In the latest trading session, Enterprise Products Partners (EPD) closed at $23.80, marking a -1% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.89%. Meanwhile, the Dow lost 1.3%, and the Nasdaq, a tech-heavy index, lost 0.17%.
Coming into today, shares of the provider of midstream energy services had gained 11.97% in the past month. In that same time, the Oils-Energy sector gained 14.35%, while the S&P 500 lost 1.79%.
Enterprise Products Partners will be looking to display strength as it nears its next earnings release, which is expected to be February 1, 2022. The company is expected to report EPS of $0.54, up 5.88% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.31 billion, up 60.54% from the year-ago period.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 0.06% lower within the past month. Enterprise Products Partners is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Enterprise Products Partners has a Forward P/E ratio of 11.04 right now. This valuation marks a premium compared to its industry's average Forward P/E of 9.68.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 209, which puts it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Enterprise Products Partners L.P. (EPD) : Free Stock Analysis Report
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