Enterprise Products Partners (EPD) Flat As Market Gains: What You Should Know

In the latest market close, Enterprise Products Partners (EPD) reached $26.21, with no movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.04%. Elsewhere, the Dow saw an upswing of 0.14%, while the tech-heavy Nasdaq depreciated by 0.03%.

The provider of midstream energy services's stock has dropped by 0.87% in the past month, falling short of the Oils-Energy sector's gain of 2.41% and the S&P 500's gain of 5.28%.

Market participants will be closely following the financial results of Enterprise Products Partners in its upcoming release. The company is forecasted to report an EPS of $0.66, showcasing a 1.54% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $12.71 billion, indicating a 6.85% downward movement from the same quarter last year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.48 per share and a revenue of $47.81 billion, representing changes of -1.59% and -17.84%, respectively, from the prior year.

Any recent changes to analyst estimates for Enterprise Products Partners should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.73% fall in the Zacks Consensus EPS estimate. As of now, Enterprise Products Partners holds a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Enterprise Products Partners has a Forward P/E ratio of 10.57 right now. This expresses a discount compared to the average Forward P/E of 13.16 of its industry.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

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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