E of 12.67 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 81, finds itself in the top 33% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Energy Transfer LP (ET) Rises Yet Lags Behind Market: Some Facts Worth Knowing
Energy Transfer LP (ET - Free Report) closed the latest trading day at $14.53, indicating a +0.48% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 0.76%. On the other hand, the Dow registered a gain of 0.59%, and the technology-centric Nasdaq increased by 1.12%.
Shares of the energy-related services provider have appreciated by 4.78% over the course of the past month, outperforming the Oils-Energy sector's loss of 2.82% and the S&P 500's gain of 2.5%.
The investment community will be closely monitoring the performance of Energy Transfer LP in its forthcoming earnings report. The company is scheduled to release its earnings on February 14, 2024. 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 14.71%. Meanwhile, our latest consensus estimate is calling for revenue of $23.59 billion, up 15.04% from the prior-year quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Energy Transfer LP. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.03% increase. Energy Transfer LP is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Energy Transfer LP's current valuation metrics, including its Forward P/E ratio of 12.34. This signifies a discount in comparison to the average Forward P/E of 12.67 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 81, finds itself in the top 33% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.