Energy Transfer LP (ET) closed the most recent trading day at $5.52, moving -0.72% from the previous trading session. This change lagged the S&P 500's daily gain of 0.3%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq added 0.37%.
Prior to today's trading, shares of the energy-related services provider had lost 13.93% over the past month. This has lagged the Oils-Energy sector's loss of 12.48% and the S&P 500's loss of 5.02% in that time.
Investors will be hoping for strength from ET as it approaches its next earnings release. The company is expected to report EPS of $0.22, down 40.54% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $11.05 billion, down 18.15% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.23 per share and revenue of $40.76 billion, which would represent changes of -83.09% and -24.82%, respectively, from the prior year.
Any recent changes to analyst estimates for ET should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 11.18% lower. ET currently has a Zacks Rank of #4 (Sell).
Investors should also note ET's current valuation metrics, including its Forward P/E ratio of 23.76. This valuation marks a premium compared to its industry's average Forward P/E of 6.62.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 216, putting it in the bottom 15% 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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