Enterprise Products Partners (EPD) Gains As Market Dips: What You Should Know
Enterprise Products Partners (EPD) closed the most recent trading day at $25.04, moving +0.24% from the previous trading session. This change outpaced the S&P 500's 1.15% loss on the day. Elsewhere, the Dow lost 0.52%, while the tech-heavy Nasdaq lost 0.34%.
Coming into today, shares of the provider of midstream energy services had lost 9.56% in the past month. In that same time, the Oils-Energy sector lost 19.33%, while the S&P 500 lost 5.08%.
Wall Street will be looking for positivity from Enterprise Products Partners as it approaches its next earnings report date. The company is expected to report EPS of $0.60, up 17.65% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $12.16 billion, up 28.66% from the prior-year quarter.
EPD's full-year Zacks Consensus Estimates are calling for earnings of $2.40 per share and revenue of $48.89 billion. These results would represent year-over-year changes of +14.29% and +19.8%, respectively.
It is also important to note the recent changes to analyst estimates for Enterprise Products Partners. These recent revisions tend to reflect the evolving nature of short-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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Enterprise Products Partners is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Enterprise Products Partners has a Forward P/E ratio of 10.42 right now. For comparison, its industry has an average Forward P/E of 10.53, which means Enterprise Products Partners is trading at a discount to the group.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 46, which puts it in the top 19% 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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