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Energy Transfer LP (ET) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest market close, Energy Transfer LP (ET - Free Report) reached $15.10, with a -0.85% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.03%. Elsewhere, the Dow saw an upswing of 0.41%, while the tech-heavy Nasdaq appreciated by 0.12%.
Prior to today's trading, shares of the energy-related services provider had lost 2.12% over the past month. This has lagged the Oils-Energy sector's gain of 4.4% and the S&P 500's loss of 0.9% in that time.
Market participants will be closely following the financial results of Energy Transfer LP in its upcoming release. The company plans to announce its earnings on May 8, 2024. The company's upcoming EPS is projected at $0.31, signifying a 3.13% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $23.44 billion, indicating a 23.4% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $1.44 per share and a revenue of $94.24 billion, demonstrating changes of +32.11% and +19.91%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Energy Transfer LP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.28% lower. Energy Transfer LP is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Energy Transfer LP is currently being traded at a Forward P/E ratio of 10.61. This represents a discount compared to its industry's average Forward P/E of 12.44.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 200, putting it in the bottom 21% 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.
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) Stock Drops Despite Market Gains: Important Facts to Note
In the latest market close, Energy Transfer LP (ET - Free Report) reached $15.10, with a -0.85% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.03%. Elsewhere, the Dow saw an upswing of 0.41%, while the tech-heavy Nasdaq appreciated by 0.12%.
Prior to today's trading, shares of the energy-related services provider had lost 2.12% over the past month. This has lagged the Oils-Energy sector's gain of 4.4% and the S&P 500's loss of 0.9% in that time.
Market participants will be closely following the financial results of Energy Transfer LP in its upcoming release. The company plans to announce its earnings on May 8, 2024. The company's upcoming EPS is projected at $0.31, signifying a 3.13% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $23.44 billion, indicating a 23.4% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $1.44 per share and a revenue of $94.24 billion, demonstrating changes of +32.11% and +19.91%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Energy Transfer LP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.28% lower. Energy Transfer LP is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Energy Transfer LP is currently being traded at a Forward P/E ratio of 10.61. This represents a discount compared to its industry's average Forward P/E of 12.44.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 200, putting it in the bottom 21% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.