Enterprise Products Partners (EPD) closed at $28.12 in the latest trading session, marking a +0.97% move from the prior day. This change outpaced the S&P 500's 0.04% loss on the day. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq gained 0.05%.
Prior to today's trading, shares of the provider of midstream energy services had gained 10.74% over the past month. This has outpaced the Oils-Energy sector's gain of 1.63% and the S&P 500's gain of 2.48% in that time.
EPD will be looking to display strength as it nears its next earnings release. On that day, EPD is projected to report earnings of $0.55 per share, which would represent a year-over-year decline of 6.78%. Our most recent consensus estimate is calling for quarterly revenue of $8.01 billion, down 12.73% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.14 per share and revenue of $32.64 billion, which would represent changes of +12.04% and -10.66%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for EPD. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.18% higher. EPD currently has a Zacks Rank of #3 (Hold).
Investors should also note EPD's current valuation metrics, including its Forward P/E ratio of 13.01. This valuation marks a premium compared to its industry's average Forward P/E of 11.33.
Investors should also note that EPD has a PEG ratio of 3.25 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 3.12 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 42, putting it in the top 17% 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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