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Energy Transfer LP (ET) Stock Slides as Market Rises: Facts to Know Before You Trade
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Energy Transfer LP (ET - Free Report) closed the latest trading day at $13.92, indicating a -0.57% change from the previous session's end. This move lagged the S&P 500's daily gain of 0.57%. Elsewhere, the Dow saw an upswing of 0.46%, while the tech-heavy Nasdaq appreciated by 0.75%.
The the stock of energy-related services provider has risen by 5.66% in the past month, leading the Oils-Energy sector's gain of 1.25% and the S&P 500's gain of 3.4%.
The investment community will be closely monitoring the performance of Energy Transfer LP in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.28, reflecting a 17.65% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $23.61 billion, up 15.18% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Energy Transfer LP. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.69% higher. Energy Transfer LP presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Energy Transfer LP is holding a Forward P/E ratio of 12.03. This signifies a discount in comparison to the average Forward P/E of 12.16 for its industry.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 204, placing it within the bottom 20% of over 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 Slides as Market Rises: Facts to Know Before You Trade
Energy Transfer LP (ET - Free Report) closed the latest trading day at $13.92, indicating a -0.57% change from the previous session's end. This move lagged the S&P 500's daily gain of 0.57%. Elsewhere, the Dow saw an upswing of 0.46%, while the tech-heavy Nasdaq appreciated by 0.75%.
The the stock of energy-related services provider has risen by 5.66% in the past month, leading the Oils-Energy sector's gain of 1.25% and the S&P 500's gain of 3.4%.
The investment community will be closely monitoring the performance of Energy Transfer LP in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.28, reflecting a 17.65% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $23.61 billion, up 15.18% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Energy Transfer LP. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.69% higher. Energy Transfer LP presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Energy Transfer LP is holding a Forward P/E ratio of 12.03. This signifies a discount in comparison to the average Forward P/E of 12.16 for its industry.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 204, placing it within the bottom 20% of over 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.