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Why the Market Dipped But Energy Transfer LP (ET) Gained Today
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In the latest trading session, Energy Transfer LP (ET - Free Report) closed at $13.80, marking a +0.22% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.28%. Elsewhere, the Dow lost 0.06%, while the tech-heavy Nasdaq lost 0.56%.
Heading into today, shares of the energy-related services provider had lost 0.86% over the past month, lagging the Oils-Energy sector's gain of 0.78% and the S&P 500's gain of 5.24% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Energy Transfer LP in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.28, showcasing a 17.65% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $23.61 billion, up 15.18% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.04 per share and revenue of $81.67 billion, indicating changes of -26.24% and -9.13%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Energy Transfer LP. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Energy Transfer LP currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Energy Transfer LP currently has a Forward P/E ratio of 13.24. For comparison, its industry has an average Forward P/E of 13.1, which means Energy Transfer LP is trading at a premium to the group.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 90, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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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Why the Market Dipped But Energy Transfer LP (ET) Gained Today
In the latest trading session, Energy Transfer LP (ET - Free Report) closed at $13.80, marking a +0.22% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.28%. Elsewhere, the Dow lost 0.06%, while the tech-heavy Nasdaq lost 0.56%.
Heading into today, shares of the energy-related services provider had lost 0.86% over the past month, lagging the Oils-Energy sector's gain of 0.78% and the S&P 500's gain of 5.24% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Energy Transfer LP in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.28, showcasing a 17.65% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $23.61 billion, up 15.18% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.04 per share and revenue of $81.67 billion, indicating changes of -26.24% and -9.13%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Energy Transfer LP. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Energy Transfer LP currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Energy Transfer LP currently has a Forward P/E ratio of 13.24. For comparison, its industry has an average Forward P/E of 13.1, which means Energy Transfer LP is trading at a premium to the group.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 90, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.