Energy Transfer LP (ET) closed at $9.88 in the latest trading session, marking a -1.4% move from the prior day. This move lagged the S&P 500's daily gain of 0.16%. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq gained 0.49%.
Coming into today, shares of the energy-related services provider had lost 15.51% in the past month. In that same time, the Oils-Energy sector lost 15.81%, while the S&P 500 lost 6.79%.
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 $0.27 per share, which would represent year-over-year growth of 35%. Our most recent consensus estimate is calling for quarterly revenue of $22.08 billion, up 46.2% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.25 per share and revenue of $87.74 billion. These totals would mark changes of -33.86% and +30.15%, respectively, from last year.
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.
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 remained stagnant. Energy Transfer LP is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Energy Transfer LP currently has a Forward P/E ratio of 8.04. Its industry sports an average Forward P/E of 10.46, 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 62, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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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