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

Energy Transfer LP (ET) closed the most recent trading day at $13.07, moving +0.46% from the previous trading session. This change outpaced the S&P 500's 0.07% loss on the day. At the same time, the Dow added 0.31%, and the tech-heavy Nasdaq lost 3.22%.

Coming into today, shares of the energy-related services provider had gained 8.78% in the past month. In that same time, the Oils-Energy sector gained 3.05%, while the S&P 500 gained 4.64%.

Wall Street will be looking for positivity from Energy Transfer LP as it approaches its next earnings report date. This is expected to be February 15, 2023. On that day, Energy Transfer LP is projected to report earnings of $0.33 per share, which would represent year-over-year growth of 13.79%. Meanwhile, our latest consensus estimate is calling for revenue of $27.46 billion, up 47.17% from the prior-year quarter.

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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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 4.75% higher. Energy Transfer LP currently has a Zacks Rank of #1 (Strong Buy).

Looking at its valuation, Energy Transfer LP is holding a Forward P/E ratio of 9.67. For comparison, its industry has an average Forward P/E of 10.63, which means Energy Transfer LP is trading at a discount to the group.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 183, which puts it in the bottom 28% 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.

To follow ET in the coming trading sessions, be sure to utilize Zacks.com.

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