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Energy Transfer LP (ET) Suffers a Larger Drop Than the General Market: Key Insights
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Energy Transfer LP (ET - Free Report) closed the latest trading day at $16.11, indicating a -1.53% change from the previous session's end. The stock's change was less 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 energy-related services provider had gained 5.68% 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 Energy Transfer LP in its upcoming release. The company plans to announce its earnings on August 7, 2024. In that report, analysts expect Energy Transfer LP to post earnings of $0.36 per share. This would mark year-over-year growth of 44%. Meanwhile, our latest consensus estimate is calling for revenue of $24.61 billion, up 34.34% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.45 per share and a revenue of $97.64 billion, representing changes of +33.03% and +24.24%, respectively, from the prior 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 1.26% higher. Energy Transfer LP presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Energy Transfer LP is at present trading with a Forward P/E ratio of 11.27. This indicates a discount in contrast to its industry's Forward P/E of 12.61.
It is also worth noting that ET currently has a PEG ratio of 0.45. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Production Pipeline - MLB industry currently had an average PEG ratio of 1.38 as of yesterday's close.
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 36, placing it within the top 15% of over 250 industries.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Energy Transfer LP (ET) Suffers a Larger Drop Than the General Market: Key Insights
Energy Transfer LP (ET - Free Report) closed the latest trading day at $16.11, indicating a -1.53% change from the previous session's end. The stock's change was less 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 energy-related services provider had gained 5.68% 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 Energy Transfer LP in its upcoming release. The company plans to announce its earnings on August 7, 2024. In that report, analysts expect Energy Transfer LP to post earnings of $0.36 per share. This would mark year-over-year growth of 44%. Meanwhile, our latest consensus estimate is calling for revenue of $24.61 billion, up 34.34% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.45 per share and a revenue of $97.64 billion, representing changes of +33.03% and +24.24%, respectively, from the prior 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 1.26% higher. Energy Transfer LP presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Energy Transfer LP is at present trading with a Forward P/E ratio of 11.27. This indicates a discount in contrast to its industry's Forward P/E of 12.61.
It is also worth noting that ET currently has a PEG ratio of 0.45. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Production Pipeline - MLB industry currently had an average PEG ratio of 1.38 as of yesterday's close.
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 36, placing it within the top 15% of over 250 industries.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.