In the latest trading session, Energy Transfer LP (ET) closed at $13.27, marking no change from the previous day. This change lagged the S&P 500's 0.62% gain on the day. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 1.05%.
Coming into today, shares of the energy-related services provider had gained 1.92% in the past month. In that same time, the Oils-Energy sector gained 8.54%, while the S&P 500 gained 3.85%.
ET will be looking to display strength as it nears its next earnings release. In that report, analysts expect ET to post earnings of $0.36 per share. This would mark year-over-year growth of 12.5%. Meanwhile, our latest consensus estimate is calling for revenue of $14.28 billion, down 1.59% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.34 per share and revenue of $55.68 billion. These totals would mark changes of +16.52% and +2.95%, respectively, from last year.
Any recent changes to analyst estimates for ET should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 1.8% lower. ET is currently a Zacks Rank #3 (Hold).
In terms of valuation, ET is currently trading at a Forward P/E ratio of 9.93. This represents a discount compared to its industry's average Forward P/E of 11.94.
Also, we should mention that ET has a PEG ratio of 0.6. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ET's industry had an average PEG ratio of 3.28 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 17% 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.
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