Energy Transfer LP (ET) Stock Moves -0.14%: What You Should Know
Energy Transfer LP (ET) closed the most recent trading day at $14.31, moving -0.14% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.32% for the day. Elsewhere, the Dow lost 0.71%, while the tech-heavy Nasdaq lost 0.2%.
Shares of the energy-related services provider have appreciated by 2.72% over the course of the past month, outperforming the Oils-Energy sector's loss of 2.12% and lagging the S&P 500's gain of 4.59%.
The investment community will be paying close attention to the earnings performance of Energy Transfer LP in its upcoming release. The company is slated to reveal its earnings on February 14, 2024. The company is expected to report EPS of $0.29, down 14.71% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $23.59 billion, up 15.04% from the year-ago period.
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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 5.17% rise in the Zacks Consensus EPS estimate. Energy Transfer LP is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, Energy Transfer LP currently has a Forward P/E ratio of 11.75. This represents a discount compared to its industry's average Forward P/E of 12.23.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 53, finds itself in the top 22% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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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Energy Transfer LP (ET) : Free Stock Analysis Report
