Energy Transfer LP (ET) Gains As Market Dips: What You Should Know
Energy Transfer LP (ET) closed the most recent trading day at $16.10, moving +0.31% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 0.93%. Meanwhile, the Dow lost 0.41%, and the Nasdaq, a tech-heavy index, lost 1.53%.
The energy-related services provider's stock has dropped by 0.31% in the past month, exceeding the Oils-Energy sector's loss of 2.51% and lagging the S&P 500's gain of 2.17%.
Investors will be eagerly watching for the performance of Energy Transfer LP in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.32, indicating a 3.23% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $24.27 billion, indicating a 17.02% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.35 per share and a revenue of $91.4 billion, representing changes of +23.85% and +16.31%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Energy Transfer LP. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.79% lower. Energy Transfer LP currently has a Zacks Rank of #5 (Strong Sell).
From a valuation perspective, Energy Transfer LP is currently exchanging hands at a Forward P/E ratio of 11.93. This expresses a discount compared to the average Forward P/E of 12.82 of its industry.
One should further note that ET currently holds a PEG ratio of 0.49. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 1.49 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 160, this industry ranks in the bottom 37% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Energy Transfer LP (ET) : Free Stock Analysis Report