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

Zacks Equity Research
·3 mins read

Energy Transfer LP (ET) closed the most recent trading day at $5.49, moving +1.86% from the previous trading session. This change outpaced the S&P 500's 1.74% gain on the day. At the same time, the Dow added 1.91%, and the tech-heavy Nasdaq gained 1.88%.

Coming into today, shares of the energy-related services provider had lost 10.91% in the past month. In that same time, the Oils-Energy sector lost 10.15%, while the S&P 500 lost 1.86%.

Wall Street will be looking for positivity from ET as it approaches its next earnings report date. In that report, analysts expect ET to post earnings of $0.22 per share. This would mark a year-over-year decline of 40.54%. Our most recent consensus estimate is calling for quarterly revenue of $11.05 billion, down 18.15% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $0.23 per share and revenue of $40.77 billion, which would represent changes of -83.09% and -24.8%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for ET. Recent revisions tend to reflect the latest near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. ET is currently a Zacks Rank #4 (Sell).

Digging into valuation, ET currently has a Forward P/E ratio of 23.03. Its industry sports an average Forward P/E of 6.96, so we one might conclude that ET is trading at a premium 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 209, which puts it in the bottom 18% 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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