Energy Transfer LP (ET - Free Report) closed at $15.08 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 0.09%. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq lost 0.16%.
Prior to today's trading, shares of the energy-related services provider had gained 2.29% over the past month. This has lagged the Oils-Energy sector's gain of 2.32% and the S&P 500's gain of 2.35% in that time.
ET will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.30, down 28.57% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $14.79 billion, up 24.45% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.23 per share and revenue of $61.33 billion. These totals would mark changes of +6.96% and +13.4%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for ET. 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 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. Within the past 30 days, our consensus EPS projection has moved 1.91% lower. ET is currently a Zacks Rank #3 (Hold).
In terms of valuation, ET is currently trading at a Forward P/E ratio of 12.28. Its industry sports an average Forward P/E of 12.28, so we one might conclude that ET is trading at a no noticeable deviation comparatively.
Meanwhile, ET's PEG ratio is currently 0.5. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 2.99 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 143, putting it in the bottom 44% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.