Yahoo Finance Energy Transfer LP (ET) Stock Sinks As Market Gains: Here's Why
In the latest trading session, Energy Transfer LP (ET) closed at $15.92, marking a -0.5% move from the previous day. This change lagged the S&P 500's 0.16% gain on the day. At the same time, the Dow added 0.04%, and the tech-heavy Nasdaq gained 0.49%.
Shares of the energy-related services provider have appreciated by 3.29% over the course of the past month, outperforming the Oils-Energy sector's loss of 0.71% and the S&P 500's gain of 3.22%.
The investment community will be paying close attention to the earnings performance of Energy Transfer LP in its upcoming release. The company's upcoming EPS is projected at $0.35, signifying a 40% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $24.61 billion, reflecting a 34.34% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.45 per share and a revenue of $97.64 billion, representing changes of +33.03% and +24.24%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Energy Transfer LP. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.14% decrease. As of now, Energy Transfer LP holds a Zacks Rank of #3 (Hold).
Looking at valuation, Energy Transfer LP is presently trading at a Forward P/E ratio of 11.05. This represents a discount compared to its industry's average Forward P/E of 12.19.
Meanwhile, ET's PEG ratio is currently 0.44. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Oil and Gas - Production Pipeline - MLB industry held an average PEG ratio of 1.35.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 99, finds itself in the top 40% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Energy Transfer LP (ET) : Free Stock Analysis Report
