In the latest trading session, Energy Transfer LP (ET - Free Report) closed at $13.04, marking a -0.5% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.71%. At the same time, the Dow lost 0.81%, and the tech-heavy Nasdaq lost 0.79%.
Heading into today, shares of the energy-related services provider had gained 15% over the past month, outpacing the Oils-Energy sector's gain of 8.14% and the S&P 500's gain of 4.77% in that time.
Investors will be hoping for strength from ET as it approaches its next earnings release. The company is expected to report EPS of $0.34, up 30.77% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $13.56 billion, down 0.11% from the prior-year quarter.
Any recent changes to analyst estimates for ET should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.96% lower within the past month. ET is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that ET has a Forward P/E ratio of 9.42 right now. This represents a discount compared to its industry's average Forward P/E of 10.79.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 32, which puts it in the top 13% 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.