Enterprise Products Partners (EPD) Gains As Market Dips: What You Should Know
In the latest trading session, Enterprise Products Partners (EPD) closed at $25.43, marking a +0.32% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq lost 3.64%.
Heading into today, shares of the provider of midstream energy services had lost 1.9% over the past month, outpacing the Oils-Energy sector's loss of 6.61% and lagging the S&P 500's gain of 0.07% in that time.
Wall Street will be looking for positivity from Enterprise Products Partners as it approaches its next earnings report date. The company is expected to report EPS of $0.60, unchanged from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.8 billion, up 6.11% from the year-ago period.
EPD's full-year Zacks Consensus Estimates are calling for earnings of $2.50 per share and revenue of $56.92 billion. These results would represent year-over-year changes of -0.79% and -2.18%, respectively.
It is also important to note the recent changes to analyst estimates for Enterprise Products Partners. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Enterprise Products Partners is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Enterprise Products Partners is currently trading at a Forward P/E ratio of 10.12. This valuation marks a discount compared to its industry's average Forward P/E of 10.68.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 104, putting it in the top 42% 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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