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 lagged the S&P 500's daily gain of 0.67%. Elsewhere, the Dow gained 0.74%, while the tech-heavy Nasdaq added 0.81%.
Heading into today, shares of the energy-related services provider had gained 9.7% over the past month, outpacing the Oils-Energy sector's gain of 5.86% and the S&P 500's gain of 3.55% in that time.
Investors will be hoping for strength from ET as it approaches its next earnings release. On that day, ET is projected to report earnings of $0.34 per share, which would represent year-over-year growth of 30.77%. Our most recent consensus estimate is calling for quarterly revenue of $13.56 billion, down 0.11% from the year-ago period.
It is also important to note the recent changes to analyst estimates for ET. These recent revisions tend to reflect the evolving nature of short-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 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. The Zacks Consensus EPS estimate has moved 0.7% lower within the past month. ET currently has a Zacks Rank of #3 (Hold).
In terms of valuation, ET is currently trading at a Forward P/E ratio of 9.39. This valuation marks a discount compared to its industry's average Forward P/E of 11.06.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 85, which puts it in the top 34% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.