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Energy Transfer LP (ET) Stock Sinks As Market Gains: What You Should Know
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Energy Transfer LP (ET - Free Report) closed at $13.54 in the latest trading session, marking a -0.88% move from the prior day. This change lagged the S&P 500's daily gain of 0.12%. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq gained 0.29%.
Coming into today, shares of the energy-related services provider had gained 8.76% in the past month. In that same time, the Oils-Energy sector gained 3.12%, while the S&P 500 gained 0.09%.
Wall Street will be looking for positivity from Energy Transfer LP as it approaches its next earnings report date. On that day, Energy Transfer LP is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 3.33%. Our most recent consensus estimate is calling for quarterly revenue of $21.5 billion, down 6.29% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.21 per share and revenue of $80.67 billion, which would represent changes of -14.18% and -10.24%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Energy Transfer LP. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.39% lower. Energy Transfer LP is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Energy Transfer LP is currently trading at a Forward P/E ratio of 11.27. For comparison, its industry has an average Forward P/E of 12.36, which means Energy Transfer LP is trading at a discount to the group.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Energy Transfer LP (ET) Stock Sinks As Market Gains: What You Should Know
Energy Transfer LP (ET - Free Report) closed at $13.54 in the latest trading session, marking a -0.88% move from the prior day. This change lagged the S&P 500's daily gain of 0.12%. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq gained 0.29%.
Coming into today, shares of the energy-related services provider had gained 8.76% in the past month. In that same time, the Oils-Energy sector gained 3.12%, while the S&P 500 gained 0.09%.
Wall Street will be looking for positivity from Energy Transfer LP as it approaches its next earnings report date. On that day, Energy Transfer LP is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 3.33%. Our most recent consensus estimate is calling for quarterly revenue of $21.5 billion, down 6.29% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.21 per share and revenue of $80.67 billion, which would represent changes of -14.18% and -10.24%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Energy Transfer LP. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.39% lower. Energy Transfer LP is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Energy Transfer LP is currently trading at a Forward P/E ratio of 11.27. For comparison, its industry has an average Forward P/E of 12.36, which means Energy Transfer LP is trading at a discount to the group.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.