Energy Transfer LP (ET) Stock Sinks As Market Gains: What You Should Know
Energy Transfer LP (ET) closed the most recent trading day at $11.68, moving -0.68% from the previous trading session. This change lagged the S&P 500's daily gain of 0.3%. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq gained 0.34%.
Prior to today's trading, shares of the energy-related services provider had lost 9.54% over the past month. This has lagged the Oils-Energy sector's loss of 5.47% and the S&P 500's loss of 1.21% in that time.
Investors will be hoping for strength from Energy Transfer LP as it approaches its next earnings release. In that report, analysts expect Energy Transfer LP to post earnings of $0.37 per share. This would mark no growth from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $25.61 billion, up 24.97% from the prior-year quarter.
ET's full-year Zacks Consensus Estimates are calling for earnings of $1.43 per share and revenue of $103.55 billion. These results would represent year-over-year changes of +1.42% and +15.22%, respectively.
Investors should also note any recent changes to analyst estimates for Energy Transfer LP. These recent revisions tend to reflect the evolving nature of short-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 0.97% lower. Energy Transfer LP is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Energy Transfer LP has a Forward P/E ratio of 8.25 right now. Its industry sports an average Forward P/E of 10.56, 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 group has a Zacks Industry Rank of 156, putting it in the bottom 39% 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.
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