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Energy Transfer LP (ET) Ascends But Remains Behind Market: Some Facts to Note
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In the latest market close, Energy Transfer LP (ET - Free Report) reached $15.88, with a +0.28% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 1.2% for the day. On the other hand, the Dow registered a gain of 0.69%, and the technology-centric Nasdaq increased by 1.59%.
Shares of the energy-related services provider have appreciated by 1.74% over the course of the past month, underperforming the Oils-Energy sector's gain of 3.58% and outperforming the S&P 500's loss of 4.16%.
The investment community will be closely monitoring the performance of Energy Transfer LP in its forthcoming earnings report. The company is scheduled to release its earnings on May 8, 2024. In that report, analysts expect Energy Transfer LP to post earnings of $0.31 per share. This would mark a year-over-year decline of 3.13%. At the same time, our most recent consensus estimate is projecting a revenue of $23.44 billion, reflecting a 23.4% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.46 per share and revenue of $94.24 billion, indicating changes of +33.94% and +19.91%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Energy Transfer LP. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.81% higher. Energy Transfer LP is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Energy Transfer LP is currently exchanging hands at a Forward P/E ratio of 10.83. This indicates a discount in contrast to its industry's Forward P/E of 12.68.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 172, positioning it in the bottom 32% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Energy Transfer LP (ET) Ascends But Remains Behind Market: Some Facts to Note
In the latest market close, Energy Transfer LP (ET - Free Report) reached $15.88, with a +0.28% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 1.2% for the day. On the other hand, the Dow registered a gain of 0.69%, and the technology-centric Nasdaq increased by 1.59%.
Shares of the energy-related services provider have appreciated by 1.74% over the course of the past month, underperforming the Oils-Energy sector's gain of 3.58% and outperforming the S&P 500's loss of 4.16%.
The investment community will be closely monitoring the performance of Energy Transfer LP in its forthcoming earnings report. The company is scheduled to release its earnings on May 8, 2024. In that report, analysts expect Energy Transfer LP to post earnings of $0.31 per share. This would mark a year-over-year decline of 3.13%. At the same time, our most recent consensus estimate is projecting a revenue of $23.44 billion, reflecting a 23.4% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.46 per share and revenue of $94.24 billion, indicating changes of +33.94% and +19.91%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Energy Transfer LP. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.81% higher. Energy Transfer LP is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Energy Transfer LP is currently exchanging hands at a Forward P/E ratio of 10.83. This indicates a discount in contrast to its industry's Forward P/E of 12.68.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 172, positioning it in the bottom 32% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.