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Enterprise Products Partners (EPD) Rises As Market Takes a Dip: Key Facts

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The latest trading session saw Enterprise Products Partners (EPD - Free Report) ending at $29.71, denoting a +0.34% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 1.39%. Elsewhere, the Dow gained 0.6%, while the tech-heavy Nasdaq lost 2.77%.

Heading into today, shares of the provider of midstream energy services had gained 4.63% over the past month, outpacing the Oils-Energy sector's loss of 7.9% and the S&P 500's gain of 4.43% in that time.

Market participants will be closely following the financial results of Enterprise Products Partners in its upcoming release. The company plans to announce its earnings on July 30, 2024. It is anticipated that the company will report an EPS of $0.66, marking a 15.79% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $14.03 billion, indicating a 31.74% growth compared to the corresponding quarter of the prior year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.72 per share and a revenue of $58.34 billion, representing changes of +7.51% and +17.35%, respectively, from the prior year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Enterprise Products Partners. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.15% lower. Enterprise Products Partners is currently sporting a Zacks Rank of #3 (Hold).

With respect to valuation, Enterprise Products Partners is currently being traded at a Forward P/E ratio of 10.87. Its industry sports an average Forward P/E of 12.61, so one might conclude that Enterprise Products Partners is trading at a discount comparatively.

We can additionally observe that EPD currently boasts a PEG ratio of 1.38. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Oil and Gas - Production Pipeline - MLB industry stood at 1.38 at the close of the market yesterday.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 36, this industry ranks in the top 15% of all industries, numbering over 250.

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.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.


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