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Energy Transfer LP (ET) closed the most recent trading day at $12.26, moving -0.41% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.08%. Meanwhile, the Dow lost 0.81%, and the Nasdaq, a tech-heavy index, added 0.22%.
Heading into today, shares of the energy-related services provider had gained 15.15% over the past month, outpacing the Oils-Energy sector's gain of 10.73% and the S&P 500's gain of 1.03% in that time.
Wall Street will be looking for positivity from Energy Transfer LP as it approaches its next earnings report date. In that report, analysts expect Energy Transfer LP to post earnings of $0.27 per share. This would mark year-over-year growth of 35%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $22.08 billion, up 46.2% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.25 per share and revenue of $87.74 billion, which would represent changes of -33.86% and +30.15%, respectively, from the prior year.
Any recent changes to analyst estimates for Energy Transfer LP should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.04% 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 9.88 right now. Its industry sports an average Forward P/E of 12.2, 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 30, putting it in the top 12% 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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