In the latest trading session, Energy Transfer LP (ET) closed at $11.66, marking a +0.34% move from the previous day. This move lagged the S&P 500's daily gain of 0.75%. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, added 10.36%.
Prior to today's trading, shares of the energy-related services provider had lost 2.68% over the past month. This has was narrower than the Oils-Energy sector's loss of 6.78% and the S&P 500's loss of 5.98% in that time.
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 $0.32 per share, which would represent year-over-year growth of 10.34%. Meanwhile, our latest consensus estimate is calling for revenue of $27.67 billion, up 48.31% from the prior-year quarter.
It is also important to note the 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 remained stagnant. Energy Transfer LP is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Energy Transfer LP has a Forward P/E ratio of 9.04 right now. For comparison, its industry has an average Forward P/E of 9.96, 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 industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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