Energy Transfer LP (ET - Free Report) closed the most recent trading day at $14.16, moving +1.29% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.12%. Meanwhile, the Dow lost 0.04%, and the Nasdaq, a tech-heavy index, added 0.32%.
Prior to today's trading, shares of the energy-related services provider had lost 2.44% over the past month. This has lagged the Oils-Energy sector's gain of 2.25% and the S&P 500's gain of 3.31% in that time.
ET will be looking to display strength as it nears its next earnings release. On that day, ET is projected to report earnings of $0.37 per share, which would represent year-over-year growth of 12.12%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.75 billion, up 4.47% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.37 per share and revenue of $57.58 billion, which would represent changes of +19.13% and +6.46%, respectively, from the prior year.
Investors might also notice 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% higher. ET is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, ET is currently trading at a Forward P/E ratio of 10.24. For comparison, its industry has an average Forward P/E of 12.07, which means ET is trading at a discount to the group.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 29, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.