Energy Transfer Equity, L.P. (ETE) is an oil/ gas company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on ETE’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Energy Transfer Equity could be a solid choice for investors.
Current Quarter Estimates for ETE
In the past 30 days, 1 estimate has gone higher for Energy Transfer Equity with no downward revision in the same time period. The trend has been pretty favorable too, with estimates increasing from 28 cents per share 30 days ago, to 32 cents a share today, a move of 14.3%.
Current Year Estimates for ETE
Meanwhile, Energy Transfer Equity’s current year figures have seen 2 estimates moving higher in the past month, compared to no downward revision. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.14 per share 30 days ago to $1.33 per share today, an increase of 16.7%.
The stock has also started to move higher lately, adding 6.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
ENERGY TRANSFER EQUITY LP (ETE): Free Stock Analysis Report
Zacks Investment Research
- Oil, Gas, & Consumable Fuels
- Personal Investing Ideas & Strategies
- Energy Transfer Equity