In the latest trading session, Energy Transfer LP (ET) closed at $12.89, marking a -0.08% move from the previous day. This change lagged the S&P 500's daily gain of 0.62%. Elsewhere, the Dow gained 0.5%, while the tech-heavy Nasdaq lost 5.66%.
Coming into today, shares of the energy-related services provider had gained 3.61% in the past month. In that same time, the Oils-Energy sector gained 2.66%, while the S&P 500 gained 3.44%.
Energy Transfer LP will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.33, down 15.38% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $23.49 billion, down 9.47% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.34 per share and revenue of $99.37 billion. These totals would mark changes of -4.96% and +10.56%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Energy Transfer LP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.3% higher. Energy Transfer LP is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, Energy Transfer LP currently has a Forward P/E ratio of 9.6. Its industry sports an average Forward P/E of 11.94, so we 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. This group has a Zacks Industry Rank of 220, putting it in the bottom 13% 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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