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Energy Transfer LP (ET) Stock Moves -0.89%: What You Should Know
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Energy Transfer LP (ET - Free Report) closed at $11.09 in the latest trading session, marking a -0.89% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.97%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, lost 0.49%.
Coming into today, shares of the energy-related services provider had gained 7.39% in the past month. In that same time, the Oils-Energy sector gained 4.07%, while the S&P 500 gained 4.71%.
Investors will be hoping for strength from Energy Transfer LP as it approaches its next earnings release. On that day, Energy Transfer LP is projected to report earnings of $0.24 per share, which would represent a year-over-year decline of 78.95%. Meanwhile, our latest consensus estimate is calling for revenue of $21.21 billion, up 24.78% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.02 per share and revenue of $84.04 billion. These totals would mark changes of -46.03% and +24.66%, respectively, from last year.
Any recent changes to analyst estimates for Energy Transfer LP should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 4.1% higher within the past month. Energy Transfer LP is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Energy Transfer LP is holding a Forward P/E ratio of 11.02. For comparison, its industry has an average Forward P/E of 11.33, which means Energy Transfer LP is trading at a discount to the group.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ET in the coming trading sessions, be sure to utilize Zacks.com.
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Energy Transfer LP (ET) Stock Moves -0.89%: What You Should Know
Energy Transfer LP (ET - Free Report) closed at $11.09 in the latest trading session, marking a -0.89% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.97%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, lost 0.49%.
Coming into today, shares of the energy-related services provider had gained 7.39% in the past month. In that same time, the Oils-Energy sector gained 4.07%, while the S&P 500 gained 4.71%.
Investors will be hoping for strength from Energy Transfer LP as it approaches its next earnings release. On that day, Energy Transfer LP is projected to report earnings of $0.24 per share, which would represent a year-over-year decline of 78.95%. Meanwhile, our latest consensus estimate is calling for revenue of $21.21 billion, up 24.78% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.02 per share and revenue of $84.04 billion. These totals would mark changes of -46.03% and +24.66%, respectively, from last year.
Any recent changes to analyst estimates for Energy Transfer LP should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 4.1% higher within the past month. Energy Transfer LP is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Energy Transfer LP is holding a Forward P/E ratio of 11.02. For comparison, its industry has an average Forward P/E of 11.33, which means Energy Transfer LP is trading at a discount to the group.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ET in the coming trading sessions, be sure to utilize Zacks.com.