Enterprise Products Partners (EPD) closed at $31.73 in the latest trading session, marking a -1.34% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.62%. Elsewhere, the Dow saw an upswing of 0.99%, while the tech-heavy Nasdaq appreciated by 0.65%.
The provider of midstream energy services's stock has dropped by 1.68% in the past month, falling short of the Oils-Energy sector's gain of 0.26% and the S&P 500's gain of 0.59%.
Investors will be eagerly watching for the performance of Enterprise Products Partners in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.7, marking a 5.41% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $13.15 billion, indicating a 7.43% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.62 per share and a revenue of $51.62 billion, indicating changes of -2.6% and 0%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Enterprise Products Partners. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, Enterprise Products Partners boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Enterprise Products Partners is currently trading at a Forward P/E ratio of 11.29. This valuation marks a discount compared to its industry average Forward P/E of 11.94.
Also, we should mention that EPD has a PEG ratio of 2.26. 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. EPD's industry had an average PEG ratio of 1.56 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 18% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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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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