Energy Transfer LP (ET) closed the most recent trading day at $12.38, moving +1.56% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.17%. Meanwhile, the Dow 0%, and the Nasdaq, a tech-heavy index, added 0.11%.
Heading into today, shares of the energy-related services provider had lost 9.77% over the past month, outpacing the Oils-Energy sector's loss of 10.05% and lagging the S&P 500's gain of 2.78% in that time.
ET will be looking to display strength as it nears its next earnings release, which is expected to be February 19, 2020. The company is expected to report EPS of $0.34, up 30.77% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.52 billion, down 0.38% from the year-ago period.
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. 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 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. Within the past 30 days, our consensus EPS projection has moved 1.72% lower. ET is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note ET's current valuation metrics, including its Forward P/E ratio of 8.73. Its industry sports an average Forward P/E of 10.48, so we one might conclude that ET is trading at a discount comparatively.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 30% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.