Enterprise Products Partners (EPD) Stock Moves -0.77%: What You Should Know
In the latest trading session, Enterprise Products Partners (EPD) closed at $24.37, marking a -0.77% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.88%. Elsewhere, the Dow lost 0.82%, while the tech-heavy Nasdaq added 0.08%.
Coming into today, shares of the provider of midstream energy services had lost 12.13% in the past month. In that same time, the Oils-Energy sector lost 14.09%, while the S&P 500 lost 8.06%.
Wall Street will be looking for positivity from Enterprise Products Partners as it approaches its next earnings report date. The company is expected to report EPS of $0.60, up 17.65% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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.
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 a result, we can interpret positive estimate revisions as a good sign for 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.
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 has moved 0.1% higher. Enterprise Products Partners is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Enterprise Products Partners has a Forward P/E ratio of 10.26 right now. This represents a discount compared to its industry's average Forward P/E of 10.33.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 36% 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.
Be sure to follow all of these stock-moving metrics, and many more, on 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.
