Energy Transfer LP (ET) closed the most recent trading day at $15.07, moving +0.8% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.65%. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq lost 0.46%.
Heading into today, shares of the energy-related services provider had gained 5.73% over the past month, outpacing the Oils-Energy sector's gain of 3.03% and the S&P 500's gain of 4.11% in that time.
Wall Street will be looking for positivity from ET as it approaches its nex t earnings report date. The company is expected to report EPS of $0.37, up 12.12% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.58 billion, up 3.24% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.33 per share and revenue of $56.37 billion, which would represent changes of +15.65% and +4.22%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for ET. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.31% higher. ET is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that ET has a Forward P/E ratio of 11.24 right now. For comparison, its industry has an average Forward P/E of 12.77, which means ET is trading at a discount to the group.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 27% 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.
To follow ET in the coming trading sessions, be sure to utilize Zacks.com.
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