Enterprise Products Partners (EPD) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Enterprise Products Partners (EPD) closed at $22.74, marking a +1.47% move from the previous day. This change outpaced the S&P 500's 0.23% gain on the day. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq gained 0.43%.
Heading into today, shares of the provider of midstream energy services had gained 4.04% over the past month, lagging the Oils-Energy sector's gain of 8.65% and outpacing the S&P 500's gain of 3.86% in that time.
Investors will be hoping for strength from EPD as it approaches its next earnings release. In that report, analysts expect EPD to post earnings of $0.51 per share. This would mark a year-over-year decline of 5.56%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.70 billion, down 16.35% from the year-ago period.
Investors should also note any recent changes to analyst estimates for EPD. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 0.3% higher. EPD currently has a Zacks Rank of #3 (Hold).
Digging into valuation, EPD currently has a Forward P/E ratio of 11.24. This represents a premium compared to its industry's average Forward P/E of 8.35.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 229, which puts it in the bottom 11% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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