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Why Energy Transfer LP (ET) Dipped More Than Broader Market Today
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Energy Transfer LP (ET - Free Report) ended the recent trading session at $16.37, demonstrating a -1.09% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.76%. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq lost 1.01%.
Prior to today's trading, shares of the energy-related services provider had gained 2.29% over the past month. This has outpaced the Oils-Energy sector's loss of 4.09% and lagged the S&P 500's gain of 4.31% in that time.
Market participants will be closely following the financial results of Energy Transfer LP in its upcoming release. The company plans to announce its earnings on November 6, 2024. On that day, Energy Transfer LP is projected to report earnings of $0.32 per share, which would represent year-over-year growth of 3.23%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $24.27 billion, up 17.02% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.35 per share and a revenue of $91.4 billion, signifying shifts of +23.85% and +16.31%, respectively, from the 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 0.07% higher within the past month. Currently, Energy Transfer LP is carrying a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Energy Transfer LP is currently trading at a Forward P/E ratio of 12.3. For comparison, its industry has an average Forward P/E of 12.3, which means Energy Transfer LP is trading at no noticeable deviation to the group.
It is also worth noting that ET currently has a PEG ratio of 0.5. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 1.51 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 194, putting it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Why Energy Transfer LP (ET) Dipped More Than Broader Market Today
Energy Transfer LP (ET - Free Report) ended the recent trading session at $16.37, demonstrating a -1.09% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.76%. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq lost 1.01%.
Prior to today's trading, shares of the energy-related services provider had gained 2.29% over the past month. This has outpaced the Oils-Energy sector's loss of 4.09% and lagged the S&P 500's gain of 4.31% in that time.
Market participants will be closely following the financial results of Energy Transfer LP in its upcoming release. The company plans to announce its earnings on November 6, 2024. On that day, Energy Transfer LP is projected to report earnings of $0.32 per share, which would represent year-over-year growth of 3.23%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $24.27 billion, up 17.02% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.35 per share and a revenue of $91.4 billion, signifying shifts of +23.85% and +16.31%, respectively, from the 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 0.07% higher within the past month. Currently, Energy Transfer LP is carrying a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Energy Transfer LP is currently trading at a Forward P/E ratio of 12.3. For comparison, its industry has an average Forward P/E of 12.3, which means Energy Transfer LP is trading at no noticeable deviation to the group.
It is also worth noting that ET currently has a PEG ratio of 0.5. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 1.51 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 194, putting it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.