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Enterprise Products Partners (EPD) closed at $28.37 in the latest trading session, marking a -0.35% move from the prior day. This change was narrower than the S&P 500's 1.08% loss on the day. Meanwhile, the Dow lost 0.81%, and the Nasdaq, a tech-heavy index, added 0.22%.
Prior to today's trading, shares of the provider of midstream energy services had gained 9.67% over the past month. This has lagged the Oils-Energy sector's gain of 10.73% and outpaced the S&P 500's gain of 1.03% in that time.
Enterprise Products Partners will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.60, up 17.65% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $12.25 billion, up 29.66% from the year-ago period.
EPD's full-year Zacks Consensus Estimates are calling for earnings of $2.40 per share and revenue of $48.92 billion. These results would represent year-over-year changes of +14.29% and +19.88%, respectively.
Investors should also note any recent changes to analyst estimates for Enterprise Products Partners. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. The Zacks Consensus EPS estimate has moved 2.46% higher within the past month. Enterprise Products Partners is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Enterprise Products Partners is currently trading at a Forward P/E ratio of 11.89. Its industry sports an average Forward P/E of 12.2, so we one might conclude that Enterprise Products Partners is trading at a discount comparatively.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 30, which puts it in the top 12% 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.
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