Energy Transfer LP (ET) closed at $13.04 in the latest trading session, marking a -0.5% move from the prior day. This move lagged the S&P 500's daily gain of 1%.
Heading into today, shares of the energy-related services provider had lost 7.15% over the past month, lagging the Oils-Energy sector's loss of 2.49% and the S&P 500's loss of 1.22% in that time.
Wall Street will be looking for positivity from ET as it approaches its next earnings report date. The company is expected to report EPS of $0.37, up 15.63% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $14.30 billion, down 1.48% from the prior-year quarter.
ET's full-year Zacks Consensus Estimates are calling for earnings of $1.37 per share and revenue of $55.65 billion. These results would represent year-over-year changes of +19.13% and +2.88%, respectively.
Investors should also note any 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. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.4% higher within the past month. ET is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that ET has a Forward P/E ratio of 9.1 right now. This represents a discount compared to its industry's average Forward P/E of 11.42.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 39, which puts it in the top 16% 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.
To follow ET in the coming trading sessions, be sure to utilize Zacks.com.
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