Energy Transfer LP (ET) closed at $17.75 in the latest trading session, marking a -1.22% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.79% for the day. Elsewhere, the Dow lost 0.94%, while the tech-heavy Nasdaq lost 0.92%.
Prior to today's trading, shares of the energy-related services provider had gained 0.22% lagged the Oils-Energy sector's gain of 6.03% and the S&P 500's gain of 5.22%.
Analysts and investors alike will be keeping a close eye on the performance of Energy Transfer LP in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.32, marking a 8.57% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $24.73 billion, reflecting a 19.31% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.44 per share and revenue of $97.68 billion, indicating changes of +12.5% and +18.15%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Energy Transfer LP should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 an unchanged state. Currently, Energy Transfer LP is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Energy Transfer LP is presently trading at a Forward P/E ratio of 12.5. This expresses no noticeable deviation compared to the average Forward P/E of 12.5 of its industry.
It is also worth noting that ET currently has a PEG ratio of 0.58. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 1.15 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 209, positioning it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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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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