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Energy Transfer LP (ET) Dips More Than Broader Markets: What You Should Know

In the latest trading session, Energy Transfer LP (ET) closed at $13.10, marking a -1.95% move from the previous day. This change lagged the S&P 500's 1.3% loss on the day. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, lost 5.51%.

Heading into today, shares of the energy-related services provider had gained 12.55% over the past month, outpacing the Oils-Energy sector's gain of 2.85% and the S&P 500's gain of 6.41% in that time.

Energy Transfer LP will be looking to display strength as it nears its next earnings release, which is expected to be February 15, 2023. On that day, Energy Transfer LP is projected to report earnings of $0.37 per share, which would represent year-over-year growth of 27.59%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $27.43 billion, up 47.02% from the year-ago period.

Investors might also notice recent changes to analyst estimates for Energy Transfer LP. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 11.28% higher. Energy Transfer LP is holding a Zacks Rank of #1 (Strong Buy) right now.

Digging into valuation, Energy Transfer LP currently has a Forward P/E ratio of 9.34. Its industry sports an average Forward P/E of 10.79, so we one might conclude that Energy Transfer LP 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 207, putting it in the bottom 18% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

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Energy Transfer LP (ET) : Free Stock Analysis Report

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