Enterprise Products Partners (EPD) closed at $14.47 in the latest trading session, marking a -0.34% move from the prior day. This change was narrower than the S&P 500's daily loss of 4.34%. Meanwhile, the Dow lost 4.55%, and the Nasdaq, a tech-heavy index, lost 3.79%.
Heading into today, shares of the provider of midstream energy services had lost 44.62% over the past month, outpacing the Oils-Energy sector's loss of 51.4% and lagging the S&P 500's loss of 28.78% in that time.
Investors will be hoping for strength from EPD as it approaches its next earnings release. On that day, EPD is projected to report earnings of $0.53 per share, which would represent a year-over-year decline of 7.02%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.49 billion, down 0.66% from the year-ago period.
EPD's full-year Zacks Consensus Estimates are calling for earnings of $2.14 per share and revenue of $33.39 billion. These results would represent year-over-year changes of -0.47% and +1.84%, respectively.
It is also important to note the recent changes to analyst estimates for EPD. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.43% lower. EPD is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that EPD has a Forward P/E ratio of 6.79 right now. For comparison, its industry has an average Forward P/E of 4.65, which means EPD is trading at a premium to the group.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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