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Energy Transfer LP (ET) Outpaces Stock Market Gains: What You Should Know

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Zacks Equity Research
·2-min read
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Energy Transfer LP (ET) closed the most recent trading day at $6.44, moving +1.58% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.05%. At the same time, the Dow added 1.44%, and the tech-heavy Nasdaq gained 0.66%.

Coming into today, shares of the energy-related services provider had lost 19.03% in the past month. In that same time, the Oils-Energy sector lost 16.09%, while the S&P 500 lost 1.56%.

ET will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.27, down 18.18% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $11.85 billion, down 14.63% from the year-ago period.

ET's full-year Zacks Consensus Estimates are calling for earnings of $0.58 per share and revenue of $50.70 billion. These results would represent year-over-year changes of -57.35% and -6.48%, respectively.

Investors might also notice recent changes to analyst estimates for ET. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.71% lower. ET is currently sporting a Zacks Rank of #3 (Hold).

Digging into valuation, ET currently has a Forward P/E ratio of 10.86. This valuation marks a premium compared to its industry's average Forward P/E of 8.33.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 44, which puts it in the top 18% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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