Energy Transfer LP (ET) Outpaces Stock Market Gains: What You Should Know
Energy Transfer LP (ET) closed the most recent trading day at $5.92, moving +0.68% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.47%. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, added 0.33%.
Coming into today, shares of the energy-related services provider had lost 0.34% in the past month. In that same time, the Oils-Energy sector lost 7.24%, while the S&P 500 gained 3.42%.
Investors will be hoping for strength from ET as it approaches its next earnings release. In that report, analysts expect ET to post earnings of $0.22 per share. This would mark a year-over-year decline of 40.54%. Meanwhile, our latest consensus estimate is calling for revenue of $11.07 billion, down 17.97% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.24 per share and revenue of $40.77 billion. These totals would mark changes of -82.35% and -24.79%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for ET. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 remained stagnant. ET is currently a Zacks Rank #4 (Sell).
Looking at its valuation, ET is holding a Forward P/E ratio of 24.1. This valuation marks a premium compared to its industry's average Forward P/E of 6.78.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 230, putting it in the bottom 10% 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.
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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