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Energy Transfer LP (ET) Flat As Market Gains: What You Should Know

Zacks Equity Research
·3 mins read

Energy Transfer LP (ET) closed the most recent trading day at $5.42, making no change from the previous trading session. This move lagged the S&P 500's daily gain of 0.53%. Elsewhere, the Dow gained 0.13%, while the tech-heavy Nasdaq added 1.42%.

Coming into today, shares of the energy-related services provider had lost 13.97% in the past month. In that same time, the Oils-Energy sector lost 12.25%, while the S&P 500 lost 3.76%.

Wall Street will be looking for positivity from ET as it approaches its next earnings report date. On that day, ET is projected to report earnings of $0.23 per share, which would represent a year-over-year decline of 37.84%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.05 billion, down 18.15% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.23 per share and revenue of $40.77 billion. These totals would mark changes of -83.09% and -24.8%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for ET. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.

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 remained stagnant. ET currently has a Zacks Rank of #4 (Sell).

Looking at its valuation, ET is holding a Forward P/E ratio of 23.16. For comparison, its industry has an average Forward P/E of 6.75, which means ET is trading at a premium to the group.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 219, putting it in the bottom 14% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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Zacks Investment Research