Energy Transfer LP (ET) Rises Higher Than Market: Key Facts

Energy Transfer LP (ET) ended the recent trading session at $13.94, demonstrating a +0.43% swing from the preceding day's closing price. This change outpaced the S&P 500's 0.29% gain on the day. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq gained 0.43%.

The energy-related services provider's stock has climbed by 0.87% in the past month, exceeding the Oils-Energy sector's loss of 5.56% and lagging the S&P 500's gain of 2.08%.

The investment community will be closely monitoring the performance of Energy Transfer LP in its forthcoming earnings report. The company is scheduled to release its earnings on February 14, 2024. It is anticipated that the company will report an EPS of $0.29, marking a 14.71% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $23.59 billion, indicating a 15.04% upward movement from the same quarter last year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Energy Transfer LP. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.03% higher. Energy Transfer LP is currently a Zacks Rank #2 (Buy).

Digging into valuation, Energy Transfer LP currently has a Forward P/E ratio of 11.84. Its industry sports an average Forward P/E of 12.4, so one might conclude that Energy Transfer LP is trading at a discount comparatively.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 76, placing it within the top 31% of over 250 industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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