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Energy Transfer LP (ET) Gains But Lags Market: What You Should Know
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Energy Transfer LP (ET - Free Report) closed the most recent trading day at $11.72, moving +0.86% from the previous trading session. This change lagged the S&P 500's 1.61% gain on the day. At the same time, the Dow added 1.45%, and the tech-heavy Nasdaq gained 0.36%.
Heading into today, shares of the energy-related services provider had gained 17.37% over the past month, outpacing the Oils-Energy sector's gain of 9.22% and the S&P 500's loss of 1.42% in that time.
Wall Street will be looking for positivity from Energy Transfer LP as it approaches its next earnings report date. The company is expected to report EPS of $0.24, down 78.95% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $21.21 billion, up 24.78% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.02 per share and revenue of $84.04 billion, which would represent changes of -46.03% and +24.66%, respectively, from the prior year.
Any recent changes to analyst estimates for Energy Transfer LP should also be noted by investors. These revisions help to show the ever-changing nature of near-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Energy Transfer LP currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Energy Transfer LP has a Forward P/E ratio of 11.45 right now. Its industry sports an average Forward P/E of 11.72, 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 61, putting it in the top 25% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Energy Transfer LP (ET) Gains But Lags Market: What You Should Know
Energy Transfer LP (ET - Free Report) closed the most recent trading day at $11.72, moving +0.86% from the previous trading session. This change lagged the S&P 500's 1.61% gain on the day. At the same time, the Dow added 1.45%, and the tech-heavy Nasdaq gained 0.36%.
Heading into today, shares of the energy-related services provider had gained 17.37% over the past month, outpacing the Oils-Energy sector's gain of 9.22% and the S&P 500's loss of 1.42% in that time.
Wall Street will be looking for positivity from Energy Transfer LP as it approaches its next earnings report date. The company is expected to report EPS of $0.24, down 78.95% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $21.21 billion, up 24.78% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.02 per share and revenue of $84.04 billion, which would represent changes of -46.03% and +24.66%, respectively, from the prior year.
Any recent changes to analyst estimates for Energy Transfer LP should also be noted by investors. These revisions help to show the ever-changing nature of near-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Energy Transfer LP currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Energy Transfer LP has a Forward P/E ratio of 11.45 right now. Its industry sports an average Forward P/E of 11.72, 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 61, putting it in the top 25% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.