Energy Transfer LP (ET) Dips More Than Broader Markets: What You Should Know
Energy Transfer LP (ET) closed the most recent trading day at $7.13, moving -1.52% from the previous trading session. This change lagged the S&P 500's 0.38% loss on the day. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Heading into today, shares of the energy-related services provider had gained 5.39% over the past month, lagging the Oils-Energy sector's gain of 8.21% and outpacing the S&P 500's gain of 4.12% in that time.
Wall Street will be looking for positivity from ET as it approaches its next earnings report date. In that report, analysts expect ET to post earnings of $0.27 per share. This would mark a year-over-year decline of 28.95%. Our most recent consensus estimate is calling for quarterly revenue of $10.33 billion, down 24.73% from the year-ago period.
Investors should also note any recent changes to analyst estimates for ET. These revisions help to show the ever-changing nature of near-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. 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 1.66% lower within the past month. ET is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, ET currently has a Forward P/E ratio of 5.44. This valuation marks a discount compared to its industry's average Forward P/E of 8.47.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 218, which puts it in the bottom 15% 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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