Energy Transfer LP (ET - Free Report) closed the most recent trading day at $13.04, moving -0.5% from the previous trading session. This move lagged the S&P 500's daily gain of 0.19%. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq added 0.08%.
Heading into today, shares of the energy-related services provider had gained 7.45% over the past month, outpacing the Oils-Energy sector's gain of 4.35% and the S&P 500's gain of 3.72% 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 $0.34 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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 0.5% lower. ET is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, ET is currently trading at a Forward P/E ratio of 9.55. This valuation marks a discount compared to its industry's average Forward P/E of 11.24.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 86, putting 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.