Enterprise Products Partners (EPD - Free Report) closed at $28.07 in the latest trading session, marking a -0.53% move from the prior day. This change lagged the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.09%, while the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the provider of midstream energy services had gained 1.69% over the past month, lagging the Oils-Energy sector's gain of 1.85% and the S&P 500's gain of 1.81% in that time.
Wall Street will be looking for positivity from EPD as it approaches its next earnings report date. The company is expected to report EPS of $0.47, up 20.51% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.18 billion, down 1.26% from the year-ago period.
EPD's full-year Zacks Consensus Estimates are calling for earnings of $1.93 per share and revenue of $37.07 billion. These results would represent year-over-year changes of -0.74% and +1.46%, respectively.
It is also important to note the recent changes to analyst estimates for EPD. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.23% lower. EPD currently has a Zacks Rank of #3 (Hold).
Digging into valuation, EPD currently has a Forward P/E ratio of 14.66. For comparison, its industry has an average Forward P/E of 12.14, which means EPD is trading at a premium to the group.
Also, we should mention that EPD has a PEG ratio of 4.89. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. EPD's industry had an average PEG ratio of 2.95 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 163, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow EPD in the coming trading sessions, be sure to utilize Zacks.com.