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

Energy Transfer LP (ET) closed at $12.69 in the latest trading session, marking a -0.63% move from the prior day. This move lagged the S&P 500's daily gain of 0.09%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq lost 4.87%.

Prior to today's trading, shares of the energy-related services provider had gained 9.15% over the past month. This has outpaced the Oils-Energy sector's gain of 5.13% and the S&P 500's gain of 3.31% in that time.

Energy Transfer LP will be looking to display strength as it nears its next earnings release, which is expected to be May 2, 2023. On that day, Energy Transfer LP is projected to report earnings of $0.35 per share, which would represent a year-over-year decline of 5.41%. Meanwhile, our latest consensus estimate is calling for revenue of $25.68 billion, up 25.31% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.39 per share and revenue of $104.69 billion. These totals would mark changes of -1.42% and +16.48%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for Energy Transfer LP. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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 2.66% lower within the past month. Energy Transfer LP is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, Energy Transfer LP is holding a Forward P/E ratio of 9.2. For comparison, its industry has an average Forward P/E of 11.16, which means Energy Transfer LP 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 163, putting it in the bottom 36% 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.

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

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