Energy Transfer LP (ET) closed the most recent trading day at $11.86, moving -0.59% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.71%. At the same time, the Dow lost 1.7%, and the tech-heavy Nasdaq lost 0.18%.
Coming into today, shares of the energy-related services provider had lost 2.05% in the past month. In that same time, the Oils-Energy sector lost 2.7%, while the S&P 500 lost 8.68%.
Energy Transfer LP will be looking to display strength as it nears its next earnings release. On that day, Energy Transfer LP is projected to report earnings of $0.29 per share, which would represent year-over-year growth of 45%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $24.47 billion, up 46.83% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.38 per share and revenue of $96.01 billion. These totals would mark changes of -26.98% and +42.41%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Energy Transfer LP. These recent revisions tend to reflect the evolving nature of short-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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Energy Transfer LP currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Energy Transfer LP is currently trading at a Forward P/E ratio of 8.64. Its industry sports an average Forward P/E of 11.25, so we one might conclude that Energy Transfer LP 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 95, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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