Energy Transfer LP (ET) Falls More Steeply Than Broader Market: What Investors Need to Know
Energy Transfer LP (ET) closed at $13.77 in the latest trading session, marking a -0.94% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.56%. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw a decrease of 0.59%.
Shares of the energy-related services provider witnessed a gain of 0.22% over the previous month, beating the performance of the Oils-Energy sector with its loss of 2.83% and underperforming the S&P 500's gain of 1.2%.
The investment community will be paying close attention to the earnings performance of Energy Transfer LP in its upcoming release. The company is slated to reveal its earnings on February 14, 2024. The company is predicted to post an EPS of $0.28, indicating a 17.65% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $23.61 billion, indicating a 15.18% upward movement from the same quarter last year.
Investors should also note any recent changes to analyst estimates for Energy Transfer LP. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.34% upward. At present, Energy Transfer LP boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Energy Transfer LP is holding a Forward P/E ratio of 11.94. This signifies a discount in comparison to the average Forward P/E of 12.06 for its industry.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 105, finds itself in the top 42% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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
