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Enterprise Products Partners (EPD) Stock Moves -0.97%: What You Should Know
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The latest trading session saw Enterprise Products Partners (EPD - Free Report) ending at $29.70, denoting a -0.97% adjustment from its last day's close. This change was narrower than the S&P 500's daily loss of 2.32%. At the same time, the Dow lost 1.25%, and the tech-heavy Nasdaq lost 3.64%.
The the stock of provider of midstream energy services has risen by 2.99% in the past month, leading the Oils-Energy sector's loss of 8.99% and the S&P 500's gain of 1.79%.
The investment community will be paying close attention to the earnings performance of Enterprise Products Partners in its upcoming release. The company is slated to reveal its earnings on July 30, 2024. The company is forecasted to report an EPS of $0.65, showcasing a 14.04% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $13.81 billion, indicating a 29.65% growth compared to the corresponding quarter of the prior 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.
It is also important to note the recent changes to analyst estimates for Enterprise Products Partners. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.44% decrease. Enterprise Products Partners presently features a Zacks Rank of #3 (Hold).
Investors should also note Enterprise Products Partners's current valuation metrics, including its Forward P/E ratio of 11.04. Its industry sports an average Forward P/E of 12.44, so one might conclude that Enterprise Products Partners is trading at a discount comparatively.
We can also see that EPD currently has a PEG ratio of 1.4. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Production Pipeline - MLB industry currently had an average PEG ratio of 1.4 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 10, this industry ranks in the top 4% of all industries, numbering over 250.
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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Enterprise Products Partners (EPD) Stock Moves -0.97%: What You Should Know
The latest trading session saw Enterprise Products Partners (EPD - Free Report) ending at $29.70, denoting a -0.97% adjustment from its last day's close. This change was narrower than the S&P 500's daily loss of 2.32%. At the same time, the Dow lost 1.25%, and the tech-heavy Nasdaq lost 3.64%.
The the stock of provider of midstream energy services has risen by 2.99% in the past month, leading the Oils-Energy sector's loss of 8.99% and the S&P 500's gain of 1.79%.
The investment community will be paying close attention to the earnings performance of Enterprise Products Partners in its upcoming release. The company is slated to reveal its earnings on July 30, 2024. The company is forecasted to report an EPS of $0.65, showcasing a 14.04% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $13.81 billion, indicating a 29.65% growth compared to the corresponding quarter of the prior 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.
It is also important to note the recent changes to analyst estimates for Enterprise Products Partners. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.44% decrease. Enterprise Products Partners presently features a Zacks Rank of #3 (Hold).
Investors should also note Enterprise Products Partners's current valuation metrics, including its Forward P/E ratio of 11.04. Its industry sports an average Forward P/E of 12.44, so one might conclude that Enterprise Products Partners is trading at a discount comparatively.
We can also see that EPD currently has a PEG ratio of 1.4. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Production Pipeline - MLB industry currently had an average PEG ratio of 1.4 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 10, this industry ranks in the top 4% of all industries, numbering over 250.
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.