Energy Transfer (ET) to Report Q3 Earnings: What's in Store?
Energy Transfer LP ET is scheduled to release third-quarter 2019 results on Nov 6, after market close. This natural gas pipeline operator delivered a negative earnings surprise of 8.33% in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors at Play
The projects completed by the company in the first nine months of 2019 are likely to have aided third-quarter earnings. Energy Transfer’s diverse income sources, which are predominantly fee-based businesses, provide earnings visibility. J.C. Nolan Pipeline started commercial operations during the quarter. This is anticipated to have boosted revenues of the firm.
The Zacks Consensus Estimate for third-quarter total revenues and earnings per share is pegged at $14.3 billion and 38 cents, respectively. The revenue projection indicates a decline of 1.48% from the year-ago reported figure. Nonetheless, the earnings expectation suggests growth of 18.75% from the prior-year quarter.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Energy Transfer this season. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates. That is not the case here as you will see below.
Earnings ESP: The firm’s Earnings ESP is +3.41%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Energy Transfer carries a Zacks Rank #4 (Sell).
Energy Transfer LP Price and EPS Surprise
Energy Transfer LP price-eps-surprise | Energy Transfer LP Quote
Stocks to Consider
Investors can consider the following players from the same sector that have the right combination of elements to post an earnings beat in the to-be-reported quarter.
Rattler Midstream LP RTLR is slated to release third-quarter 2019 numbers on Nov 5. It has an Earnings ESP of +8.41% and carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Plains All American Pipeline LP PAA is scheduled to release third-quarter 2019 numbers on Nov 5. It has an Earnings ESP of +0.42% and carries a Zacks Rank #3.
CSI Compressco LP CCLP is set to release third-quarter 2019 results on Nov 6. It has an Earnings ESP of +72.73% and holds a Zacks Rank #3.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>
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
Plains All American Pipeline, L.P. (PAA) : Free Stock Analysis Report
CSI Compressco LP (CCLP) : Free Stock Analysis Report
Rattler Midstream LP (RTLR) : Free Stock Analysis Report
Energy Transfer LP (ET) : Free Stock Analysis Report
To read this article on Zacks.com click here.
