Enterprise Products Partners (EPD) Gains As Market Dips: What You Should Know
Enterprise Products Partners (EPD) closed the most recent trading day at $26.07, moving +1.16% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.63%. Meanwhile, the Dow lost 0.19%, and the Nasdaq, a tech-heavy index, lost 0.34%.
Heading into today, shares of the provider of midstream energy services had gained 4.63% over the past month, lagging the Oils-Energy sector's gain of 8.16% and the S&P 500's gain of 6.02% in that time.
Investors will be hoping for strength from Enterprise Products Partners as it approaches its next earnings release. The company is expected to report EPS of $0.52, down 18.75% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.61 billion, up 15.85% from the year-ago period.
EPD's full-year Zacks Consensus Estimates are calling for earnings of $2.23 per share and revenue of $44.59 billion. These results would represent year-over-year changes of +6.19% and +9.28%, respectively.
Any recent changes to analyst estimates for Enterprise Products Partners 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 0.56% higher. Enterprise Products Partners currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Enterprise Products Partners is currently trading at a Forward P/E ratio of 11.55. For comparison, its industry has an average Forward P/E of 11.16, which means Enterprise Products Partners is trading at a premium 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 79, which puts it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow EPD in the coming trading sessions, be sure to utilize 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.
