Yahoo Finance Energy Transfer LP (ET) Stock Sinks As Market Gains: What You Should Know
Energy Transfer LP (ET) closed the most recent trading day at $8.06, moving -0.37% from the previous trading session. This change lagged the S&P 500's 0.06% gain on the day. At the same time, the Dow lost 0.15%, and the tech-heavy Nasdaq gained 0.33%.
Wall Street will be looking for positivity from ET as it approaches its next earnings report date. The company is expected to report EPS of $0.27, down 18.18% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $12.44 billion, down 10.35% from the prior-year quarter.
ET's full-year Zacks Consensus Estimates are calling for earnings of $0.59 per share and revenue of $51.96 billion. These results would represent year-over-year changes of -56.62% and -4.16%, respectively.
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 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 3.42% lower within the past month. ET is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, ET is holding a Forward P/E ratio of 13.67. This represents a premium compared to its industry's average Forward P/E of 9.65.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 59, putting it in the top 24% 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.
To follow ET in the coming trading sessions, be sure to utilize Zacks.com.
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