Energy Transfer Partners (ETP) Crumbles: Stock Falls by 6.4% - Tale of the Tape
Energy Transfer Partners, L.P. (ETP) saw a big move last session, as the partnerships’ unit fell by over 6% on the day. The move came on pretty good volume too with far more units changing hands than in a normal session. This stock, trading at a volatile range of $59.47–$63.69 in the past one-month time frame, showed a sharp decline yesterday at $61.13.
On Jan 26, Energy Transfer announced a merger with Regency Energy Partners LP (RGP) in a unit-for-unit transaction. Perhaps, this merger was not taken positively by the market and the unit price of ETP showed a downward movement.
This slump shouldn’t be too much of a surprise to investors, as the oil and gas pipeline partnership has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
ETP currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
A better-ranked stock in the oil and gas pipeline industry is Spectra Energy Partners, LP (SEP), which currently carries a Zacks Rank #1 (Strong Buy).
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ENERGY TRAN PTR (ETP): Free Stock Analysis Report
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