Energy Transfer LP (ET) closed the most recent trading day at $13.04, moving -0.5% from the previous trading session. This change lagged the S&P 500's 0% on the day. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the energy-related services provider had gained 10.7% over the past month, outpacing the Oils-Energy sector's gain of 6.19% and the S&P 500's gain of 3.37% in that time.
Investors will be hoping for strength from ET as it approaches its next earnings release. In that report, analysts expect ET to post earnings of $0.34 per share. This would mark year-over-year growth of 30.77%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.56 billion, down 0.11% from the year-ago period.
ET's full-year Zacks Consensus Estimates are calling for earnings of $1.34 per share and revenue of $54.05 billion. These results would represent year-over-year changes of +16.52% and -0.07%, respectively.
Investors might also notice recent changes to analyst estimates for ET. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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. Within the past 30 days, our consensus EPS projection has moved 0.67% lower. ET is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that ET has a Forward P/E ratio of 9.78 right now. For comparison, its industry has an average Forward P/E of 11.6, which means ET is trading at a discount to the group.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 25, which puts it in the top 10% 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 Zacks.com.
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