In the latest trading session, Energy Transfer LP (ET - Free Report) closed at $15.74, marking a +1.35% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.46%. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq added 0.59%.
Heading into today, shares of the energy-related services provider had gained 3.4% over the past month, outpacing the Oils-Energy sector's gain of 1.45% and the S&P 500's gain of 3.24% in that time.
Investors will be hoping for strength from ET as it approaches its next earnings release. In that report, analysts expect ET to post earnings of $0.35 per share. This would mark a year-over-year decline of 16.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.35 billion, up 20.76% from the year-ago period.
ET's full-year Zacks Consensus Estimates are calling for earnings of $1.39 per share and revenue of $60.54 billion. These results would represent year-over-year changes of +20.87% and +11.92%, respectively.
It is also important to note the recent changes to analyst estimates for ET. These revisions help to show the ever-changing nature of near-term business trends. 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. 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, 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. Within the past 30 days, our consensus EPS projection has moved 2% higher. ET currently has a Zacks Rank of #3 (Hold).
In terms of valuation, ET is currently trading at a Forward P/E ratio of 11.2. This valuation marks a discount compared to its industry's average Forward P/E of 12.07.
We can also see that ET currently has a PEG ratio of 0.46. 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. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 3.04 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 160, putting it in the bottom 38% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.