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Why the Market Dipped But Energy Transfer LP (ET) Gained Today
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The latest trading session saw Energy Transfer LP (ET - Free Report) ending at $16.40, denoting a +0.12% adjustment from its last day's close. This change outpaced the S&P 500's 0.16% loss on the day. Elsewhere, the Dow saw a downswing of 0.14%, while the tech-heavy Nasdaq depreciated by 0.06%.
Shares of the energy-related services provider witnessed a gain of 2.95% over the previous month, beating the performance of the Oils-Energy sector with its loss of 7.84% and the S&P 500's gain of 1.96%.
The upcoming earnings release of Energy Transfer LP will be of great interest to investors. The company's earnings report is expected on August 7, 2024. The company's upcoming EPS is projected at $0.36, signifying a 44% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $24.64 billion, showing a 34.48% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.46 per share and a revenue of $97.83 billion, signifying shifts of +33.94% and +24.49%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Energy Transfer LP. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.83% upward. Energy Transfer LP is currently sporting a Zacks Rank of #2 (Buy).
With respect to valuation, Energy Transfer LP is currently being traded at a Forward P/E ratio of 11.22. For comparison, its industry has an average Forward P/E of 12.5, which means Energy Transfer LP is trading at a discount to the group.
Also, we should mention that ET has a PEG ratio of 0.44. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 1.4 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 19, putting it in the top 8% 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.
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
The latest trading session saw Energy Transfer LP (ET - Free Report) ending at $16.40, denoting a +0.12% adjustment from its last day's close. This change outpaced the S&P 500's 0.16% loss on the day. Elsewhere, the Dow saw a downswing of 0.14%, while the tech-heavy Nasdaq depreciated by 0.06%.
Shares of the energy-related services provider witnessed a gain of 2.95% over the previous month, beating the performance of the Oils-Energy sector with its loss of 7.84% and the S&P 500's gain of 1.96%.
The upcoming earnings release of Energy Transfer LP will be of great interest to investors. The company's earnings report is expected on August 7, 2024. The company's upcoming EPS is projected at $0.36, signifying a 44% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $24.64 billion, showing a 34.48% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.46 per share and a revenue of $97.83 billion, signifying shifts of +33.94% and +24.49%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Energy Transfer LP. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.83% upward. Energy Transfer LP is currently sporting a Zacks Rank of #2 (Buy).
With respect to valuation, Energy Transfer LP is currently being traded at a Forward P/E ratio of 11.22. For comparison, its industry has an average Forward P/E of 12.5, which means Energy Transfer LP is trading at a discount to the group.
Also, we should mention that ET has a PEG ratio of 0.44. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 1.4 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 19, putting it in the top 8% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.