Energy Transfer LP (ET) closed at $16.42 in the latest trading session, marking a -1.02% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.64% for the day. Meanwhile, the Dow experienced a rise of 1.23%, and the technology-dominated Nasdaq saw an increase of 0.69%.
The stock of energy-related services provider has fallen by 1.25% in the past month, lagging the Oils-Energy sector's gain of 1.8% and the S&P 500's gain of 0.55%.
The investment community will be paying close attention to the earnings performance of Energy Transfer LP in its upcoming release. The company is forecasted to report an EPS of $0.36, showcasing a 24.14% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $26.11 billion, indicating a 33.63% growth compared to the corresponding quarter of the prior year.
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 0%, respectively, from the prior year.
Any recent changes to analyst estimates for Energy Transfer LP should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.09% increase. Energy Transfer LP presently features a Zacks Rank of #3 (Hold).
Investors should also note Energy Transfer LP's current valuation metrics, including its Forward P/E ratio of 10.8. This expresses a discount compared to the average Forward P/E of 11.91 of its industry.
Investors should also note that ET has a PEG ratio of 0.87 right now. 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 1.56.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 29, positioning it in the top 12% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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