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Energy Transfer LP (ET) Rises As Market Takes a Dip: Key Facts
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In the latest market close, Energy Transfer LP (ET - Free Report) reached $16.19, with a +1.06% movement compared to the previous day. This move outpaced the S&P 500's daily loss of 0.5%. Meanwhile, the Dow experienced a rise of 0.5%, and the technology-dominated Nasdaq saw a decrease of 1.28%.
The energy-related services provider's shares have seen a decrease of 2.08% over the last month, surpassing the Oils-Energy sector's loss of 10.92% and falling behind the S&P 500's gain of 0.1%.
Analysts and investors alike will be keeping a close eye on the performance of Energy Transfer LP in its upcoming earnings disclosure. The company's earnings report is set to go public on August 7, 2024. The company is predicted to post an EPS of $0.36, indicating a 44% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $24.64 billion, up 34.48% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.47 per share and revenue of $97.83 billion. These totals would mark changes of +34.86% and +24.49%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Energy Transfer LP. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 last 30 days, the Zacks Consensus EPS estimate has moved 1.38% higher. Energy Transfer LP is currently a Zacks Rank #2 (Buy).
Investors should also note Energy Transfer LP's current valuation metrics, including its Forward P/E ratio of 10.91. This expresses a discount compared to the average Forward P/E of 12.51 of its industry.
It's also important to note that ET currently trades at a PEG ratio of 0.42. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. ET's industry had an average PEG ratio of 1.39 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 19, finds itself in the top 8% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ET in the coming trading sessions, be sure to utilize Zacks.com.
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Energy Transfer LP (ET) Rises As Market Takes a Dip: Key Facts
In the latest market close, Energy Transfer LP (ET - Free Report) reached $16.19, with a +1.06% movement compared to the previous day. This move outpaced the S&P 500's daily loss of 0.5%. Meanwhile, the Dow experienced a rise of 0.5%, and the technology-dominated Nasdaq saw a decrease of 1.28%.
The energy-related services provider's shares have seen a decrease of 2.08% over the last month, surpassing the Oils-Energy sector's loss of 10.92% and falling behind the S&P 500's gain of 0.1%.
Analysts and investors alike will be keeping a close eye on the performance of Energy Transfer LP in its upcoming earnings disclosure. The company's earnings report is set to go public on August 7, 2024. The company is predicted to post an EPS of $0.36, indicating a 44% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $24.64 billion, up 34.48% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.47 per share and revenue of $97.83 billion. These totals would mark changes of +34.86% and +24.49%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Energy Transfer LP. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 last 30 days, the Zacks Consensus EPS estimate has moved 1.38% higher. Energy Transfer LP is currently a Zacks Rank #2 (Buy).
Investors should also note Energy Transfer LP's current valuation metrics, including its Forward P/E ratio of 10.91. This expresses a discount compared to the average Forward P/E of 12.51 of its industry.
It's also important to note that ET currently trades at a PEG ratio of 0.42. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. ET's industry had an average PEG ratio of 1.39 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 19, finds itself in the top 8% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ET in the coming trading sessions, be sure to utilize Zacks.com.