In the latest trading session, Energy Transfer LP (ET) closed at $16.21, marking a -1.1% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.79%. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq gained 1.38%.
The energy-related services provider's shares have seen a decrease of 3.13% over the last month, not keeping up with the Oils-Energy sector's loss of 2.2% and the S&P 500's gain of 0.87%.
Market participants will be closely following the financial results of Energy Transfer LP in its upcoming release. It is anticipated that the company will report an EPS of $0.36, marking a 24.14% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $26.11 billion, reflecting a 33.63% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.33 per share and a revenue of $86.33 billion, signifying shifts of +3.91% and +4.42%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Energy Transfer LP. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate has moved 1.48% lower within the past month. Currently, Energy Transfer LP is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Energy Transfer LP has a Forward P/E ratio of 12.3 right now. For comparison, its industry has an average Forward P/E of 12.24, which means Energy Transfer LP is trading at a premium to the group.
It's also important to note that ET currently trades at a PEG ratio of 0.99. 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. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 1.72 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 99, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Energy Transfer LP (ET): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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