Yahoo Finance Energy Transfer LP (ET) Stock Drops Despite Market Gains: Important Facts to Note
Energy Transfer LP (ET) closed at $15.30 in the latest trading session, marking a -1.16% move from the prior day. This change lagged the S&P 500's daily gain of 0.23%. At the same time, the Dow lost 0.17%, and the tech-heavy Nasdaq gained 0.34%.
The energy-related services provider's stock has dropped by 2.58% in the past month, exceeding the Oils-Energy sector's loss of 4.97% and lagging the S&P 500's gain of 3.96%.
The investment community will be paying close attention to the earnings performance of Energy Transfer LP in its upcoming release. The company is predicted to post an EPS of $0.35, indicating a 40% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $24.61 billion, showing a 34.34% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.43 per share and revenue of $97.64 billion, which would represent changes of +31.19% and +24.24%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Energy Transfer LP. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 past month, the Zacks Consensus EPS estimate has shifted 6.73% downward. At present, Energy Transfer LP boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Energy Transfer LP has a Forward P/E ratio of 10.8 right now. For comparison, its industry has an average Forward P/E of 11.94, which means Energy Transfer LP is trading at a discount to the group.
It's also important to note that ET currently trades at a PEG ratio of 0.43. 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 1.32.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Energy Transfer LP (ET) : Free Stock Analysis Report
