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Energy Transfer LP (ET) Stock Falls Amid Market Uptick: What Investors Need to Know
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Energy Transfer LP (ET - Free Report) closed at $19.02 in the latest trading session, marking a -1.45% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.72%. On the other hand, the Dow registered a gain of 0.48%, and the technology-centric Nasdaq increased by 1.16%.
Shares of the energy-related services provider witnessed a gain of 2.33% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 9.32%, and outperforming the S&P 500's loss of 4.99%.
The investment community will be closely monitoring the performance of Energy Transfer LP in its forthcoming earnings report. On that day, Energy Transfer LP is projected to report earnings of $0.37 per share, which would represent year-over-year growth of 2.78%. Our most recent consensus estimate is calling for quarterly revenue of $29.97 billion, up 42.59% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.48 per share and a revenue of $120.25 billion, indicating changes of +22.31% and +40.59%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Energy Transfer LP. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.64% lower. Energy Transfer LP is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Energy Transfer LP is at present trading with a Forward P/E ratio of 13.07. This indicates a discount in contrast to its industry's Forward P/E of 13.44.
Also, we should mention that ET has a PEG ratio of 1.08. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Oil and Gas - Production Pipeline - MLB industry stood at 1.51 at the close of the market yesterday.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 200, this industry ranks in the bottom 19% of all industries, numbering over 250.
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.
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 Falls Amid Market Uptick: What Investors Need to Know
Energy Transfer LP (ET - Free Report) closed at $19.02 in the latest trading session, marking a -1.45% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.72%. On the other hand, the Dow registered a gain of 0.48%, and the technology-centric Nasdaq increased by 1.16%.
Shares of the energy-related services provider witnessed a gain of 2.33% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 9.32%, and outperforming the S&P 500's loss of 4.99%.
The investment community will be closely monitoring the performance of Energy Transfer LP in its forthcoming earnings report. On that day, Energy Transfer LP is projected to report earnings of $0.37 per share, which would represent year-over-year growth of 2.78%. Our most recent consensus estimate is calling for quarterly revenue of $29.97 billion, up 42.59% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.48 per share and a revenue of $120.25 billion, indicating changes of +22.31% and +40.59%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Energy Transfer LP. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.64% lower. Energy Transfer LP is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Energy Transfer LP is at present trading with a Forward P/E ratio of 13.07. This indicates a discount in contrast to its industry's Forward P/E of 13.44.
Also, we should mention that ET has a PEG ratio of 1.08. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Oil and Gas - Production Pipeline - MLB industry stood at 1.51 at the close of the market yesterday.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 200, this industry ranks in the bottom 19% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.