Enterprise Products Partners (EPD) closed at $31.50 in the latest trading session, marking a -1.16% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.4%. On the other hand, the Dow registered a loss of 0.98%, and the technology-centric Nasdaq increased by 0.18%.
The provider of midstream energy services's shares have seen an increase of 1.08% over the last month, surpassing the Oils-Energy sector's loss of 0.05% and falling behind the S&P 500's gain of 4.97%.
Market participants will be closely following the financial results of Enterprise Products Partners in its upcoming release. The company is predicted to post an EPS of $0.64, indicating constancy compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $14.53 billion, indicating a 7.77% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.8 per share and a revenue of $57.3 billion, signifying shifts of +4.09% and +1.92%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Enterprise Products Partners. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. The Zacks Consensus EPS estimate has moved 2.02% lower within the past month. As of now, Enterprise Products Partners holds a Zacks Rank of #4 (Sell).
Looking at its valuation, Enterprise Products Partners is holding a Forward P/E ratio of 11.39. This represents a discount compared to its industry average Forward P/E of 11.79.
Meanwhile, EPD's PEG ratio is currently 1.35. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Oil and Gas - Production Pipeline - MLB industry held an average PEG ratio of 1.18.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 213, positioning it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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Enterprise Products Partners L.P. (EPD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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