Energy Transfer LP (ET - Free Report) closed the most recent trading day at $13.34, moving +0.68% from the previous trading session. This move outpaced the S&P 500's daily loss of 2.48%. Meanwhile, the Dow lost 2.83%, and the Nasdaq, a tech-heavy index, lost 3.04%.
Prior to today's trading, shares of the energy-related services provider had lost 7.08% over the past month. This has was narrower than the Oils-Energy sector's loss of 8.19% and the S&P 500's loss of 8.82% in that time.
ET will be looking to display strength as it nears its next earnings release, which is expected to be February 20, 2019. On that day, ET is projected to report earnings of $0.47 per share, which would represent year-over-year growth of 14.63%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.82 billion, up 29.39% from the year-ago period.
Any recent changes to analyst estimates for ET should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 3.91% higher within the past month. ET is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note ET's current valuation metrics, including its Forward P/E ratio of 9.18. For comparison, its industry has an average Forward P/E of 10.93, which means ET is trading at a discount to the group.
Investors should also note that ET has a PEG ratio of 0.28 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 1.67 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 68, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ET in the coming trading sessions, be sure to utilize Zacks.com.