Enterprise Products Partners (EPD) closed at $27.94 in the latest trading session, marking a -0.07% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.45%. Meanwhile, the Dow lost 0.36%, and the Nasdaq, a tech-heavy index, lost 0.33%.
Prior to today's trading, shares of the provider of midstream energy services had lost 2.07% over the past month. This has lagged the Oils-Energy sector's gain of 0.95% and the S&P 500's gain of 0.59% in that time.
Wall Street will be looking for positivity from EPD as it approaches its next earnings report date. The company is expected to report EPS of $0.53, up 3.92% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.80 billion, down 8.17% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.18 per share and revenue of $34.93 billion, which would represent changes of +14.14% and -4.4%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for EPD. Recent revisions tend to reflect the latest near-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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. EPD currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that EPD has a Forward P/E ratio of 12.8 right now. This valuation marks a premium compared to its industry's average Forward P/E of 11.59.
Also, we should mention that EPD has a PEG ratio of 3.2. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Production Pipeline - MLB industry currently had an average PEG ratio of 2.88 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 37, putting it in the top 15% 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.
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.