In the latest trading session, Enterprise Products Partners (EPD) closed at $28.72, marking a +0.07% move from the previous day. This move outpaced the S&P 500's daily loss of 0.28%. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq lost 0.03%.
Prior to today's trading, shares of the provider of midstream energy services had gained 7.41% over the past month. This has lagged the Oils-Energy sector's gain of 7.72% and outpaced the S&P 500's gain of 3.31% in that time.
Wall Street will be looking for positivity from EPD as it approaches its next earnings report date. This is expected to be January 30, 2020. On that day, EPD is projected to report earnings of $0.54 per share, which would represent a year-over-year decline of 8.47%. Our most recent consensus estimate is calling for quarterly revenue of $8.01 billion, down 12.73% from the year-ago period.
Any recent changes to analyst estimates for EPD should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. EPD is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that EPD has a Forward P/E ratio of 13.02 right now. Its industry sports an average Forward P/E of 11.15, so we one might conclude that EPD is trading at a premium comparatively.
Meanwhile, EPD's PEG ratio is currently 3.25. 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 industry currently had an average PEG ratio of 3.25 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% 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.