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Energy Transfer LP (ET) Outpaces Stock Market Gains: What You Should Know
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Energy Transfer LP (ET - Free Report) closed the most recent trading day at $11.56, moving +1.76% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.12%. Meanwhile, the Dow gained 1.01%, and the Nasdaq, a tech-heavy index, lost 0.08%.
Prior to today's trading, shares of the energy-related services provider had gained 16.51% over the past month. This has outpaced the Oils-Energy sector's gain of 5.27% and the S&P 500's gain of 4.63% in that time.
Energy Transfer LP will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.24, down 78.95% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $21.21 billion, up 24.78% from the year-ago period.
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.
It is also important to note the recent changes to analyst estimates for Energy Transfer LP. 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.
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 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 1.33% higher within the past month. Energy Transfer LP currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Energy Transfer LP is currently trading at a Forward P/E ratio of 11.19. Its industry sports an average Forward P/E of 11.53, so we one might conclude that Energy Transfer LP is trading at a discount comparatively.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 52, putting it in the top 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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) Outpaces Stock Market Gains: What You Should Know
Energy Transfer LP (ET - Free Report) closed the most recent trading day at $11.56, moving +1.76% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.12%. Meanwhile, the Dow gained 1.01%, and the Nasdaq, a tech-heavy index, lost 0.08%.
Prior to today's trading, shares of the energy-related services provider had gained 16.51% over the past month. This has outpaced the Oils-Energy sector's gain of 5.27% and the S&P 500's gain of 4.63% in that time.
Energy Transfer LP will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.24, down 78.95% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $21.21 billion, up 24.78% from the year-ago period.
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.
It is also important to note the recent changes to analyst estimates for Energy Transfer LP. 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.
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 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 1.33% higher within the past month. Energy Transfer LP currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Energy Transfer LP is currently trading at a Forward P/E ratio of 11.19. Its industry sports an average Forward P/E of 11.53, so we one might conclude that Energy Transfer LP is trading at a discount comparatively.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 52, putting it in the top 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.