Energy Transfer LP (ET) closed at $17.15 in the latest trading session, marking a +1.12% move from the prior day. This move outpaced the S&P 500's daily gain of 0.16%. Elsewhere, the Dow gained 0.17%, while the tech-heavy Nasdaq added 0.26%.
The stock of energy-related services provider has risen by 2.42% in the past month, leading the Oils-Energy sector's loss of 0.36% and the S&P 500's gain of 1.89%.
Market participants will be closely following the financial results of Energy Transfer LP in its upcoming release. On that day, Energy Transfer LP is projected to report earnings of $0.36 per share, which would represent year-over-year growth of 24.14%. Our most recent consensus estimate is calling for quarterly revenue of $26.11 billion, up 33.63% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.33 per share and revenue of $86.33 billion. These totals would mark changes of +3.91% and 0%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Energy Transfer LP. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, 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 a 0.09% rise in the Zacks Consensus EPS estimate. Energy Transfer LP currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Energy Transfer LP is holding a Forward P/E ratio of 11.04. This denotes a discount relative to the industry average Forward P/E of 11.83.
Investors should also note that ET has a PEG ratio of 0.89 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. ET's industry had an average PEG ratio of 1.57 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 76, positioning it in the top 32% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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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