Energy Transfer LP (ET - Free Report) is scheduled to release fourth-quarter 2019 results on Feb 19, after market close. This oil and gas midstream firm came up with in-line earnings in the last reported quarter.
Let’s see how things have shaped up for this earnings season.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for Energy Transfer this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
Earnings ESP: It has an Earnings ESP of +4.86%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Energy Transfer carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Factors to Consider
Energy Transfer’s fourth-quarter earnings are expected to have gained from diverse customer mix and predominantly fee-based business.
Moreover, the firm’s fourth-quarter earnings are expected to have benefited from the completion of project backlog and acquisition of SemGroup Corporation.
The Zacks Consensus Estimate for fourth-quarter earnings and revenues is pegged at 34 cents per share and $13.53 billion, respectively. The revenue projection indicates a 0.3% decline, while the bottom-line estimate indicates growth of 30.8% from the year-ago reported figure.
Other Stocks to Consider
Here are some other stocks worth considering from the same space that have the perfect mix of elements to beat on earnings in the upcoming releases:
The William Companies Inc. (WMB - Free Report) is set to release fourth-quarter results on Feb 19. It has an Earnings ESP of +6.78% and a Zacks Rank #3.
Cheniere Energy Partners, L.P. (CQP - Free Report) is slated to release fourth-quarter results on Feb 25. It has an Earnings ESP of +3.82% and a Zacks Rank #3.
Oasis Midstream Partners LP. (OMP - Free Report) is scheduled to release fourth-quarter results on Feb 25. It has an Earnings ESP of +3.41% and a Zacks Rank #3
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