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Energy Transfer LP (ET) Stock Sinks As Market Gains: What You Should Know

In the latest trading session, Energy Transfer LP (ET) closed at $12.85, marking a -1% move from the previous day. This change lagged the S&P 500's daily gain of 1.29%. Meanwhile, the Dow gained 0.78%, and the Nasdaq, a tech-heavy index, lost 4.94%.

Heading into today, shares of the energy-related services provider had gained 5.44% over the past month, outpacing the Oils-Energy sector's loss of 0.08% and lagging the S&P 500's gain of 5.64% in that time.

Wall Street will be looking for positivity from Energy Transfer LP as it approaches its next earnings report date. This is expected to be February 15, 2023. The company is expected to report EPS of $0.37, up 27.59% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $27.43 billion, up 47.02% from the year-ago period.

Any recent changes to analyst estimates for Energy Transfer LP should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.

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 11.6% higher. Energy Transfer LP currently has a Zacks Rank of #1 (Strong Buy).

In terms of valuation, Energy Transfer LP is currently trading at a Forward P/E ratio of 9.05. For comparison, its industry has an average Forward P/E of 10.62, 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 183, which puts it in the bottom 28% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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Energy Transfer LP (ET) : Free Stock Analysis Report

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Zacks Investment Research