Energy Transfer LP (ET) Dips More Than Broader Markets: What You Should Know
Energy Transfer LP (ET) closed at $15.41 in the latest trading session, marking a -0.96% move from the prior day. This change lagged the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq lost 0.23%.
Prior to today's trading, shares of the energy-related services provider had gained 1.83% over the past month. This has lagged the Oils-Energy sector's gain of 2.49% and the S&P 500's gain of 4.87% in that time.
Wall Street will be looking for positivity from ET as it approaches its next earnings report date. In that report, analysts expect ET to post earnings of $0.36 per share. This would mark a year-over-year decline of 14.29%. Meanwhile, our latest consensus estimate is calling for revenue of $13.97 billion, up 17.6% from the prior-year quarter.
ET's full-year Zacks Consensus Estimates are calling for earnings of $1.43 per share and revenue of $58.76 billion. These results would represent year-over-year changes of +24.35% and +8.64%, 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.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.92% higher within the past month. ET is currently a Zacks Rank #2 (Buy).
Looking at its valuation, ET is holding a Forward P/E ratio of 10.87. Its industry sports an average Forward P/E of 12.29, so we one might conclude that ET is trading at a discount comparatively.
It is also worth noting that ET currently has a PEG ratio of 0.44. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 2.96 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 68, which puts it in the top 27% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Energy Transfer LP (ET) : Free Stock Analysis Report
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