Energy Transfer LP (ET - Free Report) closed at $15.49 in the latest trading session, marking a +0.39% move from the prior day. This change outpaced the S&P 500's 0% on the day. At the same time, the Dow lost 0.05%, and the tech-heavy Nasdaq lost 0.21%.
Prior to today's trading, shares of the energy-related services provider had gained 1.78% over the past month. This has lagged the Oils-Energy sector's gain of 5.11% and the S&P 500's gain of 5.49% in that time.
Wall Street will be looking for positivity from ET as it approaches its next earnings report date. On that day, ET is projected to report earnings of $0.35 per share, which would represent 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.
Any recent changes to analyst estimates for ET should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 3.3% higher within the past month. ET is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that ET has a Forward P/E ratio of 11.12 right now. For comparison, its industry has an average Forward P/E of 11.96, which means ET is trading at a discount to the group.
Also, we should mention that ET has a PEG ratio of 0.46. 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. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 3.02 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 39% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.