Energy Transfer LP (ET) closed the most recent trading day at $18.45, moving +1.1% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.38%. Elsewhere, the Dow gained 0.24%, while the tech-heavy Nasdaq added 0.24%.
Coming into today, shares of the energy-related services provider had gained 0.5% in the past month. In that same time, the Oils-Energy sector gained 6.38%, while the S&P 500 gained 6.6%.
Market participants will be closely following the financial results of Energy Transfer LP in its upcoming release. The company's upcoming EPS is projected at $0.32, signifying a 8.57% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $24.73 billion, up 19.31% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.44 per share and a revenue of $97.68 billion, signifying shifts of +12.5% and +18.15%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Energy Transfer LP. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 0.42% higher. As of now, Energy Transfer LP holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Energy Transfer LP is holding a Forward P/E ratio of 12.69. This represents a premium compared to its industry average Forward P/E of 12.28.
Investors should also note that ET has a PEG ratio of 0.59 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. The Oil and Gas - Production Pipeline - MLB industry currently had an average PEG ratio of 1.15 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 203, this industry ranks in the bottom 18% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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