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Why the Market Dipped But Enterprise Products Partners (EPD) Gained Today
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Enterprise Products Partners (EPD - Free Report) closed the latest trading day at $29.31, indicating a +0.69% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 0.93% for the day. At the same time, the Dow lost 0.41%, and the tech-heavy Nasdaq lost 1.53%.
Shares of the provider of midstream energy services witnessed a loss of 0.78% over the previous month, beating the performance of the Oils-Energy sector with its loss of 2.51% and underperforming the S&P 500's gain of 2.17%.
Investors will be eagerly watching for the performance of Enterprise Products Partners in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.68, indicating a 13.33% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $13.78 billion, indicating a 14.89% increase compared to the same quarter of the previous year.
EPD's full-year Zacks Consensus Estimates are calling for earnings of $2.71 per share and revenue of $56.37 billion. These results would represent year-over-year changes of +7.11% and +13.38%, respectively.
It is also important to note the recent changes to analyst estimates for Enterprise Products Partners. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.15% lower within the past month. Currently, Enterprise Products Partners is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Enterprise Products Partners is presently trading at a Forward P/E ratio of 10.73. For comparison, its industry has an average Forward P/E of 12.82, which means Enterprise Products Partners is trading at a discount to the group.
Meanwhile, EPD's PEG ratio is currently 1.49. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Oil and Gas - Production Pipeline - MLB industry was having an average PEG ratio of 1.49.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 160, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Why the Market Dipped But Enterprise Products Partners (EPD) Gained Today
Enterprise Products Partners (EPD - Free Report) closed the latest trading day at $29.31, indicating a +0.69% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 0.93% for the day. At the same time, the Dow lost 0.41%, and the tech-heavy Nasdaq lost 1.53%.
Shares of the provider of midstream energy services witnessed a loss of 0.78% over the previous month, beating the performance of the Oils-Energy sector with its loss of 2.51% and underperforming the S&P 500's gain of 2.17%.
Investors will be eagerly watching for the performance of Enterprise Products Partners in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.68, indicating a 13.33% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $13.78 billion, indicating a 14.89% increase compared to the same quarter of the previous year.
EPD's full-year Zacks Consensus Estimates are calling for earnings of $2.71 per share and revenue of $56.37 billion. These results would represent year-over-year changes of +7.11% and +13.38%, respectively.
It is also important to note the recent changes to analyst estimates for Enterprise Products Partners. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.15% lower within the past month. Currently, Enterprise Products Partners is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Enterprise Products Partners is presently trading at a Forward P/E ratio of 10.73. For comparison, its industry has an average Forward P/E of 12.82, which means Enterprise Products Partners is trading at a discount to the group.
Meanwhile, EPD's PEG ratio is currently 1.49. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Oil and Gas - Production Pipeline - MLB industry was having an average PEG ratio of 1.49.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 160, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.