U.S. markets closed
  • S&P Futures

    3,602.50
    +1.00 (+0.03%)
     
  • Dow Futures

    28,855.00
    +54.00 (+0.19%)
     
  • Nasdaq Futures

    11,012.25
    -23.25 (-0.21%)
     
  • Russell 2000 Futures

    1,672.50
    +2.70 (+0.16%)
     
  • Crude Oil

    82.03
    +2.54 (+3.20%)
     
  • Gold

    1,672.40
    +0.40 (+0.02%)
     
  • Silver

    19.10
    +0.07 (+0.35%)
     
  • EUR/USD

    0.9801
    0.0000 (-0.00%)
     
  • 10-Yr Bond

    3.8040
    +0.0570 (+1.52%)
     
  • Vix

    31.62
    -0.22 (-0.69%)
     
  • GBP/USD

    1.1145
    -0.0021 (-0.19%)
     
  • USD/JPY

    144.8540
    +0.1250 (+0.09%)
     
  • BTC-USD

    18,977.45
    -332.37 (-1.72%)
     
  • CMC Crypto 200

    443.49
    +0.06 (+0.01%)
     
  • FTSE 100

    6,893.81
    +12.22 (+0.18%)
     
  • Nikkei 225

    25,937.21
    -484.89 (-1.84%)
     

Energy Transfer LP (ET) Outpaces Stock Market Gains: What You Should Know

·3 min read

Energy Transfer LP (ET) closed the most recent trading day at $11.58, moving +0.96% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.66%. Meanwhile, the Dow gained 0.61%, and the Nasdaq, a tech-heavy index, added 0.05%.

Prior to today's trading, shares of the energy-related services provider had gained 1.77% over the past month. This has lagged the Oils-Energy sector's gain of 4.6% and outpaced the S&P 500's loss of 3.79% in that time.

Wall Street will be looking for positivity from Energy Transfer LP as it approaches its next earnings report date. On that day, Energy Transfer LP is projected to report earnings of $0.29 per share, which would represent year-over-year growth of 45%. Our most recent consensus estimate is calling for quarterly revenue of $24.47 billion, up 46.83% from the year-ago period.

ET's full-year Zacks Consensus Estimates are calling for earnings of $1.38 per share and revenue of $96.01 billion. These results would represent year-over-year changes of -26.98% and +42.41%, respectively.

It is also important to note the recent changes to analyst estimates for Energy Transfer LP. 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. 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 remained stagnant. Energy Transfer LP currently has a Zacks Rank of #3 (Hold).

Investors should also note Energy Transfer LP's current valuation metrics, including its Forward P/E ratio of 8.31. Its industry sports an average Forward P/E of 11.06, 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 industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Energy Transfer LP (ET) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research