In the latest trading session, Energy Transfer LP (ET) closed at $6.04, marking a -0.66% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.84%. Meanwhile, the Dow lost 0.47%, and the Nasdaq, a tech-heavy index, lost 1.27%.
Coming into today, shares of the energy-related services provider had lost 6.75% in the past month. In that same time, the Oils-Energy sector lost 8.27%, while the S&P 500 gained 0.6%.
ET will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.22, down 40.54% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $11.05 billion, down 18.15% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.39 per share and revenue of $40.76 billion. These totals would mark changes of -71.32% and -24.82%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for ET. These recent revisions tend to reflect the evolving nature of short-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. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 2.76% lower. ET is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, ET is holding a Forward P/E ratio of 15.49. This represents a premium compared to its industry's average Forward P/E of 7.72.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 208, putting it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ET in the coming trading sessions, be sure to utilize Zacks.com.
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