Energy Transfer LP (ET) ended the recent trading session at $16.54, demonstrating a +1.66% change from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.14%. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, lost 0.24%.
Prior to today's trading, shares of the energy-related services provider had lost 3.33% lagged the Oils-Energy sector's loss of 1.02% and the S&P 500's gain of 0.94%.
The investment community will be closely monitoring the performance of Energy Transfer LP in its forthcoming earnings report. In that report, analysts expect Energy Transfer LP to post earnings of $0.36 per share. This would mark year-over-year growth of 24.14%. Simultaneously, our latest consensus estimate expects the revenue to be $26.11 billion, showing a 33.63% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.33 per share and a revenue of $86.33 billion, representing changes of +3.91% and +4.42%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Energy Transfer LP. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.11% higher. At present, Energy Transfer LP boasts a Zacks Rank of #3 (Hold).
Investors should also note Energy Transfer LP's current valuation metrics, including its Forward P/E ratio of 12.21. This expresses a premium compared to the average Forward P/E of 12.2 of its industry.
Meanwhile, ET's PEG ratio is currently 0.98. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Oil and Gas - Production Pipeline - MLB industry was having an average PEG ratio of 1.71.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 115, finds itself in the top 47% echelons 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming 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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