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Energy Transfer LP (ET) Gains But Lags Market: What You Should Know

Zacks Equity Research
·3-min read

In the latest trading session, Energy Transfer LP (ET) closed at $5.56, marking a +1.65% move from the previous day. This change lagged the S&P 500's 7.03% gain on the day. Meanwhile, the Dow gained 7.73%, and the Nasdaq, a tech-heavy index, added 7.33%.

Prior to today's trading, shares of the energy-related services provider had lost 51.38% over the past month. This has lagged the Oils-Energy sector's loss of 29.31% and the S&P 500's loss of 16.9% in that time.

Investors will be hoping for strength from ET as it approaches its next earnings release, which is expected to be May 11, 2020. In that report, analysts expect ET to post earnings of $0.32 per share. This would mark a year-over-year decline of 13.51%. Meanwhile, our latest consensus estimate is calling for revenue of $13.99 billion, up 6.6% from the prior-year quarter.

ET's full-year Zacks Consensus Estimates are calling for earnings of $1.30 per share and revenue of $58.25 billion. These results would represent year-over-year changes of -4.41% and +7.45%, respectively.

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It is also important to note the recent changes to analyst estimates for ET. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

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. Within the past 30 days, our consensus EPS projection has moved 4.88% lower. ET currently has a Zacks Rank of #3 (Hold).

Looking at its valuation, ET is holding a Forward P/E ratio of 4.21. For comparison, its industry has an average Forward P/E of 4.76, which means ET is trading at a discount to the group.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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Energy Transfer LP (ET) : Free Stock Analysis Report
 
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