Energy Transfer LP (ET) closed at $14.37 in the latest trading session, marking a -0.28% move from the prior day. This move lagged the S&P 500's daily loss of 0.26%. Meanwhile, the Dow lost 0.09%, and the Nasdaq, a tech-heavy index, lost 0.24%.
Prior to today's trading, shares of the energy-related services provider had gained 2.2% over the past month. This has outpaced the Oils-Energy sector's loss of 3.49% and lagged the S&P 500's gain of 2.87% in that time.
Investors will be hoping for strength from ET as it approaches its next earnings release, which is expected to be August 7, 2019. The company is expected to report EPS of $0.36, up 9.09% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $14.32 billion, up 1.44% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.32 per share and revenue of $55.61 billion. These totals would mark changes of +14.78% and +2.82%, respectively, from last year.
Any recent changes to analyst estimates for ET should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 0.15% lower within the past month. ET currently has a Zacks Rank of #3 (Hold).
In terms of valuation, ET is currently trading at a Forward P/E ratio of 10.9. Its industry sports an average Forward P/E of 13.29, so we one might conclude that ET is trading at a discount comparatively.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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 LP (ET) : Free Stock Analysis Report
To read this article on Zacks.com click here.