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Enterprise Products Partners (EPD) Gains As Market Dips: What You Should Know
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Enterprise Products Partners (EPD - Free Report) closed the latest trading day at $29.99, indicating a +0.03% change from the previous session's end. This change outpaced the S&P 500's 0.16% loss on the day. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, lost 0.06%.
The provider of midstream energy services's stock has climbed by 3.45% in the past month, exceeding the Oils-Energy sector's loss of 7.84% and the S&P 500's gain of 1.96%.
The investment community will be closely monitoring the performance of Enterprise Products Partners in its forthcoming earnings report. The company is scheduled to release its earnings on July 30, 2024. The company is predicted to post an EPS of $0.65, indicating a 14.04% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $13.81 billion, reflecting a 29.65% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.72 per share and revenue of $57.9 billion, which would represent changes of +7.51% and +16.46%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Enterprise Products Partners. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.44% lower. At present, Enterprise Products Partners boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Enterprise Products Partners is holding a Forward P/E ratio of 11.04. This represents a discount compared to its industry's average Forward P/E of 12.5.
Investors should also note that EPD has a PEG ratio of 1.4 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Production Pipeline - MLB industry had an average PEG ratio of 1.4 as trading concluded yesterday.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 19, which puts it in the top 8% of all 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.
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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Enterprise Products Partners (EPD) Gains As Market Dips: What You Should Know
Enterprise Products Partners (EPD - Free Report) closed the latest trading day at $29.99, indicating a +0.03% change from the previous session's end. This change outpaced the S&P 500's 0.16% loss on the day. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, lost 0.06%.
The provider of midstream energy services's stock has climbed by 3.45% in the past month, exceeding the Oils-Energy sector's loss of 7.84% and the S&P 500's gain of 1.96%.
The investment community will be closely monitoring the performance of Enterprise Products Partners in its forthcoming earnings report. The company is scheduled to release its earnings on July 30, 2024. The company is predicted to post an EPS of $0.65, indicating a 14.04% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $13.81 billion, reflecting a 29.65% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.72 per share and revenue of $57.9 billion, which would represent changes of +7.51% and +16.46%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Enterprise Products Partners. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.44% lower. At present, Enterprise Products Partners boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Enterprise Products Partners is holding a Forward P/E ratio of 11.04. This represents a discount compared to its industry's average Forward P/E of 12.5.
Investors should also note that EPD has a PEG ratio of 1.4 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Production Pipeline - MLB industry had an average PEG ratio of 1.4 as trading concluded yesterday.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 19, which puts it in the top 8% of all 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.