In the latest trading session, Enterprise Products Partners (EPD) closed at $18.04, marking a +1.29% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.34%. Elsewhere, the Dow lost 0.5%, while the tech-heavy Nasdaq lost 0.73%.
Coming into today, shares of the provider of midstream energy services had lost 8.43% in the past month. In that same time, the Oils-Energy sector lost 1.56%, while the S&P 500 gained 5.71%.
Wall Street will be looking for positivity from EPD as it approaches its next earnings report date. This is expected to be July 29, 2020. In that report, analysts expect EPD to post earnings of $0.45 per share. This would mark a year-over-year decline of 18.18%. Our most recent consensus estimate is calling for quarterly revenue of $6.83 billion, down 17.43% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.02 per share and revenue of $29.75 billion, which would represent changes of -6.05% and -9.28%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for EPD. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.25% higher. EPD is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note EPD's current valuation metrics, including its Forward P/E ratio of 8.81. For comparison, its industry has an average Forward P/E of 8.49, which means EPD is trading at a premium to the group.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 105, putting it in the top 42% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Enterprise Products Partners L.P. (EPD) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research