Energy Transfer LP (ET) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Energy Transfer LP (ET) closed at $14.19, marking a +0.64% move from the previous day. This change outpaced the S&P 500's 0.29% gain on the day. Meanwhile, the Dow gained 0.26%, and the Nasdaq, a tech-heavy index, added 0.22%.
Prior to today's trading, shares of the energy-related services provider had gained 0.43% over the past month. This has lagged the Oils-Energy sector's gain of 7.04% and the S&P 500's gain of 7.86% in that time.
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 $0.37 per share. This would mark year-over-year growth of 12.12%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.75 billion, up 4.47% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.37 per share and revenue of $57.58 billion, which would represent changes of +19.13% and +6.46%, respectively, from the prior year.
Investors might also notice 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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% higher. ET is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, ET is holding a Forward P/E ratio of 10.33. This valuation marks a discount compared to its industry's average Forward P/E of 12.23.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 105, putting it in the top 42% 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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